NewSquare Capital LLC Buys New Holdings in Primoris Services Co. $PRIM

NewSquare Capital LLC bought a new position in Primoris Services Co. (NASDAQ:PRIM) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 53,882 shares of the construction company’s stock, valued at approximately $7,400,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hodges Capital Management Inc. bought a new stake in Primoris Services in the second quarter valued at about $3,320,000. GSA Capital Partners LLP bought a new position in Primoris Services during the third quarter worth about $1,726,000. J.W. Cole Advisors Inc. acquired a new stake in Primoris Services during the third quarter valued at approximately $1,193,000. Federated Hermes Inc. grew its stake in shares of Primoris Services by 5.8% in the 2nd quarter. Federated Hermes Inc. now owns 347,785 shares of the construction company’s stock valued at $27,106,000 after purchasing an additional 18,951 shares during the period. Finally, Leuthold Group LLC raised its holdings in shares of Primoris Services by 1,350.3% in the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the construction company’s stock worth $6,722,000 after buying an additional 45,572 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. The trade was a 8.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the completion of the transaction, the director directly owned 74,466 shares in the company, valued at $10,127,376. This trade represents a 9.50% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PRIM shares. Needham & Company LLC reiterated a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. The Goldman Sachs Group boosted their target price on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Guggenheim increased their target price on shares of Primoris Services from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. boosted their price target on shares of Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Finally, Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the stock a “neutral” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Stock Down 1.6%

Shares of NASDAQ PRIM opened at $144.78 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 47.94 and a beta of 1.36. Primoris Services Co. has a 12-month low of $49.10 and a 12-month high of $174.43. The firm’s 50-day simple moving average is $147.17 and its 200 day simple moving average is $134.39.

Primoris Services (NASDAQ:PRIM) last announced its earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, research analysts expect that Primoris Services Co. will post 3.26 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, April 15th. Shareholders of record on Tuesday, March 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio (DPR) is presently 6.36%.

Primoris Services Company Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.