Primoris Services Corporation $PRIM Position Reduced by Bruni J V & Co. Co.

Bruni J V & Co. Co. trimmed its position in shares of Primoris Services Corporation (NYSE:PRIM) by 3.3% during the fourth quarter, Holdings Channel reports. The firm owned 442,847 shares of the company’s stock after selling 15,047 shares during the quarter. Primoris Services comprises approximately 5.4% of Bruni J V & Co. Co.’s holdings, making the stock its 6th biggest position. Bruni J V & Co. Co.’s holdings in Primoris Services were worth $54,975,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Primoris Services during the third quarter worth $1,726,000. J.W. Cole Advisors Inc. purchased a new stake in Primoris Services during the third quarter worth $1,193,000. Nordea Investment Management AB purchased a new stake in Primoris Services during the fourth quarter worth $7,181,000. Leuthold Group LLC boosted its position in Primoris Services by 1,350.3% during the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after purchasing an additional 45,572 shares in the last quarter. Finally, New York State Teachers Retirement System boosted its position in Primoris Services by 327.8% during the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRIM has been the subject of a number of analyst reports. Wolfe Research initiated coverage on Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price target for the company. Guggenheim boosted their price target on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. UBS Group cut their price target on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a report on Monday, May 11th. Weiss Ratings cut Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Finally, Needham & Company LLC cut their price target on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

Primoris Services Stock Performance

Primoris Services stock opened at $125.93 on Friday. The firm has a market capitalization of $6.83 billion, a P/E ratio of 27.74 and a beta of 1.50. The stock has a fifty day moving average price of $142.50 and a 200 day moving average price of $139.75. Primoris Services Corporation has a 52 week low of $70.68 and a 52 week high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last released its earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Announces Dividend

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

Insider Buying and Selling at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider directly owned 27,574 shares in the company, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Lee King sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the transaction, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Primoris Services 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.