Private Advisor Group LLC Has $249,000 Stake in Primoris Services Corporation $PRIM

Private Advisor Group LLC lowered its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 85.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,738 shares of the company’s stock after selling 10,008 shares during the quarter. Private Advisor Group LLC’s holdings in Primoris Services were worth $249,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PRIM. Root Financial Partners LLC lifted its stake in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Covestor Ltd grew its stake in Primoris Services by 13.4% in the 4th quarter. Covestor Ltd now owns 719 shares of the company’s stock valued at $89,000 after buying an additional 85 shares during the last quarter. CWM LLC raised its holdings in Primoris Services by 1.1% in the 4th quarter. CWM LLC now owns 8,970 shares of the company’s stock worth $1,114,000 after acquiring an additional 96 shares during the period. Finally, IFP Advisors Inc raised its holdings in Primoris Services by 18.6% in the 4th quarter. IFP Advisors Inc now owns 626 shares of the company’s stock worth $78,000 after acquiring an additional 98 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRIM. Wall Street Zen cut shares of Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Guggenheim restated a “buy” rating and set a $162.00 target price on shares of Primoris Services in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. raised Primoris Services from a “neutral” rating to an “overweight” rating and raised their target price for the company from $105.00 to $116.00 in a report on Monday, June 29th. Finally, Cantor Fitzgerald lowered their target price on Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Primoris Services has an average rating of “Moderate Buy” and an average price target of $142.13.

Insider Activity

In other Primoris Services news, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Primoris Services Price Performance

Shares of Primoris Services stock opened at $86.10 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $4.67 billion, a PE ratio of 18.96 and a beta of 1.41. The firm has a fifty day moving average price of $104.26 and a two-hundred day moving average price of $133.28. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts expect that Primoris Services Corporation will post 1.88 EPS for the current year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

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.