LSV Asset Management Has $6.67 Million Position in Primoris Services Corporation $PRIM

LSV Asset Management lowered its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 77.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,700 shares of the company’s stock after selling 182,500 shares during the period. LSV Asset Management owned about 0.10% of Primoris Services worth $6,666,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its stake in Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after buying an additional 148 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Primoris Services during the third quarter worth $37,000. Salomon & Ludwin LLC acquired a new stake in shares of Primoris Services in the 4th quarter valued at $44,000. GAMMA Investing LLC boosted its stake in shares of Primoris Services by 120.4% in the 4th quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after purchasing an additional 195 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of Primoris Services in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Stock Performance

Primoris Services stock opened at $130.14 on Wednesday. The stock has a 50-day simple moving average of $143.24 and a 200 day simple moving average of $139.81. 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 Corporation has a 12-month low of $70.68 and a 12-month high of $205.50. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 28.67 and a beta of 1.50.

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

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s payout ratio is currently 7.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on PRIM. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Mizuho upgraded shares of Primoris Services from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $175.00 to $135.00 in a research note on Monday, May 11th. KeyCorp reduced their target price on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Cantor Fitzgerald boosted their target price on shares of Primoris Services from $113.00 to $124.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Finally, DA Davidson set a $180.00 target price on shares of Primoris Services in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $156.20.

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.