Horizons Wealth Management Trims Stock Position in Primoris Services Corporation $PRIM

Horizons Wealth Management cut its holdings in Primoris Services Corporation (NYSE:PRIM) by 57.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,976 shares of the company’s stock after selling 5,362 shares during the period. Horizons Wealth Management’s holdings in Primoris Services were worth $494,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new position in shares of Primoris Services during the 4th quarter worth approximately $973,000. GAMMA Investing LLC raised its position in Primoris Services by 120.4% in the fourth quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after purchasing an additional 195 shares during the period. IFP Advisors Inc raised its position in Primoris Services by 835.3% in the third quarter. IFP Advisors Inc now owns 477 shares of the company’s stock valued at $66,000 after purchasing an additional 426 shares during the period. Swiss Life Asset Management Ltd acquired a new position in Primoris Services during the third quarter worth $356,000. Finally, Cambria Investment Management L.P. lifted its stake in Primoris Services by 24.9% during the third quarter. Cambria Investment Management L.P. now owns 8,613 shares of the company’s stock worth $1,183,000 after purchasing an additional 1,719 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services Stock Up 3.7%

Shares of PRIM stock opened at $143.40 on Friday. The firm has a 50 day simple moving average of $149.22. The stock has a market cap of $7.75 billion, a PE ratio of 28.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. Primoris Services Corporation has a 52 week low of $49.10 and a 52 week high of $174.43.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data 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. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 annualized dividend and a yield of 0.2%. Primoris Services’s dividend payout ratio is 6.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PRIM shares. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Mizuho increased their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. UBS Group raised their target price on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Wells Fargo & Company boosted their price target on shares of Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.