Primoris Services (NYSE:PRIM) Director David Lee King Sells 20,000 Shares

Primoris Services Corporation (NYSE:PRIM) Director David Lee King sold 20,000 shares of the stock in a transaction dated 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 transaction, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Primoris Services Price Performance

PRIM stock opened at $126.48 on Friday. 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 $6.86 billion, a P/E ratio of 27.86 and a beta of 1.50. The business’s 50-day moving average is $142.75 and its two-hundred day moving average is $139.85. 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 results on Tuesday, May 5th. The company reported $0.59 earnings per share (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%. Primoris Services’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts anticipate that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced 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. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

Hedge Funds Weigh In On Primoris Services

Several hedge funds and other institutional investors have recently bought and sold shares of PRIM. NewEdge Advisors LLC raised its holdings in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after purchasing an additional 33,934 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Primoris Services in the first quarter worth $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Primoris Services by 25.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after acquiring an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Primoris Services in the second quarter worth $274,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRIM has been the topic of a number of research reports. Wall Street Zen downgraded Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings downgraded Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 6th. KeyCorp reduced their price target on Primoris Services from $179.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Guggenheim raised their price target on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.20.

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.