Aptus Capital Advisors LLC Has $6.31 Million Stock Position in Primoris Services Co. $PRIM

Key Points

• Aptus Capital Advisors LLC increased its stake in Primoris Services Co. by 12.2% in Q1, owning approximately 0.20% of the company valued at $6.31 million.
• Primoris Services recently reported earnings of $1.68 EPS, exceeding analyst estimates significantly, with a quarterly revenue up 20.9% from the previous year.
• The company declared a quarterly dividend of $0.08 per share, representing an annual yield of 0.3%.

Aptus Capital Advisors LLC raised its stake in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,986 shares of the construction company's stock after buying an additional 11,970 shares during the period. Aptus Capital Advisors LLC owned approximately 0.20% of Primoris Services worth $6,314,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRIM. Versant Capital Management Inc increased its stake in Primoris Services by 294.1% during the 1st quarter. Versant Capital Management Inc now owns 465 shares of the construction company's stock valued at $27,000 after buying an additional 347 shares during the period. Brooklyn Investment Group increased its stake 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 buying an additional 544 shares during the period. Sound Income Strategies LLC acquired a new position in Primoris Services during the 1st quarter valued at about $45,000. Headlands Technologies LLC acquired a new position in Primoris Services during the 1st quarter valued at about $68,000. Finally, Farther Finance Advisors LLC increased its stake in Primoris Services by 166.1% during the 1st quarter. Farther Finance Advisors LLC now owns 2,041 shares of the construction company's stock valued at $118,000 after buying an additional 1,274 shares during the period. Institutional investors and hedge funds own 91.82% of the company's stock.

Primoris Services Stock Up 1.0%

Primoris Services stock traded up $1.1690 during trading hours on Monday, hitting $115.5890. The company had a trading volume of 136,925 shares, compared to its average volume of 921,070. The firm has a market capitalization of $6.24 billion, a P/E ratio of 38.23 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The firm's fifty day moving average is $92.07 and its 200-day moving average is $75.36. Primoris Services Co. has a fifty-two week low of $48.33 and a fifty-two week high of $116.58.

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 for the quarter, beating the consensus estimate of $1.10 by $0.58. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.69 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. On average, research analysts forecast that Primoris Services Co. will post 3.26 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, October 15th. Shareholders of record on Tuesday, September 30th will be paid 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 0.3%. Primoris Services's payout ratio is 7.26%.

Insider Transactions at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction that occurred on 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 sale, the director directly owned 82,281 shares in the company, valued at $9,380,856.81. The trade was a 19.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PRIM. Guggenheim lifted their price objective on shares of 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 initiated coverage on shares of Primoris Services in a research note on Thursday, July 3rd. They issued a "buy" rating and a $102.00 price objective on the stock. KeyCorp raised their target price on shares of Primoris Services from $98.00 to $119.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Piper Sandler raised their target price on shares of Primoris Services from $75.00 to $76.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, UBS Group raised their target price on shares of Primoris Services from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $101.67.

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.