OP Asset Management Ltd Purchases Shares of 6,232 Primoris Services Corporation $PRIM

OP Asset Management Ltd acquired a new position in shares of Primoris Services Corporation (NYSE:PRIM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,232 shares of the company’s stock, valued at approximately $891,000.

A number of other large investors have also recently made changes to their positions in the business. CENTRAL TRUST Co grew its holdings in shares of Primoris Services by 7,500.0% during the first quarter. CENTRAL TRUST Co now owns 608 shares of the company’s stock valued at $87,000 after buying an additional 600 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Primoris Services by 271.2% in the 1st quarter. SG Americas Securities LLC now owns 7,386 shares of the company’s stock worth $1,056,000 after acquiring an additional 5,396 shares during the last quarter. Balboa Wealth Partners raised its holdings in shares of Primoris Services by 43.4% in the 1st quarter. Balboa Wealth Partners now owns 2,988 shares of the company’s stock worth $427,000 after acquiring an additional 904 shares during the last quarter. Hsbc Holdings PLC lifted its position in Primoris Services by 60.6% in the 4th quarter. Hsbc Holdings PLC now owns 10,686 shares of the company’s stock valued at $1,322,000 after acquiring an additional 4,032 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Primoris Services by 5.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,925 shares of the company’s stock valued at $487,000 after acquiring an additional 190 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PRIM has been the subject of a number of analyst reports. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and cut their price target for the company from $107.00 to $102.00 in a research note on Thursday, June 25th. Zacks Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. UBS Group cut their target price on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. KeyCorp reiterated a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. Finally, Wolfe Research reissued an “outperform” rating and issued a $149.00 price target on shares of Primoris Services in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Primoris Services presently has a consensus rating of “Moderate Buy” and an average target price of $141.00.

Primoris Services Trading Up 4.4%

Shares of PRIM stock opened at $97.22 on Tuesday. 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 company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 21.42 and a beta of 1.37. Primoris Services Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The company has a 50-day simple moving average of $123.63 and a two-hundred day simple moving average of $137.16.

Primoris Services (NYSE:PRIM) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the business earned $0.98 EPS. Primoris Services’s quarterly revenue was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts anticipate that Primoris Services Corporation will post 1.91 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. Investors of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Insider Buying and Selling at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the director owned 14,941 shares in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

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.