Tieton Capital Management LLC Sells 66,791 Shares of Primoris Services Corporation $PRIM

Key Points

• Tieton Capital Management cut its stake in Primoris Services by 93.8% in the fourth quarter, selling 66,791 shares and leaving it with 4,400 shares valued at about $546,000.
• Primoris Services reported Q1 earnings and revenue below expectations, posting $0.59 EPS versus $0.87 expected and $1.56 billion in revenue versus $1.73 billion expected. The company also said revenue fell 5.4% year over year.
• The company declared a quarterly dividend of $0.08 per share, payable July 15, while analysts currently rate the stock a Moderate Buy with an average price target of $156.20.

Tieton Capital Management LLC decreased its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 93.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the company's stock after selling 66,791 shares during the period. Tieton Capital Management LLC's holdings in Primoris Services were worth $546,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its stake in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock worth $29,000 after purchasing an additional 148 shares during the last quarter. Harbour Investments Inc. bought a new position in Primoris Services during the fourth quarter valued at $33,000. Osterweis Capital Management Inc. bought a new position in Primoris Services during the second quarter valued at $34,000. Cullen Frost Bankers Inc. grew its holdings in Primoris Services by 30.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company's stock valued at $43,000 after purchasing an additional 81 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock valued at $43,000 after purchasing an additional 194 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Primoris Services stock opened at $121.22 on Tuesday. The stock's 50 day simple moving average is $142.06 and its two-hundred day simple moving average is $139.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 26.70 and a beta of 1.37. Primoris Services Corporation has a fifty-two week low of $70.68 and a fifty-two week high of $205.50.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business's revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts expect that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

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

Insider Activity at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of the business's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares of the company's stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Lee King sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

PRIM has been the subject of several research reports. Cantor Fitzgerald increased their price objective on Primoris Services from $113.00 to $124.00 and gave the company a "neutral" rating in a report on Tuesday, May 19th. Weiss Ratings lowered Primoris Services from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. Wall Street Zen downgraded Primoris Services from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Wells Fargo & Company decreased their price objective on Primoris Services from $168.00 to $118.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Primoris Services currently has a consensus rating of "Moderate Buy" and an average target price of $156.20.

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.

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