Phocas Financial Corp. Sells 77,087 Shares of Primoris Services Corporation $PRIM

Key Points

• Phocas Financial Corp. sold 77,087 shares of Primoris in Q4, trimming its position by 55.2% and leaving it with 62,478 shares (about 0.12% of the company) worth $7.756 million.
• Analyst sentiment is mixed but constructive: the stock has a consensus rating of "Moderate Buy" with an average price target of $156.31, while broker views range from Wolfe Research's "outperform" ($183 target) to Goldman Sachs' "sell" (raised target to $133).
• Primoris recently beat estimates with Q4 EPS of $1.08 (vs. $0.95 expected) and $1.86B revenue, set FY2026 guidance of 5.800–6.000 EPS, and announced a quarterly dividend of $0.08 (0.2% yield).

Phocas Financial Corp. trimmed its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 55.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,478 shares of the company's stock after selling 77,087 shares during the period. Phocas Financial Corp. owned about 0.12% of Primoris Services worth $7,756,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock valued at $29,000 after acquiring an additional 148 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Primoris Services in the 3rd quarter valued at about $37,000. Blue Bell Private Wealth Management LLC bought a new stake in Primoris Services in the 3rd quarter valued at about $37,000. McIlrath & Eck LLC raised its stake in Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company's stock valued at $38,000 after acquiring an additional 145 shares during the period. Finally, Richardson Financial Services Inc. raised its stake in Primoris Services by 163.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 321 shares of the company's stock valued at $44,000 after acquiring an additional 199 shares during the period. 91.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRIM. Wolfe Research began coverage on Primoris Services in a research note on Thursday, April 9th. They issued an "outperform" rating and a $183.00 price objective on the stock. Zacks Research cut Primoris Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 31st. The Goldman Sachs Group boosted their price objective on Primoris Services from $117.00 to $133.00 and gave the company a "sell" rating in a research note on Wednesday, January 28th. Wall Street Zen cut Primoris Services from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Guggenheim upped their price target on Primoris Services from $170.00 to $184.00 and gave the company a "buy" rating in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $156.31.

Primoris Services Trading Up 1.4%

Shares of NYSE PRIM opened at $166.27 on Wednesday. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 33.06 and a beta of 1.38. The stock's 50-day simple moving average is $150.27. 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 12 month low of $53.13 and a 12 month high of $174.43.

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

Primoris Services Dividend Announcement

The company 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. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 annualized dividend and a yield of 0.2%. Primoris Services's dividend payout ratio is currently 6.36%.

Primoris Services 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.

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.