QP Wealth Management LLC Buys New Position in Primoris Services Corporation $PRIM

QP Wealth Management LLC purchased a new position in shares of Primoris Services Corporation (NYSE:PRIM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,049 shares of the company’s stock, valued at approximately $503,000.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PRIM shares. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Mizuho upped their price target on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Guggenheim boosted their price target 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. Weiss Ratings reissued a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Finally, UBS Group lifted their target price on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.20.

Primoris Services Price Performance

Primoris Services stock opened at $138.95 on Friday. The stock’s fifty day moving average price is $149.40. Primoris Services Corporation has a fifty-two week low of $49.10 and a fifty-two week high of $174.43. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 27.62 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the firm posted $1.13 EPS. The business’s 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.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s payout ratio is currently 6.36%.

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.