Congress Asset Management Co. Acquires 19,034 Shares of Primoris Services Corporation $PRIM

Key Points

• Congress Asset Management boosted its stake in Primoris Services by 2.4% in Q4, buying 19,034 shares to hold 815,270 shares (about 1.51% of the company) valued at approximately $101.21 million.
• Primoris beat Q4 expectations with $1.08 EPS vs. $0.95 expected and $1.86B revenue (up 6.7% YoY), and set FY2026 guidance of EPS 5.800–6.000.
• The stock has high institutional ownership (91.82%), a $7.71B market cap and a PE of 28.36, a 52-week range of $49.10–$174.43, a $0.08 quarterly dividend (0.2% yield), and a consensus rating of Moderate Buy with an average target of $153.20.

Congress Asset Management Co. boosted its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 815,270 shares of the company's stock after buying an additional 19,034 shares during the period. Congress Asset Management Co. owned approximately 1.51% of Primoris Services worth $101,208,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PRIM. GSA Capital Partners LLP bought a new position in shares of Primoris Services during the 3rd quarter worth approximately $1,726,000. J.W. Cole Advisors Inc. bought a new position in shares of Primoris Services in the third quarter valued at approximately $1,193,000. Federated Hermes Inc. increased its position in shares of Primoris Services by 5.8% during the second quarter. Federated Hermes Inc. now owns 347,785 shares of the company's stock valued at $27,106,000 after acquiring an additional 18,951 shares during the last quarter. Leuthold Group LLC increased its position in shares of Primoris Services by 1,350.3% during the third quarter. Leuthold Group LLC now owns 48,947 shares of the company's stock valued at $6,722,000 after acquiring an additional 45,572 shares during the last quarter. Finally, Boston Partners lifted its holdings in Primoris Services by 14.1% during the second quarter. Boston Partners now owns 564,898 shares of the company's stock worth $47,823,000 after acquiring an additional 69,996 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Price Performance

NYSE PRIM opened at $142.67 on Tuesday. The business has a 50 day moving average price of $149.56. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 1 year low of $49.10 and a 1 year high of $174.43. The stock has a market cap of $7.71 billion, a PE ratio of 28.36 and a beta of 1.36.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The firm had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The business's quarterly revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings restated a "buy (b)" rating on shares of Primoris Services in a research note on Tuesday, January 20th. Mizuho boosted their price target on shares of Primoris Services from $128.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. Zacks Research lowered shares of Primoris Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 31st. UBS Group lifted their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Finally, Cantor Fitzgerald set a $160.00 target price on shares of Primoris Services and gave the company a "neutral" rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Primoris Services has a consensus rating of "Moderate Buy" and an average price target of $153.20.

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.

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.