Primoris Services Corporation $PRIM Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP decreased its position in Primoris Services Corporation (NYSE:PRIM) by 43.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,177 shares of the company’s stock after selling 56,703 shares during the quarter. Aventail Capital Group LP owned 0.14% of Primoris Services worth $9,208,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Primoris Services in the third quarter valued at approximately $1,726,000. Nordea Investment Management AB purchased a new position in Primoris Services in the fourth quarter valued at approximately $7,181,000. New York State Teachers Retirement System increased its stake in Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after purchasing an additional 16,008 shares during the last quarter. Principal Financial Group Inc. increased its stake in Primoris Services by 509.6% in the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after purchasing an additional 281,482 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Primoris Services by 2,338.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock valued at $39,033,000 after purchasing an additional 301,532 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Stock Performance

Shares of PRIM opened at $101.57 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a market cap of $5.51 billion, a PE ratio of 22.37 and a beta of 1.36. The company’s 50 day simple moving average is $133.77 and its 200-day simple moving average is $138.87. Primoris Services Corporation has a 12-month low of $73.62 and a 12-month high of $205.50.

Primoris Services (NYSE:PRIM) last announced its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities analysts predict that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Insider Buying and Selling

In other news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares in the company, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PRIM. Cantor Fitzgerald reiterated a “neutral” rating on shares of Primoris Services in a research note on Tuesday, June 9th. Wells Fargo & Company dropped their price target on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen lowered shares of Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. increased their price target on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Finally, DA Davidson set a $180.00 price target on shares of Primoris Services in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and an average target price of $153.93.

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.