Hel Ved Capital Management Ltd Acquires 50,975 Shares of Primoris Services Corporation $PRIM

Hel Ved Capital Management Ltd increased its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 113.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,775 shares of the company’s stock after acquiring an additional 50,975 shares during the quarter. Primoris Services comprises 3.2% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 6th biggest holding. Hel Ved Capital Management Ltd owned 0.18% of Primoris Services worth $11,890,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in Primoris Services in the 3rd quarter valued at $1,726,000. Nordea Investment Management AB acquired a new position in Primoris Services in the 4th quarter valued at $7,181,000. New York State Teachers Retirement System grew its holdings in Primoris Services by 327.8% in the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after buying an additional 16,008 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Primoris Services by 509.6% in the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after buying an additional 281,482 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 valued at $39,033,000 after buying an additional 301,532 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Up 4.1%

PRIM stock opened at $98.39 on Friday. The company has a market cap of $5.34 billion, a PE ratio of 21.67 and a beta of 1.36. The business has a 50-day simple moving average of $136.51 and a 200 day simple moving average of $139.26. Primoris Services Corporation has a 52 week low of $72.50 and a 52 week high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last posted 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). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $0.98 EPS. The firm’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. Sell-side analysts anticipate 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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s dividend payout ratio is currently 7.05%.

Insider Buying and Selling at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was 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 directly owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Lee King sold 20,000 shares of the company’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 approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PRIM. Wells Fargo & Company decreased their price objective 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. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. KeyCorp decreased their price objective on Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Finally, Wolfe Research began coverage on Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price objective 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.20.

Primoris Services 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.