Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys Shares of 13,377 Primoris Services Corporation $PRIM

Key Points

• Institutional buying: Commonwealth of Pennsylvania Public School Empls Retrmt SYS opened a new position in Primoris Services, buying 13,377 shares valued at about $1.66 million. Other hedge funds and institutions also increased or initiated positions, and institutional ownership now stands at 91.82%.
• Mixed financial results: Primoris Services reported quarterly EPS of $0.59, missing analyst expectations of $0.87, and revenue of $1.56 billion versus $1.73 billion expected. Revenue declined 5.4% year over year, though the company still guided FY 2026 EPS to 4.800-5.000.
• Insider sales and Wall Street view: Two insiders recently sold shares, including Director David Lee King and John M. Perisich, while analysts currently rate the stock a Moderate Buy with an average price target of $156.20. The shares opened at $122.21, below the consensus target but well above the company’s 52-week low.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,377 shares of the company's stock, valued at approximately $1,661,000.

A number of other large investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its stake in shares of Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock worth $29,000 after purchasing an additional 148 shares during the period. Harbour Investments Inc. purchased a new position in shares of Primoris Services during the 4th quarter worth $33,000. Salomon & Ludwin LLC purchased a new position in shares of Primoris Services during the 4th quarter worth $44,000. Cullen Frost Bankers Inc. lifted its stake in shares of 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 during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Primoris Services by 120.4% during the 4th quarter. GAMMA Investing LLC now owns 357 shares of the company's stock worth $44,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 91.82% of the company's stock.

Primoris Services Stock Performance

Shares of PRIM stock opened at $122.21 on Friday. The business has a 50 day moving average of $140.49 and a two-hundred day moving average of $139.81. The company has a market cap of $6.63 billion, a P/E ratio of 26.92 and a beta of 1.36. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 52 week low of $70.68 and a 52 week high of $205.50.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly 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). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.98 EPS. The business's quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services's payout ratio is presently 7.05%.

Insider Activity at Primoris Services

In other Primoris Services news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider owned 27,574 shares in the company, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PRIM shares. Zacks Research lowered Primoris Services from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Wolfe Research began coverage on Primoris Services in a research report on Thursday, April 9th. They issued an "outperform" rating and a $183.00 target price on the stock. Wells Fargo & Company cut their price objective on Primoris Services from $168.00 to $118.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. Mizuho upgraded Primoris Services from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $175.00 to $135.00 in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their target price on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $156.20.

About Primoris Services

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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