Artemis Investment Management LLP Raises Stake in Primoris Services Corporation $PRIM

Key Points

• Artemis Investment Management increased its stake in Primoris by 4.2% to 799,683 shares (about $99.27M), making PRIM its 23rd-largest holding while institutional investors now own roughly 91.82% of the company.
• Analysts are broadly constructive — MarketBeat's consensus is a Moderate Buy with a $157 average target, and several firms raised targets (notably Guggenheim to $195) despite some neutral ratings.
• Primoris beat Q4 expectations (EPS $1.08 vs. $0.95; revenue $1.86B vs. $1.82B), set FY2026 guidance of $5.80–$6.00 EPS, and currently trades near its 52‑week high (~$180) with a P/E of ~35.8.

Artemis Investment Management LLP boosted its position in Primoris Services Corporation (NYSE:PRIM - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 799,683 shares of the company's stock after buying an additional 32,023 shares during the period. Primoris Services makes up approximately 1.2% of Artemis Investment Management LLP's investment portfolio, making the stock its 23rd largest holding. Artemis Investment Management LLP owned 1.48% of Primoris Services worth $99,273,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in Primoris Services by 9.7% in the third quarter. Assetmark Inc. now owns 953 shares of the company's stock valued at $131,000 after purchasing an additional 84 shares during the last quarter. CWM LLC boosted its position in Primoris Services by 1.1% in the 4th quarter. CWM LLC now owns 8,970 shares of the company's stock worth $1,114,000 after purchasing an additional 96 shares in the last quarter. NewEdge Advisors LLC boosted its position in Primoris Services by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 2,071 shares of the company's stock worth $284,000 after purchasing an additional 108 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in Primoris Services by 0.4% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the company's stock worth $4,437,000 after purchasing an additional 124 shares in the last quarter. Finally, Ethic Inc. boosted its position in Primoris Services by 4.3% in the 3rd quarter. Ethic Inc. now owns 3,163 shares of the company's stock worth $434,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PRIM. Mizuho increased their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. increased their target price on shares of Primoris Services from $165.00 to $171.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Guggenheim increased their target price on shares of Primoris Services from $184.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Cantor Fitzgerald set a $160.00 target price on shares of Primoris Services and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen lowered shares of Primoris Services from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.00.

Primoris Services Stock Performance

Primoris Services stock opened at $180.01 on Friday. Primoris Services Corporation has a fifty-two week low of $63.36 and a fifty-two week high of $184.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50 day moving average of $152.12. The firm has a market cap of $9.76 billion, a P/E ratio of 35.79 and a beta of 1.50.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, equities research analysts forecast that Primoris Services Corporation will post 5.73 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services's payout ratio is 6.36%.

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.

Want to see what other hedge funds are holding PRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primoris Services Corporation (NYSE:PRIM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.