Primoris Services Corporation $PRIM Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. grew its holdings in Primoris Services Corporation (NYSE:PRIM) by 41,998.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,416 shares of the company’s stock after acquiring an additional 32,339 shares during the period. Bessemer Group Inc.’s holdings in Primoris Services were worth $4,637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PRIM. Harbour Investments Inc. purchased a new position in Primoris Services in the fourth quarter valued at $33,000. Root Financial Partners LLC increased its holdings in Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after purchasing an additional 69 shares during the period. Osterweis Capital Management Inc. purchased a new stake in Primoris Services during the 2nd quarter worth about $34,000. Cullen Frost Bankers Inc. raised its position in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after purchasing an additional 194 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Up 0.7%

PRIM stock opened at $86.55 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. The company’s 50 day moving average is $103.71 and its two-hundred day moving average is $133.01. The stock has a market cap of $4.70 billion, a P/E ratio of 19.06 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 the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. 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 was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Primoris Services’s dividend payout ratio is presently 7.05%.

Insiders Place Their Bets

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PRIM has been the subject of several recent research reports. Mizuho decreased their price objective on Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Wells Fargo & Company cut their target price on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 23rd. The Goldman Sachs Group raised shares of Primoris Services from a “sell” rating to a “neutral” rating and reduced their target price for the company from $107.00 to $102.00 in a report on Thursday, June 25th. Needham & Company LLC decreased their price target on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings cut shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $137.47.

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.