Westfield Capital Management Co. LP Has $130.09 Million Holdings in Primoris Services Co. $PRIM

Westfield Capital Management Co. LP raised its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 44.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 947,308 shares of the construction company’s stock after purchasing an additional 293,085 shares during the period. Westfield Capital Management Co. LP owned approximately 1.75% of Primoris Services worth $130,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after buying an additional 194 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock worth $28,337,000 after acquiring an additional 33,934 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Primoris Services in the first quarter valued at about $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock valued at $9,650,000 after purchasing an additional 33,818 shares in the last quarter. Finally, Ethic Inc. purchased a new position in Primoris Services during the second quarter worth about $243,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Price Performance

NASDAQ PRIM opened at $152.40 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The company has a market cap of $8.23 billion, a PE ratio of 50.46 and a beta of 1.37. Primoris Services Co. has a 52 week low of $49.10 and a 52 week high of $174.43. The firm’s 50-day simple moving average is $145.01 and its two-hundred day simple moving average is $133.11.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Research analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio is currently 6.31%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. KeyCorp lifted their target price on shares of Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Mizuho boosted their price objective on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday. Jefferies Financial Group restated a “buy” rating and set a $161.00 price target on shares of Primoris Services in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and an average price target of $151.20.

Insiders Place Their Bets

In other news, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the transaction, the director directly owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $135.14, for a total value of $281,361.48. Following the sale, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This trade represents a 8.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by company insiders.

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.