Meeder Asset Management Inc. Has $501,000 Stake in Primoris Services Corporation $PRIM

Meeder Asset Management Inc. trimmed its position in shares of Primoris Services Corporation (NYSE:PRIM) by 90.5% during the 1st quarter, HoldingsChannel reports. The firm owned 3,500 shares of the company’s stock after selling 33,327 shares during the quarter. Meeder Asset Management Inc.’s holdings in Primoris Services were worth $501,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC grew its holdings in shares of Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. Harbour Investments Inc. acquired a new position in Primoris Services during the fourth quarter valued at $33,000. Salomon & Ludwin LLC purchased a new stake in Primoris Services in the 4th quarter worth about $44,000. Cullen Frost Bankers Inc. lifted its stake in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Primoris Services by 120.4% during the 4th quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock worth $44,000 after acquiring an additional 195 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Trading Up 0.7%

Shares of NYSE PRIM opened at $86.55 on Tuesday. The business has a 50 day simple moving average of $103.71 and a 200 day simple moving average of $133.01. Primoris Services Corporation has a 52 week low of $65.00 and a 52 week high of $205.50. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 19.06 and a beta of 1.41. 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 (NYSE:PRIM) last issued 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 business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue was down 5.4% compared to the same quarter last year. 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, research analysts predict that Primoris Services Corporation will post 1.88 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was 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 in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PRIM shares. The Goldman Sachs Group raised Primoris Services from a “sell” rating to a “neutral” rating and lowered their target price for the company from $107.00 to $102.00 in a research note on Thursday, June 25th. Guggenheim reissued a “buy” rating and issued a $162.00 price target on shares of Primoris Services in a research report on Tuesday, June 23rd. Oppenheimer assumed coverage on shares of Primoris Services in a report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price target for the company. Cantor Fitzgerald lowered their price objective on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. upgraded shares of Primoris Services from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $105.00 to $116.00 in a research note on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

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.