Clark Capital Management Group Inc. Raises Stock Position in Primoris Services Corporation $PRIM

Clark Capital Management Group Inc. raised its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 61.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,215 shares of the company’s stock after acquiring an additional 47,578 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Primoris Services were worth $17,196,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in Primoris Services in the 3rd quarter worth approximately $1,726,000. J.W. Cole Advisors Inc. purchased a new stake in Primoris Services during the 3rd quarter valued at approximately $1,193,000. Federated Hermes Inc. grew its holdings in Primoris Services by 5.8% during the 2nd quarter. Federated Hermes Inc. now owns 347,785 shares of the company’s stock valued at $27,106,000 after buying an additional 18,951 shares in the last quarter. Leuthold Group LLC raised its position in shares of Primoris Services by 1,350.3% during the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock valued at $6,722,000 after buying an additional 45,572 shares during the last quarter. Finally, Boston Partners raised its position in shares of Primoris Services by 14.1% during the second quarter. Boston Partners now owns 564,898 shares of the company’s stock valued at $47,823,000 after buying an additional 69,996 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PRIM shares. Guggenheim upped their target price on shares of Primoris Services from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Wells Fargo & Company increased their price objective on shares of Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, February 26th. Finally, Mizuho raised their price objective on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and a consensus target price of $153.20.

Primoris Services Stock Up 0.9%

PRIM stock opened at $133.49 on Monday. Primoris Services Corporation has a 52 week low of $49.10 and a 52 week high of $174.43. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The company’s fifty day simple moving average is $148.23. The company has a market capitalization of $7.22 billion, a price-to-earnings ratio of 26.54 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last posted its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.13 EPS. 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. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Primoris Services’s 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.