Van Berkom & Associates Inc. Has $66.17 Million Stock Holdings in Primoris Services Corporation $PRIM

Van Berkom & Associates Inc. trimmed its position in shares of Primoris Services Corporation (NYSE:PRIM) by 19.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,583 shares of the company’s stock after selling 110,138 shares during the period. Primoris Services comprises approximately 2.2% of Van Berkom & Associates Inc.’s portfolio, making the stock its 26th biggest holding. Van Berkom & Associates Inc. owned about 0.85% of Primoris Services worth $66,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC grew its stake in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after buying an additional 194 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Primoris Services by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after acquiring an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new stake in Primoris Services in the first quarter worth approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Primoris Services by 25.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after purchasing an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Primoris Services during the 2nd quarter worth $274,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the business’s stock in a transaction 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 sale, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Primoris Services Stock Performance

NYSE:PRIM opened at $86.10 on Monday. The firm’s 50-day moving average is $104.26 and its 200-day moving average is $133.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. Primoris Services Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 18.96 and a beta of 1.41.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data 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 firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business posted $0.98 EPS. Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services Corporation will post 1.88 earnings per share for the current year.

Primoris Services Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PRIM. Wolfe Research restated an “outperform” rating and set a $149.00 price target on shares of Primoris Services in a report on Monday, June 15th. Needham & Company LLC decreased their price objective on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a report on Monday, July 13th. The Goldman Sachs Group raised shares of Primoris Services from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $107.00 to $102.00 in a research report on Thursday, June 25th. Wells Fargo & Company reduced their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 23rd. Finally, Oppenheimer began coverage on Primoris Services in a research note on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price target for the company. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.13.

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.