15,151 Shares in Primoris Services Co. $PRIM Acquired by Vest Financial LLC

Vest Financial LLC acquired a new position in Primoris Services Co. (NASDAQ:PRIM) in the 2nd quarter, Holdings Channel reports. The firm acquired 15,151 shares of the construction company’s stock, valued at approximately $1,181,000.

Several other hedge funds also recently added to or reduced their stakes in PRIM. Nuveen LLC purchased a new position in Primoris Services in the first quarter worth approximately $111,497,000. Fuller & Thaler Asset Management Inc. grew its position in Primoris Services by 122.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,783,872 shares of the construction company’s stock worth $102,412,000 after acquiring an additional 980,940 shares during the period. Millennium Management LLC grew its position in Primoris Services by 262.1% in the first quarter. Millennium Management LLC now owns 728,405 shares of the construction company’s stock worth $41,818,000 after acquiring an additional 527,240 shares during the period. Pacer Advisors Inc. purchased a new position in Primoris Services in the first quarter worth approximately $24,133,000. Finally, Yaupon Capital Management LP boosted its position in shares of Primoris Services by 1,103.7% during the first quarter. Yaupon Capital Management LP now owns 381,316 shares of the construction company’s stock worth $21,891,000 after buying an additional 349,637 shares during the period. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Roth Capital assumed coverage on Primoris Services in a research report on Thursday, October 9th. They set a “buy” rating and a $170.00 price target for the company. Guggenheim restated a “neutral” rating on shares of Primoris Services in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Primoris Services from $90.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 22nd. UBS Group raised their price target on Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Finally, Mizuho assumed coverage on Primoris Services in a research report on Thursday, September 4th. They set a “neutral” rating and a $112.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $125.17.

Primoris Services Trading Down 1.6%

NASDAQ:PRIM opened at $138.33 on Thursday. The firm has a market cap of $7.47 billion, a PE ratio of 45.80 and a beta of 1.43. The stock has a fifty day moving average price of $123.60 and a 200 day moving average price of $90.83. Primoris Services Co. has a 12-month low of $49.10 and a 12-month high of $142.84. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

Primoris Services (NASDAQ:PRIM) last released its earnings results 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 during the quarter, compared to analyst estimates of $1.69 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.Primoris Services’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. Sell-side analysts anticipate that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.08 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is 7.26%.

Insiders Place Their Bets

In other Primoris Services news, Director Michael E. Ching sold 2,935 shares of Primoris Services 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 completion of the sale, the director directly owned 9,534 shares of the company’s stock, valued at $1,143,031.26. The trade was a 23.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $114.01, for a total value of $2,280,200.00. Following the sale, the director directly owned 82,281 shares of the company’s stock, valued at $9,380,856.81. This trade represents a 19.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,941 shares of company stock valued at $3,004,821 in the last ninety days. Insiders own 1.40% of the company’s stock.

Primoris Services Company 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.