Comerica Bank Sells 89,849 Shares of Primoris Services Corporation $PRIM

Key Points

• Comerica Bank cut its Primoris stake by 75.4% in Q4, selling 89,849 shares and leaving 29,237 shares (about 0.05% of the company, valued at $3.63M).
• Primoris topped Q4 expectations with EPS of $1.08 (vs. $0.95 est.) and $1.86B in revenue, and set FY2026 guidance of 5.80–6.00 EPS (analysts expect ~5.73 EPS).
• Analysts have a consensus rating of Moderate Buy with an average price target of $157, while the stock trades near $180 (52‑week high $184).

Comerica Bank reduced its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 75.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,237 shares of the company's stock after selling 89,849 shares during the period. Comerica Bank owned about 0.05% of Primoris Services worth $3,629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC lifted its stake in shares of Primoris Services by 7.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 6,132 shares of the company's stock worth $762,000 after acquiring an additional 419 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Primoris Services during the 4th quarter worth approximately $370,000. Pictet Asset Management Holding SA lifted its stake in shares of Primoris Services by 5.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 8,430 shares of the company's stock worth $1,046,000 after acquiring an additional 428 shares during the last quarter. UBS Group AG lifted its stake in shares of Primoris Services by 2.4% during the 4th quarter. UBS Group AG now owns 638,876 shares of the company's stock worth $79,310,000 after acquiring an additional 15,112 shares during the last quarter. Finally, Abacus FCF Advisors LLC bought a new stake in shares of Primoris Services during the 4th quarter worth approximately $6,389,000. 91.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PRIM has been the subject of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Primoris Services in a research note on Tuesday, January 20th. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their target price on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. Wolfe Research started coverage on Primoris Services in a research report on Thursday, April 9th. They set an "outperform" rating and a $183.00 target price for the company. Finally, Mizuho lifted their target price on Primoris Services from $128.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Primoris Services presently has a consensus rating of "Moderate Buy" and an average price target of $157.00.

Primoris Services Stock Down 0.2%

Shares of NYSE PRIM opened at $180.01 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The firm's fifty day moving average price is $152.12. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 35.79 and a beta of 1.50. Primoris Services Corporation has a twelve month low of $63.36 and a twelve month high of $184.00.

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

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.08 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services's dividend payout ratio (DPR) is currently 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.

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