Picton Mahoney Asset Management Has $5.93 Million Position in Primoris Services Co. $PRIM

Picton Mahoney Asset Management boosted its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 205,557.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,188 shares of the construction company’s stock after acquiring an additional 43,167 shares during the period. Picton Mahoney Asset Management’s holdings in Primoris Services were worth $5,933,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after acquiring an additional 194 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 purchasing an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new stake in Primoris Services during the 1st quarter worth approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Primoris Services by 25.2% in 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 worth $9,650,000 after purchasing an additional 33,818 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings 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 purchasing 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 Stock Performance

NASDAQ PRIM opened at $144.78 on Thursday. The company has a market capitalization of $7.83 billion, a PE ratio of 47.94 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $174.43. The company has a 50-day simple moving average of $147.17 and a 200 day simple moving average of $134.39.

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

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Primoris Services’s dividend payout ratio (DPR) is currently 6.36%.

Insider Buying and Selling at Primoris Services

In other news, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the transaction, the director owned 21,530 shares in the company, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the sale, the director owned 74,466 shares in the company, valued at $10,127,376. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRIM. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Wells Fargo & Company upped their target price 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. Needham & Company LLC reissued a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $161.00 target price on shares of Primoris Services in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $153.20.

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.