Hodges Capital Management Inc. Decreases Stake in Primoris Services Corporation $PRIM

Hodges Capital Management Inc. cut its holdings in Primoris Services Corporation (NYSE:PRIM) by 18.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,000 shares of the company’s stock after selling 7,100 shares during the quarter. Hodges Capital Management Inc.’s holdings in Primoris Services were worth $3,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Cullen Frost Bankers Inc. boosted its stake in shares of Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Assetmark Inc. boosted its position in Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock worth $131,000 after purchasing an additional 84 shares in the last quarter. Covestor Ltd boosted its position in Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the company’s stock worth $89,000 after purchasing an additional 85 shares in the last quarter. CWM LLC boosted its position in Primoris Services by 1.1% during the fourth quarter. CWM LLC now owns 8,970 shares of the company’s stock worth $1,114,000 after purchasing an additional 96 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in Primoris Services by 18.6% during the fourth quarter. IFP Advisors Inc now owns 626 shares of the company’s stock worth $78,000 after purchasing an additional 98 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRIM. Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Guggenheim boosted their target price on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Primoris Services in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.20.

Insider Buying and Selling at Primoris Services

In other 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 value of $3,798,337.02. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Lee King sold 20,000 shares of the company’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 completion of the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by corporate insiders.

Primoris Services Stock Down 9.7%

Shares of NYSE:PRIM opened at $93.87 on Thursday. 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 Corporation has a 52-week low of $71.84 and a 52-week high of $205.50. The stock’s fifty day simple moving average is $138.54 and its 200-day simple moving average is $139.71. The company has a market capitalization of $5.09 billion, a P/E ratio of 20.68 and a beta of 1.36.

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 the consensus estimate 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 analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The firm’s revenue 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. As a group, equities research analysts forecast that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.08 dividend. 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%.

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.