Gabelli Funds LLC Has $7.55 Million Holdings in Primoris Services Corporation $PRIM

Gabelli Funds LLC cut its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 10.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 60,804 shares of the company’s stock after selling 7,450 shares during the quarter. Gabelli Funds LLC’s holdings in Primoris Services were worth $7,548,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PRIM. Vanguard Group Inc. lifted its position in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after acquiring an additional 466,192 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Primoris Services by 69.6% during the 3rd quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after acquiring an additional 418,374 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Primoris Services by 136.0% during the 3rd quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after acquiring an additional 382,597 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Primoris Services by 1,093.2% during the 3rd quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after acquiring an additional 348,465 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Primoris Services by 2,338.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after acquiring an additional 301,532 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Up 2.1%

PRIM opened at $106.88 on Thursday. Primoris Services Corporation has a fifty-two week low of $68.52 and a fifty-two week high of $205.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market capitalization of $5.80 billion, a P/E ratio of 23.54 and a beta of 1.50. The stock has a fifty day moving average of $144.43 and a 200-day moving average of $140.29.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts expect that Primoris Services Corporation will post 4.49 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s payout ratio is currently 7.05%.

Wall Street Analyst Weigh In

PRIM has been the subject of several research reports. Weiss Ratings cut shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. Guggenheim raised their target price on shares of Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Cantor Fitzgerald raised 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. UBS Group decreased their target price on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, Needham & Company LLC decreased their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.20.

Primoris Services Profile

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.