Van Berkom & Associates Inc. Sells 110,138 Shares of Primoris Services Corporation $PRIM

Van Berkom & Associates Inc. decreased its position in Primoris Services Corporation (NYSE:PRIM) by 19.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 462,583 shares of the company’s stock after selling 110,138 shares during the quarter. Primoris Services comprises 2.2% of Van Berkom & Associates Inc.’s investment portfolio, making the stock its 26th largest holding. Van Berkom & Associates Inc.’s holdings in Primoris Services were worth $66,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbour Investments Inc. bought a new position in shares of Primoris Services in the 4th quarter worth $33,000. Root Financial Partners LLC grew its position in shares of Primoris Services by 43.1% in the 1st 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. bought a new stake in shares of Primoris Services during the second quarter worth $34,000. Cullen Frost Bankers Inc. increased its holdings in Primoris Services by 30.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of 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 buying an additional 194 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PRIM shares. Guggenheim reaffirmed a “buy” rating and issued a $162.00 target price on shares of Primoris Services in a research report on Tuesday, June 23rd. Wells Fargo & Company dropped their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 23rd. Mizuho lowered their price target on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. KeyCorp reissued a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. Finally, Wall Street Zen cut Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.13.

Insider Buying and Selling at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the business’s stock in a transaction on 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 sale, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated 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 transaction, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Primoris Services Trading Up 0.2%

PRIM opened at $86.10 on Monday. Primoris Services Corporation has a 1-year low of $65.00 and a 1-year high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.67 billion, a P/E ratio of 18.96 and a beta of 1.41. The company’s 50 day moving average is $104.26 and its 200-day moving average is $133.28.

Primoris Services (NYSE:PRIM) last posted its earnings results 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 the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities 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 announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Primoris Services’s payout ratio is presently 7.05%.

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.