Versor Investments LP Acquires 7,673 Shares of Primoris Services Corporation $PRIM

Versor Investments LP grew its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 131.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,513 shares of the company’s stock after buying an additional 7,673 shares during the quarter. Versor Investments LP’s holdings in Primoris Services were worth $1,678,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. lifted its position in Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after buying an additional 148 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Primoris Services during the 3rd quarter worth about $37,000. Richardson Financial Services Inc. raised its holdings in shares of Primoris Services by 163.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 321 shares of the company’s stock valued at $44,000 after purchasing an additional 199 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Primoris Services in the 4th quarter valued at about $44,000. Finally, GAMMA Investing LLC raised its holdings in shares of Primoris Services by 120.4% in the 4th quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after purchasing an additional 195 shares during the period. 91.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

PRIM has been the topic of a number of research analyst reports. DA Davidson set a $180.00 target price on shares of Primoris Services in a report on Wednesday, February 25th. Wolfe Research initiated coverage on shares of Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 target price on the stock. Weiss Ratings cut shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Wells Fargo & Company dropped their target price on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Cantor Fitzgerald set a $160.00 target price on shares of Primoris Services and gave the company a “neutral” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and a consensus price target of $158.60.

Primoris Services Stock Up 8.9%

Primoris Services stock opened at $114.16 on Tuesday. The stock has a market cap of $6.19 billion, a P/E ratio of 25.14 and a beta of 1.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a twelve month low of $68.52 and a twelve month high of $205.50. The company’s 50-day moving average price is $148.95 and its two-hundred day moving average price is $141.80.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts expect that Primoris Services Corporation will post 5.47 EPS for the current year.

Primoris Services Dividend Announcement

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

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.