WBI Investments LLC Makes New $2.68 Million Investment in Primoris Services Corporation $PRIM

WBI Investments LLC purchased a new stake in shares of Primoris Services Corporation (NYSE:PRIM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 19,538 shares of the company’s stock, valued at approximately $2,683,000. Primoris Services comprises 0.7% of WBI Investments LLC’s portfolio, making the stock its 24th largest position.

Several other large investors have also recently made changes to their positions in PRIM. Crown Advisors Management Inc. bought a new stake in shares of Primoris Services in the 3rd quarter worth approximately $2,059,000. Danske Bank A S bought a new position in shares of Primoris Services during the 3rd quarter valued at $6,147,000. Stance Capital LLC purchased a new position in Primoris Services in the 3rd quarter worth $104,000. NewEdge Advisors LLC lifted its stake in Primoris Services by 5.5% in the third quarter. NewEdge Advisors LLC now owns 2,071 shares of the company’s stock worth $284,000 after purchasing an additional 108 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Primoris Services in the third quarter worth $3,304,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Trading Down 0.8%

Shares of NYSE:PRIM opened at $140.26 on Wednesday. The company has a market capitalization of $7.58 billion, a P/E ratio of 27.88 and a beta of 1.36. The company’s 50-day moving average price is $148.66. 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 Corporation has a 12 month low of $49.10 and a 12 month high of $174.43.

Primoris Services (NYSE:PRIM) last posted its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.82 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Primoris Services’s revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend 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 Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Guggenheim boosted their price objective on Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Mizuho increased their price objective on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.20.

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.