Primoris Services Co. $PRIM Shares Sold by Royce & Associates LP

Royce & Associates LP lowered its stake in Primoris Services Co. (NASDAQ:PRIM) by 30.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 139,320 shares of the construction company’s stock after selling 61,955 shares during the quarter. Royce & Associates LP’s holdings in Primoris Services were worth $19,133,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in shares of Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after purchasing an additional 194 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Primoris Services by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock worth $28,337,000 after buying an additional 33,934 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Primoris Services during the first quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock valued at $9,650,000 after acquiring an additional 33,818 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Primoris Services by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 46,353 shares of the construction company’s stock valued at $3,613,000 after acquiring an additional 1,123 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Price Performance

Shares of PRIM stock opened at $150.29 on Monday. The firm’s 50-day moving average is $146.07 and its two-hundred day moving average is $133.79. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $174.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $8.12 billion, a PE ratio of 49.77 and a beta of 1.37.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio is currently 6.36%.

Analysts Set New Price Targets

PRIM has been the topic of a number of research reports. Jefferies Financial Group restated a “buy” rating and issued a $161.00 price objective on shares of Primoris Services in a report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the company a “neutral” rating in a report on Tuesday, February 24th. Finally, DA Davidson set a $180.00 target price on shares of Primoris Services in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Insider Transactions at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the completion of the transaction, the director owned 74,466 shares of the company’s stock, valued at $10,127,376. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carla S. Mashinski sold 2,082 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by company insiders.

Primoris Services Company Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.