Gabelli Funds LLC Reduces Stock Position in Primoris Services Co. $PRIM

Gabelli Funds LLC cut its holdings in Primoris Services Co. (NASDAQ:PRIM) by 18.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 68,254 shares of the construction company’s stock after selling 15,888 shares during the period. Gabelli Funds LLC’s holdings in Primoris Services were worth $9,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. boosted its holdings in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after acquiring an additional 148 shares during the period. Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services in the second quarter valued at $34,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Primoris Services during the 3rd quarter valued at $37,000. Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services during the 3rd quarter valued at $37,000. Finally, McIlrath & Eck LLC lifted its holdings in Primoris Services by 109.8% during the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock worth $38,000 after purchasing an additional 145 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PRIM. DA Davidson set a $180.00 target price on Primoris Services in a research note on Wednesday, February 25th. Wells Fargo & Company upped their price target on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. UBS Group increased their price target on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. The Goldman Sachs Group raised their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research report on Wednesday, January 28th. Finally, Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the company a “neutral” rating in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.20.

Insider Buying and Selling at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the sale, the director directly owned 74,466 shares of the company’s stock, valued at $10,127,376. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Primoris Services Price Performance

NASDAQ:PRIM opened at $133.11 on Monday. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $174.43. The stock has a fifty day moving average of $147.42 and a 200 day moving average of $134.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 44.08 and a beta of 1.36.

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 return on equity of 15.23% and a net margin of 2.68%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company earned $1.13 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. 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 EPS for the current fiscal year.

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio is 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.