Royce & Associates LP Sells 40,980 Shares of Primoris Services Corporation $PRIM

Royce & Associates LP lowered its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,340 shares of the company’s stock after selling 40,980 shares during the quarter. Royce & Associates LP’s holdings in Primoris Services were worth $12,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PRIM. Vanguard Group Inc. lifted its position in Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after purchasing an additional 466,192 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Primoris Services by 69.6% in the 3rd quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after acquiring an additional 418,374 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Primoris Services by 136.0% in the 3rd 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 during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Primoris Services by 1,093.2% in the 3rd quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after acquiring an additional 348,465 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Primoris Services by 2,338.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after acquiring an additional 301,532 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 0.8%

PRIM stock opened at $130.45 on Thursday. The company has a market capitalization of $7.08 billion, a PE ratio of 28.73 and a beta of 1.50. Primoris Services Corporation has a 12 month low of $70.68 and a 12 month high of $205.50. The firm’s 50-day moving average is $143.02 and its 200 day moving average is $139.84. 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 (NYSE:PRIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PRIM. Guggenheim raised their target price on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. KeyCorp lowered their target price on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Mizuho upgraded shares of Primoris Services from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $175.00 to $135.00 in a report on Monday, May 11th. DA Davidson set a $180.00 price target on shares of Primoris Services in a research note on Wednesday, February 25th. Finally, Weiss Ratings downgraded shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Primoris Services currently has a consensus rating of “Moderate Buy” and an average 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.