Primoris Services Corporation $PRIM Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. cut its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 33.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,000 shares of the company’s stock after selling 30,000 shares during the period. Heartland Advisors Inc.’s holdings in Primoris Services were worth $7,448,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PRIM. Norges Bank purchased a new position in shares of Primoris Services in the 4th quarter valued at approximately $103,368,000. Vanguard Group Inc. raised its stake in shares of Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Primoris Services by 69.6% during the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after purchasing an additional 418,374 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Primoris Services by 136.0% during the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after purchasing an additional 382,597 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Primoris Services by 1,093.2% during the third quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after purchasing an additional 348,465 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PRIM shares. Weiss Ratings cut shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Needham & Company LLC reduced their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Guggenheim lifted their target price on shares of Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a report on Monday, April 20th. DA Davidson set a $180.00 price target on shares of Primoris Services in a research note on Wednesday, February 25th. Finally, Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.20.

Primoris Services Trading Down 9.7%

Shares of PRIM stock opened at $93.87 on Thursday. The business’s fifty day moving average price is $138.54 and its 200 day moving average price is $139.71. The firm has a market capitalization of $5.09 billion, a PE ratio of 20.68 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. Primoris Services Corporation has a 1-year low of $71.84 and a 1-year high of $205.50.

Primoris Services (NYSE:PRIM) last released its earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, sell-side analysts forecast that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Dividend Announcement

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

Insider Activity

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the 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 transaction, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Lee King sold 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were 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 approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

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.