Counterpoint Mutual Funds LLC Invests $407,000 in Primoris Services Co. $PRIM

Counterpoint Mutual Funds LLC bought a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the second quarter, Holdings Channel reports. The institutional investor bought 5,218 shares of the construction company’s stock, valued at approximately $407,000.

Several other large investors also recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in Primoris Services by 294.1% during the first quarter. Versant Capital Management Inc now owns 465 shares of the construction company’s stock valued at $27,000 after purchasing an additional 347 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Primoris Services by 3,626.7% in the 1st quarter. Brooklyn Investment Group now owns 559 shares of the construction company’s stock worth $32,000 after buying an additional 544 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Primoris Services by 6,687.5% during the 2nd quarter. Parallel Advisors LLC now owns 543 shares of the construction company’s stock valued at $42,000 after buying an additional 535 shares in the last quarter. NewEdge Advisors LLC lifted 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 valued at $43,000 after acquiring an additional 194 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new position in shares of Primoris Services in the 1st quarter valued at about $45,000. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael E. Ching sold 2,935 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $119.89, for a total transaction of $351,877.15. Following the sale, the director owned 9,534 shares of the company’s stock, valued at $1,143,031.26. This trade represents a 23.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeremy Kinch sold 3,006 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $124.00, for a total transaction of $372,744.00. Following the completion of the transaction, the chief operating officer owned 9,580 shares of the company’s stock, valued at $1,187,920. This represents a 23.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,941 shares of company stock worth $3,004,821 in the last three months. 1.40% of the stock is owned by insiders.

Primoris Services Trading Down 0.3%

NASDAQ:PRIM opened at $132.61 on Wednesday. The firm has a 50-day simple moving average of $109.64 and a 200-day simple moving average of $82.89. Primoris Services Co. has a one year low of $49.10 and a one year high of $135.73. The firm has a market cap of $7.16 billion, a P/E ratio of 43.91 and a beta of 1.42. 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 (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 4th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.58. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.69 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. Equities analysts anticipate that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Primoris Services’s payout ratio is presently 7.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRIM shares. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Glj Research initiated coverage on Primoris Services in a report on Monday. They set a “buy” rating and a $160.00 price target on the stock. Janney Montgomery Scott began coverage on shares of Primoris Services in a research note on Thursday, July 3rd. They set a “buy” rating and a $102.00 price objective for the company. UBS Group boosted their price objective on shares of Primoris Services from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Mizuho began coverage on shares of Primoris Services in a report on Thursday, September 4th. They issued a “neutral” rating and a $112.00 target price for the company. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $108.82.

Primoris Services Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.