John Perisich Sells 29,707 Shares of Primoris Services (NYSE:PRIM) Stock

Primoris Services Corporation (NYSE:PRIM) insider John Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Primoris Services Stock Performance

Primoris Services stock opened at $125.93 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a fifty day moving average of $142.50 and a two-hundred day moving average of $139.75. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 27.74 and a beta of 1.50. Primoris Services Corporation has a fifty-two week low of $70.68 and a fifty-two week high of $205.50.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is presently 7.05%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC boosted its holdings in Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after acquiring an additional 69 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Assetmark Inc. boosted its holdings in Primoris Services by 9.7% in the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock valued at $131,000 after acquiring an additional 84 shares during the last quarter. Covestor Ltd boosted its holdings in Primoris Services by 13.4% in the fourth quarter. Covestor Ltd now owns 719 shares of the company’s stock valued at $89,000 after acquiring an additional 85 shares during the last quarter. Finally, CWM LLC boosted its holdings in Primoris Services by 1.1% in the fourth quarter. CWM LLC now owns 8,970 shares of the company’s stock valued at $1,114,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. UBS Group lowered their price objective on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wolfe Research assumed coverage on Primoris Services in a research report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Finally, Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and an average target price of $156.20.

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.