Primoris Services Corporation $PRIM Shares Sold by Inspire Investing LLC

Inspire Investing LLC lessened its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 74.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,589 shares of the company’s stock after selling 10,203 shares during the quarter. Inspire Investing LLC’s holdings in Primoris Services were worth $513,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. acquired a new position in Primoris Services in the 4th quarter valued at $33,000. Osterweis Capital Management Inc. acquired a new stake in shares of Primoris Services in the 2nd quarter worth $34,000. Cullen Frost Bankers Inc. boosted its holdings in shares of 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 in the last quarter. NewEdge Advisors LLC boosted its holdings 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 acquiring an additional 194 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Primoris Services by 120.4% in the fourth quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after acquiring an additional 195 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Down 0.1%

PRIM stock opened at $88.08 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $117.66 and its 200 day moving average price is $136.01. Primoris Services Corporation has a 52 week low of $65.00 and a 52 week high of $205.50. The company has a market cap of $4.78 billion, a P/E ratio of 19.40 and a beta of 1.41.

Primoris Services (NYSE:PRIM) last issued its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business posted $0.98 earnings per share. The company’s quarterly 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. On average, research analysts expect that Primoris Services Corporation will post 1.88 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is presently 7.05%.

Insider Activity at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the firm’s 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 completion of the transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the firm’s 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 of the company’s stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PRIM shares. Needham & Company LLC cut their price target on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wolfe Research reaffirmed an “outperform” rating and issued a $149.00 price objective on shares of Primoris Services in a report on Monday, June 15th. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $107.00 to $102.00 in a research report on Thursday, June 25th. JPMorgan Chase & Co. upgraded Primoris Services from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $116.00 in a research report on Monday, June 29th. Finally, KeyCorp reissued a “sector weight” rating on shares of Primoris Services in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.79.

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.