Westfield Capital Management Co. LP Purchases 4,888 Shares of Primoris Services Corporation $PRIM

Westfield Capital Management Co. LP raised its position in shares of Primoris Services Corporation (NYSE:PRIM) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 952,196 shares of the company’s stock after acquiring an additional 4,888 shares during the period. Westfield Capital Management Co. LP’s holdings in Primoris Services were worth $118,206,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PRIM. Norges Bank acquired a new position in shares of Primoris Services during the fourth quarter valued at about $103,368,000. Vanguard Group Inc. lifted its stake in shares of Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after buying an additional 466,192 shares during the period. American Century Companies Inc. lifted its stake in shares of Primoris Services by 69.6% in the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock valued at $140,057,000 after buying an additional 418,374 shares during the period. Wellington Management Group LLP lifted its stake in shares of Primoris Services by 136.0% in the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock valued at $91,185,000 after buying an additional 382,597 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Primoris Services by 1,093.2% in the third quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock valued at $52,232,000 after buying an additional 348,465 shares during the period. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Stock Performance

NYSE PRIM opened at $127.54 on Friday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 28.09 and a beta of 1.36. The company has a 50 day moving average of $141.03 and a 200-day moving average of $139.93. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 1-year low of $70.68 and a 1-year high of $205.50.

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 firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts forecast that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend 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 presently 7.05%.

Analyst Ratings Changes

A number of brokerages have commented on PRIM. JPMorgan Chase & Co. raised their price objective on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Cantor Fitzgerald raised their price objective on Primoris Services from $113.00 to $124.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Finally, Wolfe Research began coverage on Primoris Services in a research report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price objective for the company. One research 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 given a Sell rating to the company. According to MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

Insider Buying and Selling

In related news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were 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 owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company 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.