Los Angeles Capital Management LLC Sells 8,164 Shares of Primoris Services Corporation $PRIM

Los Angeles Capital Management LLC reduced its position in Primoris Services Corporation (NYSE:PRIM) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,463 shares of the company’s stock after selling 8,164 shares during the period. Los Angeles Capital Management LLC’s holdings in Primoris Services were worth $4,278,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PRIM. NewEdge Advisors LLC lifted its holdings in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after purchasing an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Primoris Services in the 1st quarter worth $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Primoris Services by 25.2% in 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 in the last quarter. Finally, M&T Bank Corp bought a new position in shares of Primoris Services in the 2nd quarter worth $274,000. 91.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

PRIM has been the topic of a number of recent research reports. Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $175.00 to $135.00 in a report on Monday, May 11th. Wolfe Research initiated coverage on Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 target price on the stock. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wells Fargo & Company cut their target price on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Finally, DA Davidson set a $180.00 target price on Primoris Services in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services has an average rating of “Moderate Buy” and an average price target of $156.20.

Primoris Services Trading Up 1.2%

NYSE PRIM opened at $123.33 on Tuesday. The firm has a market capitalization of $6.69 billion, a P/E ratio of 27.16 and a beta of 1.37. The business has a fifty day simple moving average of $140.15 and a 200 day simple moving average of $140.00. Primoris Services Corporation has a 12 month low of $70.68 and a 12 month high of $205.50. 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 released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 3.31% and a return on equity of 16.48%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, analysts predict that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Dividend Announcement

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