Hillsdale Investment Management Inc. Cuts Stock Position in Primoris Services Corporation $PRIM

Key Points

• Hillsdale Investment Management cut its stake in Primoris Services by 18.3% in the fourth quarter, though it still held 64,370 shares valued at about $8.0 million.
• Several insiders also sold shares recently, including John M. Perisich and Director David Lee King, both of whom reduced their ownership by more than 50% through their transactions.
• Primoris Services reported weaker-than-expected quarterly results, with EPS of $0.59 versus the $0.87 estimate and revenue of $1.56 billion versus $1.73 billion expected; the company also issued FY2026 guidance of 4.80 to 5.00 EPS.

Hillsdale Investment Management Inc. lessened its stake in Primoris Services Corporation (NYSE:PRIM - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,370 shares of the company's stock after selling 14,410 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.12% of Primoris Services worth $7,991,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Primoris Services in the fourth quarter worth about $127,000. Intech Investment Management LLC lifted its stake in shares of Primoris Services by 12.2% in the fourth quarter. Intech Investment Management LLC now owns 27,188 shares of the company's stock worth $3,375,000 after buying an additional 2,965 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Primoris Services by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company's stock worth $164,526,000 after buying an additional 42,052 shares in the last quarter. Harbour Investments Inc. purchased a new position in shares of Primoris Services in the fourth quarter worth about $33,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Primoris Services by 151.0% in the fourth quarter. Clearstead Advisors LLC now owns 2,442 shares of the company's stock worth $303,000 after buying an additional 1,469 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.

Insider Transactions at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the company's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company's stock, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David Lee King sold 20,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director directly owned 14,941 shares in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company's stock.

Primoris Services Trading Down 0.5%

Shares of PRIM opened at $125.93 on Friday. The firm has a 50-day moving average price of $142.50 and a 200 day moving average price of $139.75. Primoris Services Corporation has a 12-month low of $70.68 and a 12-month high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $6.83 billion, a P/E ratio of 27.74 and a beta of 1.50.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 EPS 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 company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned $0.98 EPS. The company's quarterly revenue was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Sell-side analysts forecast that Primoris Services Corporation will post 4.55 EPS for the current year.

Primoris Services Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Primoris Services from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Wells Fargo & Company decreased their price target on shares of Primoris Services from $168.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Friday, May 8th. UBS Group decreased their price target on shares of Primoris Services from $212.00 to $186.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. DA Davidson set a $180.00 price target on shares of Primoris Services in a research note on Wednesday, February 25th. Finally, Wolfe Research assumed coverage on shares of Primoris Services in a research note on Thursday, April 9th. They issued an "outperform" rating and a $183.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Primoris Services currently has an average rating of "Moderate Buy" and a consensus price target of $156.20.

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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