Value Holdings Management CO. LLC Has $61.62 Million Stake in Primoris Services Co. $PRIM

Value Holdings Management CO. LLC decreased its holdings in Primoris Services Co. (NASDAQ:PRIM) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 448,675 shares of the construction company’s stock after selling 13,000 shares during the period. Primoris Services makes up about 9.9% of Value Holdings Management CO. LLC’s portfolio, making the stock its 2nd biggest position. Value Holdings Management CO. LLC’s holdings in Primoris Services were worth $61,616,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Hodges Capital Management Inc. acquired a new position in Primoris Services during the second quarter worth about $3,320,000. Federated Hermes Inc. lifted its stake in Primoris Services by 5.8% in the 2nd quarter. Federated Hermes Inc. now owns 347,785 shares of the construction company’s stock valued at $27,106,000 after purchasing an additional 18,951 shares during the last quarter. Jump Financial LLC boosted its position in Primoris Services by 550.4% in the first quarter. Jump Financial LLC now owns 109,486 shares of the construction company’s stock valued at $6,286,000 after buying an additional 92,652 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Primoris Services by 358.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 69,481 shares of the construction company’s stock valued at $3,989,000 after buying an additional 54,331 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Primoris Services during the second quarter worth $368,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Activity

In other news, CEO David Lee King sold 3,500 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $130.00, for a total transaction of $455,000.00. Following the completion of the sale, the chief executive officer directly owned 21,302 shares in the company, valued at $2,769,260. This represents a 14.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patricia K. Wagner sold 13,491 shares of Primoris Services stock in a transaction on Friday, November 7th. The stock was sold at an average price of $125.23, for a total transaction of $1,689,477.93. Following the transaction, the director directly owned 4,495 shares of the company’s stock, valued at $562,908.85. This represents a 75.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 26,888 shares of company stock valued at $3,488,679. Company insiders own 1.40% of the company’s stock.

Primoris Services Stock Up 1.0%

Shares of PRIM opened at $125.40 on Friday. The stock’s 50-day moving average price is $129.83 and its two-hundred day moving average price is $112.34. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $146.16. The company has a market capitalization of $6.78 billion, a PE ratio of 41.52 and a beta of 1.37. 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 issued its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.51. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $1.22 earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, analysts anticipate that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.08 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services’s payout ratio is 6.31%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research cut Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Needham & Company LLC reaffirmed a “buy” rating on shares of Primoris Services in a report on Wednesday, November 5th. Roth Capital initiated coverage on Primoris Services in a research note on Thursday, October 9th. They set a “buy” rating and a $170.00 price target on the stock. UBS Group boosted their price target on Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Wells Fargo & Company began coverage on Primoris Services in a research note on Friday, November 14th. They issued an “equal weight” rating and a $138.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and an average target price of $140.57.

Primoris Services Company Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.