Primoris Services Corporation $PRIM Holdings Boosted by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP boosted its position in shares of Primoris Services Corporation (NYSE:PRIM) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 952,196 shares of the company’s stock after purchasing an additional 4,888 shares during the period. Westfield Capital Management Co. LP owned 1.76% of Primoris Services worth $118,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Primoris Services during the 3rd quarter worth approximately $1,726,000. J.W. Cole Advisors Inc. purchased a new position in Primoris Services during the 3rd quarter worth approximately $1,193,000. Nordea Investment Management AB purchased a new position in Primoris Services during the 4th quarter worth approximately $7,181,000. New York State Teachers Retirement System grew its position in Primoris Services by 327.8% during the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Primoris Services by 509.6% during the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock worth $41,800,000 after purchasing an additional 281,482 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services Trading Up 1.0%

Shares of NYSE:PRIM opened at $127.54 on Friday. The stock has a market capitalization of $6.92 billion, a PE ratio of 28.09 and a beta of 1.36. Primoris Services Corporation has a 1 year low of $70.68 and a 1 year high of $205.50. The firm has a fifty day moving average price of $141.03 and a 200 day moving average price of $139.93. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (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 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 company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts expect that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Announces Dividend

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

Insiders Place Their Bets

In other Primoris Services news, Director David Lee King sold 20,000 shares of the company’s 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 sale, the director directly owned 14,941 shares in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction dated 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 sale, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC lowered their price target on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Guggenheim boosted their price target 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. Mizuho upgraded shares of Primoris Services from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $175.00 to $135.00 in a report on Monday, May 11th. Finally, Wolfe Research started coverage on shares of Primoris Services in a report on Thursday, April 9th. They set an “outperform” rating and a $183.00 price target on the stock. One 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.