Insider Selling: Primoris Services (NYSE:PRIM) Director Sells 20,000 Shares of Stock

Primoris Services Corporation (NYSE:PRIM) Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the transaction, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Primoris Services Stock Performance

PRIM traded down $4.15 on Thursday, hitting $126.48. The company’s stock had a trading volume of 2,066,332 shares, compared to its average volume of 1,170,188. The company’s 50 day simple moving average is $142.75 and its 200-day simple moving average is $139.85. The firm has a market cap of $6.86 billion, a P/E ratio of 27.86 and a beta of 1.50. Primoris Services Corporation has a 12 month low of $70.68 and a 12 month high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

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

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PRIM shares. DA Davidson set a $180.00 price objective on shares of Primoris Services in a research report on Wednesday, February 25th. Guggenheim increased their target price on shares of Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a report on Monday, April 20th. JPMorgan Chase & Co. increased their target price on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Wall Street Zen lowered shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, UBS Group reduced their target price on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.20.

Hedge Funds Weigh In On Primoris Services

Several institutional investors and hedge funds have recently made changes to their positions in PRIM. SBI Securities Co. Ltd. grew its holdings in Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after acquiring an additional 148 shares during the last quarter. Harbour Investments Inc. bought a new stake in Primoris Services in the 4th quarter worth $33,000. Root Financial Partners LLC grew its holdings in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in Primoris Services in the 2nd quarter worth $34,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Primoris Services in the 3rd quarter worth $37,000. Institutional investors own 91.82% of the company’s stock.

About Primoris Services

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.