GW&K Investment Management LLC Sells 249,281 Shares of Primoris Services Corporation $PRIM

GW&K Investment Management LLC trimmed its position in shares of Primoris Services Corporation (NYSE:PRIM) by 49.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 257,933 shares of the company’s stock after selling 249,281 shares during the period. GW&K Investment Management LLC owned approximately 0.48% of Primoris Services worth $32,020,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRIM. SBI Securities Co. Ltd. boosted its holdings in Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after acquiring an additional 148 shares during the period. Harbour Investments Inc. bought a new stake in Primoris Services during the fourth quarter valued at about $33,000. Osterweis Capital Management Inc. bought a new stake in Primoris Services during the second quarter valued at about $34,000. Cullen Frost Bankers Inc. boosted its holdings in Primoris Services by 30.1% during 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 period. Finally, NewEdge Advisors LLC lifted its stake in shares of Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after buying an additional 194 shares during the period. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Stock Down 9.7%

Shares of PRIM opened at $93.87 on Thursday. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 20.68 and a beta of 1.36. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 12 month low of $71.84 and a 12 month high of $205.50. The company has a 50-day moving average price of $138.54 and a two-hundred day moving average price of $139.71.

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

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued 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 dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is presently 7.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PRIM shares. DA Davidson set a $180.00 target price on shares of Primoris Services in a research note on Wednesday, February 25th. Zacks Research cut shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Primoris Services in a research note on Tuesday. Needham & Company LLC reduced their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average target price of $156.20.

Insider Activity at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Primoris Services Profile

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.