CW Advisors LLC Has $5.12 Million Stock Holdings in Primoris Services Co. $PRIM

Key Points

• CW Advisors LLC increased its stake in Primoris Services Co. by 22.1% during Q1, now owning approximately 0.17% of the company, valued at $5.12 million.
• Primoris reported a quarterly earnings per share of $1.68, significantly exceeding the consensus estimate of $1.10, and its revenue rose by 20.9% year-over-year to $1.89 billion.
• The firm declared a quarterly dividend of $0.08 per share, which is set to be paid on October 15, with an annualized yield of 0.3% and a payout ratio of 7.26%.

CW Advisors LLC increased its holdings in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 22.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 89,175 shares of the construction company's stock after purchasing an additional 16,136 shares during the period. CW Advisors LLC owned approximately 0.17% of Primoris Services worth $5,120,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. DAVENPORT & Co LLC lifted its position in shares of Primoris Services by 1.4% during the 1st quarter. DAVENPORT & Co LLC now owns 13,068 shares of the construction company's stock worth $750,000 after purchasing an additional 175 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Primoris Services by 294.1% during the 1st quarter. Versant Capital Management Inc now owns 465 shares of the construction company's stock worth $27,000 after purchasing an additional 347 shares during the last quarter. Total Wealth Planning & Management Inc. lifted its position in shares of Primoris Services by 5.4% during the 1st quarter. Total Wealth Planning & Management Inc. now owns 9,334 shares of the construction company's stock worth $536,000 after purchasing an additional 475 shares during the last quarter. Canton Hathaway LLC raised its holdings in Primoris Services by 25.0% in the 1st quarter. Canton Hathaway LLC now owns 2,500 shares of the construction company's stock valued at $144,000 after acquiring an additional 500 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Primoris Services by 3,626.7% in the 1st quarter. Brooklyn Investment Group now owns 559 shares of the construction company's stock valued at $32,000 after acquiring an additional 544 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company's stock.

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 20,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $114.01, for a total transaction of $2,280,200.00. Following the transaction, the director owned 82,281 shares of the company's stock, valued at approximately $9,380,856.81. This represents a 19.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is currently owned by company insiders.

Primoris Services Price Performance

NASDAQ PRIM traded up $2.42 during trading hours on Thursday, reaching $119.78. 539,304 shares of the company's stock were exchanged, compared to its average volume of 919,820. The stock has a market cap of $6.47 billion, a PE ratio of 39.68 and a beta of 1.44. Primoris Services Co. has a one year low of $48.33 and a one year high of $120.22. The firm has a fifty day moving average of $94.56 and a 200-day moving average of $76.19. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

Primoris Services (NASDAQ:PRIM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The construction company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.58. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.69 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.Primoris Services's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.04 EPS. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. On average, equities research analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.08 per share. 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 dividend payout ratio is 7.26%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Primoris Services from $90.00 to $102.00 and gave the company an "overweight" rating in a report on Tuesday, July 22nd. KeyCorp upped their price target on Primoris Services from $98.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. UBS Group upped their price target on Primoris Services from $100.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. DA Davidson upped their price target on Primoris Services from $85.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Guggenheim upped their price target on Primoris Services from $110.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Primoris Services presently has an average rating of "Moderate Buy" and a consensus price target of $101.67.

Primoris Services 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.