Primoris Services (NYSE:PRIM) Insider John Perisich Sells 29,707 Shares

Primoris Services Corporation (NYSE:PRIM) insider John Perisich sold 29,707 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Primoris Services Stock Performance

Shares of PRIM traded down $0.68 during trading hours on Friday, hitting $125.93. The stock had a trading volume of 1,850,044 shares, compared to its average volume of 2,731,970. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a 50-day moving average price of $142.50 and a 200 day moving average price of $139.75. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 27.74 and a beta of 1.50. Primoris Services Corporation has a fifty-two week low of $70.68 and a fifty-two week 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 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 return on equity of 16.48% and a net margin of 3.31%.The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, research analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. Primoris Services’s dividend payout ratio is currently 7.05%.

Institutional Investors Weigh In On Primoris Services

Large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. grew its holdings in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Harbour Investments Inc. purchased a new stake in shares of Primoris Services in the fourth quarter valued at about $33,000. Root Financial Partners LLC grew its holdings in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Primoris Services in the second quarter valued at about $34,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Primoris Services in the third quarter valued at about $37,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PRIM shares. Weiss Ratings cut shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. DA Davidson set a $180.00 target price on shares of Primoris Services in a report on Wednesday, February 25th. Wolfe Research initiated coverage on shares of Primoris Services in a report on Thursday, April 9th. They set an “outperform” rating and a $183.00 target price for the company. Guggenheim upped their target price on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.20.

About Primoris Services

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.