Keeley Teton Advisors LLC Sells 2,842 Shares of Primoris Services Co. $PRIM

Key Points

• Keeley Teton Advisors LLC reduced its shareholding in Primoris Services by 2.8%, bringing its total to 99,094 shares, which constitutes approximately 0.7% of its portfolio.
• Several institutional investors, including Nuveen LLC and Fuller & Thaler Asset Management, have significantly increased their stakes in Primoris Services during the first quarter.
• Primoris Services reported an earnings per share of $1.68 for the last quarter, surpassing expectations of $1.10, and projected a FY 2025 EPS guidance of 4.900-5.100.

Keeley Teton Advisors LLC trimmed its stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 2.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 99,094 shares of the construction company's stock after selling 2,842 shares during the period. Primoris Services comprises 0.7% of Keeley Teton Advisors LLC's investment portfolio, making the stock its 28th biggest holding. Keeley Teton Advisors LLC owned approximately 0.18% of Primoris Services worth $5,689,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MetLife Investment Management LLC raised its position in Primoris Services by 4.6% in the 4th quarter. MetLife Investment Management LLC now owns 32,273 shares of the construction company's stock valued at $2,466,000 after purchasing an additional 1,414 shares during the last quarter. Stifel Financial Corp grew its position in Primoris Services by 201.9% during the fourth quarter. Stifel Financial Corp now owns 19,844 shares of the construction company's stock worth $1,516,000 after buying an additional 13,270 shares during the period. Hsbc Holdings PLC increased its position in shares of Primoris Services by 74.3% in the fourth quarter. Hsbc Holdings PLC now owns 45,822 shares of the construction company's stock valued at $3,514,000 after buying an additional 19,530 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Primoris Services by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 79,985 shares of the construction company's stock worth $6,112,000 after acquiring an additional 4,932 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Primoris Services in the fourth quarter worth $6,707,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

Primoris Services Price Performance

PRIM stock traded up $2.42 during trading on Thursday, hitting $119.78. The company had a trading volume of 978,207 shares, compared to its average volume of 922,825. The business has a 50 day moving average of $95.46 and a 200 day moving average of $76.46. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 39.66 and a beta of 1.44. Primoris Services Co. has a fifty-two week low of $48.33 and a fifty-two week high of $120.22.

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

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services's payout ratio is presently 7.26%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PRIM. KeyCorp lifted their price objective on Primoris Services from $98.00 to $119.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Primoris Services from $90.00 to $102.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 22nd. UBS Group increased 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. Piper Sandler boosted their price objective on Primoris Services from $75.00 to $76.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Finally, Guggenheim boosted their price target on Primoris Services from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, August 19th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $101.67.

Insider Activity at Primoris Services

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

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.