Aptus Capital Advisors LLC Sells 5,083 Shares of Primoris Services Corporation $PRIM

Aptus Capital Advisors LLC lessened its stake in Primoris Services Corporation (NYSE:PRIM) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,417 shares of the company’s stock after selling 5,083 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Primoris Services were worth $16,562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PRIM. Norges Bank acquired a new position in Primoris Services in the fourth quarter valued at about $103,368,000. State Street Corp increased its stake in shares of Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after purchasing an additional 728,646 shares during the period. Vanguard Group Inc. increased its stake in shares of Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the period. American Century Companies Inc. increased its stake in shares of Primoris Services by 69.6% during the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after purchasing an additional 418,374 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Primoris Services by 136.0% during the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after purchasing an additional 382,597 shares during the period. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling at Primoris Services

In other news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares in the company, valued at approximately $3,525,611.64. The trade was a 51.86% 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 Price Performance

Primoris Services stock opened at $98.39 on Monday. The stock’s fifty day moving average price is $136.51 and its two-hundred day moving average price is $139.37. Primoris Services Corporation has a one year low of $72.50 and a one year high of $205.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $5.34 billion, a PE ratio of 21.67 and a beta of 1.37.

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

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.08 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group lowered their target price on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Guggenheim increased their target price on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. increased their target price on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Needham & Company LLC lowered their target price on Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $175.00 to $135.00 in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

Primoris Services Company 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.