Tieton Capital Management LLC Sells 66,791 Shares of Primoris Services Corporation $PRIM

Tieton Capital Management LLC reduced its stake in Primoris Services Corporation (NYSE:PRIM) by 93.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,400 shares of the company’s stock after selling 66,791 shares during the quarter. Tieton Capital Management LLC’s holdings in Primoris Services were worth $546,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in shares of 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 purchasing an additional 148 shares in the last quarter. Harbour Investments Inc. bought a new position in Primoris Services in the 4th quarter valued at approximately $33,000. Salomon & Ludwin LLC bought a new position in Primoris Services in the 4th quarter valued at approximately $44,000. Cullen Frost Bankers Inc. lifted its position in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in 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 acquiring an additional 195 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald upped their price objective on Primoris Services from $113.00 to $124.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Mizuho raised Primoris Services from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $175.00 to $135.00 in a research report on Monday, May 11th. DA Davidson set a $180.00 price objective on Primoris Services in a research report on Wednesday, February 25th. Finally, UBS Group lowered their price objective on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.20.

Primoris Services Trading Down 3.6%

NYSE:PRIM opened at $121.22 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 26.70 and a beta of 1.37. Primoris Services Corporation has a one year low of $70.68 and a one year high of $205.50. The business has a fifty day moving average price of $142.06 and a 200-day moving average price of $139.79.

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

Primoris Services Announces Dividend

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 paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s dividend payout ratio is 7.05%.

Insider Buying and Selling at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director David Lee King sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Primoris Services Company 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.