Aventail Capital Group LP Acquires Shares of 130,880 Primoris Services Corporation $PRIM

Aventail Capital Group LP bought a new position in shares of Primoris Services Corporation (NYSE:PRIM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 130,880 shares of the company’s stock, valued at approximately $17,974,000.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its position in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after buying an additional 148 shares in the last quarter. Osterweis Capital Management Inc. acquired a new stake in Primoris Services during the second quarter worth approximately $34,000. Blue Bell Private Wealth Management LLC bought a new position in Primoris Services during the 3rd quarter worth $37,000. Cullen Frost Bankers Inc. bought a new position in Primoris Services during the 3rd quarter worth $37,000. Finally, McIlrath & Eck LLC raised its holdings in Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after acquiring an additional 145 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. 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. Mizuho boosted their price target on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. UBS Group increased their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Primoris Services has an average rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services Stock Up 0.9%

Primoris Services stock opened at $133.49 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $7.22 billion, a PE ratio of 26.54 and a beta of 1.36. Primoris Services Corporation has a 12-month low of $49.10 and a 12-month high of $174.43. The company has a 50-day simple moving average of $148.23.

Primoris Services (NYSE:PRIM) last posted its earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business’s revenue for the quarter 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.

Primoris Services Dividend Announcement

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

Primoris Services Company 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.