3,820 Shares in Primoris Services Co. $PRIM Acquired by Uncommon Cents Investing LLC

Key Points

• Uncommon Cents Investing LLC acquired 3,820 shares of Primoris Services Co., valued at approximately $298,000, as reported in their latest Form 13F filing.
• Primoris Services has received positive ratings from multiple analysts, with Guggenheim raising their price target from $110.00 to $130.00, indicating strong investor confidence.
• The company's recent quarterly earnings showed earnings per share of $1.68, exceeding estimates, along with a reported revenue increase of 20.9% year-over-year.

Uncommon Cents Investing LLC acquired a new stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,820 shares of the construction company's stock, valued at approximately $298,000.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc grew its position in shares of Primoris Services by 294.1% in the first quarter. Versant Capital Management Inc now owns 465 shares of the construction company's stock valued at $27,000 after purchasing an additional 347 shares in the last quarter. Brooklyn Investment Group raised its position in Primoris Services by 3,626.7% during the 1st quarter. Brooklyn Investment Group now owns 559 shares of the construction company's stock valued at $32,000 after purchasing an additional 544 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Primoris Services by 85.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company's stock worth $38,000 after acquiring an additional 223 shares during the period. Parallel Advisors LLC grew its stake in shares of Primoris Services by 6,687.5% in the 2nd quarter. Parallel Advisors LLC now owns 543 shares of the construction company's stock worth $42,000 after buying an additional 535 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company's stock valued at $43,000 after acquiring an additional 194 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Guggenheim increased their price target on Primoris Services from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th. Janney Montgomery Scott started coverage on Primoris Services in a research report on Thursday, July 3rd. They issued a "buy" rating and a $102.00 price objective for the company. Mizuho started coverage on Primoris Services in a research note on Thursday, September 4th. They issued a "neutral" rating and a $112.00 target price for the company. KeyCorp raised their target price on Primoris Services from $119.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Zacks Research cut Primoris Services from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $108.82.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 20,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $114.01, for a total value of $2,280,200.00. Following the completion of the transaction, the director directly owned 82,281 shares of the company's stock, valued at approximately $9,380,856.81. This trade represents a 19.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeremy Kinch sold 3,006 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $124.00, for a total transaction of $372,744.00. Following the completion of the transaction, the chief operating officer directly owned 9,580 shares of the company's stock, valued at approximately $1,187,920. This trade represents a 23.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,941 shares of company stock valued at $3,004,821. Corporate insiders own 1.40% of the company's stock.

Primoris Services Stock Performance

Shares of PRIM stock opened at $133.70 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $135.73. The company has a market cap of $7.22 billion, a P/E ratio of 44.27 and a beta of 1.42. The firm has a fifty day moving average price of $112.29 and a 200 day moving average price of $84.43.

Primoris Services (NASDAQ:PRIM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The construction company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.58. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. Primoris Services's revenue for the quarter was up 20.9% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. Sell-side analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services's dividend payout ratio (DPR) is presently 7.26%.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.

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