Primoris Services Corporation $PRIM Shares Sold by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lessened its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 18.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,370 shares of the company’s stock after selling 14,410 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Primoris Services were worth $7,991,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Primoris Services during the third quarter worth about $1,726,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Primoris Services during the third quarter worth about $1,193,000. Nordea Investment Management AB acquired a new stake in shares of Primoris Services during the fourth quarter worth about $7,181,000. Leuthold Group LLC lifted its position in shares of Primoris Services by 1,350.3% during the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after purchasing an additional 45,572 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Primoris Services by 327.8% during the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $125.93 on Friday. The firm has a market capitalization of $6.83 billion, a P/E ratio of 27.74 and a beta of 1.50. Primoris Services Corporation has a 52 week low of $70.68 and a 52 week high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $142.50 and its two-hundred day moving average is $139.75.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 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 analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts forecast that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Insiders Place Their Bets

In other news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Lee King sold 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This trade represents a 57.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PRIM has been the topic of several research reports. Needham & Company LLC reduced their price target on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Wells Fargo & Company reduced their price target on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Guggenheim lifted their price target on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.20.

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.