CSM Advisors LLC Purchases 5,500 Shares of Primoris Services Corporation $PRIM

CSM Advisors LLC raised its position in shares of Primoris Services Corporation (NYSE:PRIM) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,275 shares of the company’s stock after buying an additional 5,500 shares during the quarter. CSM Advisors LLC owned about 0.08% of Primoris Services worth $6,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP increased its stake in shares of Primoris Services by 56.4% in the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the company’s stock worth $142,872,000 after acquiring an additional 660,915 shares in the last quarter. American Century Companies Inc. boosted its stake in Primoris Services by 229.3% during the second quarter. American Century Companies Inc. now owns 601,482 shares of the company’s stock worth $46,880,000 after acquiring an additional 418,805 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 382,597 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in Primoris Services during the third quarter worth about $50,071,000. Finally, Mackenzie Financial Corp grew its holdings in Primoris Services by 1,093.2% in 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 hedge funds and other institutional investors.

Primoris Services Stock Performance

Shares of NYSE PRIM opened at $133.49 on Monday. The business has a 50 day moving average price of $148.23. The company has a market capitalization of $7.22 billion, a P/E ratio of 26.54 and a beta of 1.36. Primoris Services Corporation has a 52-week low of $49.10 and a 52-week high of $174.43. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio (DPR) is currently 6.36%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PRIM. Wells Fargo & Company lifted their target price on shares of Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. The Goldman Sachs Group boosted their price target on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. UBS Group raised their price objective on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Guggenheim lifted their price objective on Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.20.

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.