Hennessy Advisors Inc. Has $42.88 Million Position in Primoris Services Corporation $PRIM

Key Points

• Hennessy Advisors trimmed its stake in Primoris by 5.3%, selling 19,200 shares to hold 345,400 shares valued at about $42.88 million, making PRIM its 16th-largest position and 1.5% of Hennessy's portfolio.
• Institutional ownership is high (about 91.8%), PRIM recently beat Q4 EPS ($1.08 vs. $0.95) and set FY2026 guidance of 5.80–6.00 EPS, while analysts maintain a consensus “Moderate Buy” with an average price target of $156.31 versus the stock trading around $166 near its 52‑week high.

Hennessy Advisors Inc. cut its holdings in Primoris Services Corporation (NYSE:PRIM - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,400 shares of the company's stock after selling 19,200 shares during the period. Primoris Services makes up 1.5% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 16th biggest holding. Hennessy Advisors Inc. owned 0.64% of Primoris Services worth $42,878,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PRIM. NewEdge Advisors LLC boosted its position in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock worth $43,000 after purchasing an additional 194 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company's stock valued at $28,337,000 after acquiring an additional 33,934 shares during the period. Caxton Associates LLP acquired a new stake in shares of Primoris Services in the 1st quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company's stock valued at $9,650,000 after acquiring an additional 33,818 shares during the period. Finally, M&T Bank Corp acquired a new stake in shares of Primoris Services in the 2nd quarter valued at approximately $274,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRIM has been the subject of a number of recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of Primoris Services in a research report on Tuesday, January 20th. 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. Wolfe Research began coverage on shares of Primoris Services in a research report on Thursday, April 9th. They set an "outperform" rating and a $183.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Primoris Services from $138.00 to $168.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Finally, DA Davidson set a $180.00 price target on shares of Primoris Services in a research note 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.31.

Primoris Services Stock Performance

Shares of PRIM opened at $166.29 on Monday. Primoris Services Corporation has a 52 week low of $53.13 and a 52 week high of $174.43. The company has a market cap of $9.02 billion, a PE ratio of 33.06 and a beta of 1.38. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $150.93.

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

Primoris Services Announces Dividend

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

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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