Cookson Peirce & Co. Inc. Makes New $8.26 Million Investment in Primoris Services Corporation $PRIM

Cookson Peirce & Co. Inc. acquired a new stake in shares of Primoris Services Corporation (NYSE:PRIM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,567 shares of the company’s stock, valued at approximately $8,264,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Total Wealth Planning & Management Inc. bought a new position in shares of Primoris Services during the fourth quarter valued at about $1,116,000. Westfield Capital Management Co. LP raised its stake in shares of Primoris Services by 0.5% during the fourth quarter. Westfield Capital Management Co. LP now owns 952,196 shares of the company’s stock valued at $118,206,000 after acquiring an additional 4,888 shares during the last quarter. Vise Technologies Inc. increased its position in shares of Primoris Services by 26.8% during the fourth quarter. Vise Technologies Inc. now owns 3,548 shares of the company’s stock valued at $440,000 after buying an additional 750 shares during the period. Globeflex Capital L P increased its position in shares of Primoris Services by 23.6% during the fourth quarter. Globeflex Capital L P now owns 47,018 shares of the company’s stock valued at $5,837,000 after buying an additional 8,978 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Primoris Services during the fourth quarter valued at about $237,000. 91.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on 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 transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on 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 completion of the transaction, the director directly owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Primoris Services Stock Down 4.2%

Shares of Primoris Services stock opened at $122.21 on Friday. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 26.92 and a beta of 1.36. The company’s 50 day moving average is $140.49 and its 200 day moving average is $139.81. Primoris Services Corporation has a twelve month low of $70.68 and a twelve month 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.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s payout ratio is currently 7.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRIM shares. UBS Group reduced their price target on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. 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. Cantor Fitzgerald boosted their price target on shares of Primoris Services from $113.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, KeyCorp cut their price objective on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

About Primoris Services

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.