Primoris Services Corporation $PRIM Shares Acquired by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd boosted its position in Primoris Services Corporation (NYSE:PRIM) by 113.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,775 shares of the company’s stock after purchasing an additional 50,975 shares during the period. Primoris Services accounts for about 3.2% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 6th biggest holding. Hel Ved Capital Management Ltd’s holdings in Primoris Services were worth $11,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares in the last quarter. Geode Capital Management LLC increased its holdings in Primoris Services by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock worth $164,526,000 after purchasing an additional 42,052 shares in the last quarter. State Street Corp increased its holdings in Primoris Services by 2.6% in the 2nd quarter. State Street Corp now owns 1,320,947 shares of the company’s stock worth $103,058,000 after purchasing an additional 33,399 shares in the last quarter. American Century Companies Inc. increased its holdings in Primoris Services by 69.6% in the 3rd quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after purchasing an additional 418,374 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Primoris Services by 0.5% in the 4th quarter. Westfield Capital Management Co. LP now owns 952,196 shares of the company’s stock worth $118,206,000 after purchasing an additional 4,888 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Trading Up 4.1%

NYSE PRIM opened at $98.39 on Friday. The business has a 50 day simple moving average of $136.51 and a 200 day simple moving average of $139.26. Primoris Services Corporation has a one year low of $72.50 and a one year high of $205.50. The stock has a market capitalization of $5.34 billion, a P/E ratio of 21.67 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28.

Primoris Services (NYSE:PRIM) last released its earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts expect that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid 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 yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Insider Activity at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was 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 owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, 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. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PRIM. Guggenheim upped their target price on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. KeyCorp lowered their target price on Primoris Services from $179.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Wells Fargo & Company lowered their target price on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. DA Davidson set a $180.00 target price on Primoris Services in a report on Wednesday, February 25th. Finally, Mizuho raised Primoris Services from a “neutral” rating to an “outperform” rating and decreased their price target for the company from $175.00 to $135.00 in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

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.