Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes Position in Primoris Services Corporation $PRIM

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Primoris Services Corporation (NYSE:PRIM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 13,377 shares of the company’s stock, valued at approximately $1,661,000.

Several other institutional investors and hedge funds have also modified their holdings of PRIM. NewEdge Advisors LLC lifted its stake in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after purchasing an additional 194 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock valued at $28,337,000 after purchasing an additional 33,934 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Primoris Services in the 1st quarter valued at $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock valued at $9,650,000 after purchasing an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Primoris Services in the 2nd quarter valued at $274,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRIM. Cantor Fitzgerald lifted their price objective 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. Wells Fargo & Company cut their target price on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. KeyCorp cut their target price on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Guggenheim boosted their target price on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and an average price target of $156.20.

Insider Transactions at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Primoris Services Stock Down 4.2%

Shares of PRIM opened at $122.21 on Friday. The company has a 50-day simple moving average of $140.49 and a 200-day simple moving average of $139.81. The firm has a market capitalization of $6.63 billion, a P/E ratio of 26.92 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. Primoris Services Corporation has a 52 week low of $70.68 and a 52 week high of $205.50.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data 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 for 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 quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities research analysts expect that Primoris Services Corporation will post 4.55 earnings per share 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 given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services’s dividend payout ratio is currently 7.05%.

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.