Primoris Services Corporation $PRIM Stock Position Boosted by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Primoris Services by 3.3% in the fourth quarter, ending with 1.33 million shares valued at about $164.5 million. Institutional ownership remains very high at 91.82% of the company.
• Several insiders have recently sold shares, including John M. Perisich and Director David Lee King, who both cut their holdings sharply. Corporate insiders now own just 1.10% of the stock.
• Analysts remain mixed but broadly constructive: Primoris has a Moderate Buy consensus rating with an average price target of $156.20. The company also reported weaker-than-expected Q1 results, but it reaffirmed FY 2026 EPS guidance of 4.80–5.00 and declared a quarterly dividend of $0.08 per share.

Geode Capital Management LLC boosted its stake in Primoris Services Corporation (NYSE:PRIM - Free Report) by 3.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,325,103 shares of the company's stock after buying an additional 42,052 shares during the period. Geode Capital Management LLC owned 2.45% of Primoris Services worth $164,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Harbour Investments Inc. bought a new position in Primoris Services in the 4th quarter valued at about $33,000. Clearstead Advisors LLC grew its position in Primoris Services by 151.0% in the 4th quarter. Clearstead Advisors LLC now owns 2,442 shares of the company's stock valued at $303,000 after buying an additional 1,469 shares in the last quarter. Legal & General Group Plc lifted its holdings in Primoris Services by 118.2% in the 4th quarter. Legal & General Group Plc now owns 146,972 shares of the company's stock valued at $18,272,000 after acquiring an additional 79,621 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Primoris Services by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,139 shares of the company's stock valued at $265,000 after acquiring an additional 177 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in Primoris Services in the 4th quarter valued at about $422,000. Institutional investors own 91.82% of the company's stock.

Insider Buying and Selling

In other news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Lee King sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares of the company's stock, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PRIM has been the subject of a number of research analyst reports. Guggenheim upped their price target on shares of Primoris Services from $184.00 to $195.00 and gave the company a "buy" rating in a report on Monday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Zacks Research downgraded shares of Primoris Services from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. UBS Group cut their price target on shares of Primoris Services from $212.00 to $186.00 and set a "buy" rating for the company in a report on Monday, May 11th. Finally, Wolfe Research initiated coverage on shares of Primoris Services in a report on Thursday, April 9th. They issued an "outperform" rating and a $183.00 price target for the company. One investment 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 company. According to MarketBeat, Primoris Services currently has an average rating of "Moderate Buy" and an average price target of $156.20.

Primoris Services Price Performance

PRIM stock opened at $126.33 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a one year low of $70.68 and a one year high of $205.50. The firm has a market capitalization of $6.85 billion, a PE ratio of 27.82 and a beta of 1.36. The firm has a 50-day moving average of $141.43 and a two-hundred day moving average of $139.87.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the company posted $0.98 earnings per share. Primoris Services'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. On average, analysts forecast that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Announces Dividend

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

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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