Campbell & CO Investment Adviser LLC Has $392,000 Stock Holdings in Primoris Services Co. $PRIM

Campbell & CO Investment Adviser LLC trimmed its position in Primoris Services Co. (NASDAQ:PRIM) by 47.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,026 shares of the construction company’s stock after selling 4,561 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Primoris Services were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jump Financial LLC lifted its stake in shares of Primoris Services by 550.4% in the first quarter. Jump Financial LLC now owns 109,486 shares of the construction company’s stock valued at $6,286,000 after buying an additional 92,652 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Primoris Services by 358.6% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 69,481 shares of the construction company’s stock worth $3,989,000 after buying an additional 54,331 shares in the last quarter. US Bancorp DE boosted its position in Primoris Services by 156.5% in the 1st quarter. US Bancorp DE now owns 4,820 shares of the construction company’s stock valued at $277,000 after buying an additional 2,941 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Primoris Services by 103.3% in the 1st quarter. XTX Topco Ltd now owns 14,988 shares of the construction company’s stock valued at $860,000 after buying an additional 7,616 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Primoris Services during the first quarter worth $880,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho set a $129.00 price objective on Primoris Services in a research report on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price target on shares of Primoris Services from $141.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. DA Davidson increased their price objective on shares of Primoris Services from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Guggenheim reaffirmed a “neutral” rating on shares of Primoris Services in a research note on Wednesday, October 15th. Finally, KeyCorp upped their target price on shares of Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.54.

Primoris Services Trading Up 1.6%

Shares of NASDAQ PRIM opened at $118.27 on Monday. Primoris Services Co. has a twelve month low of $49.10 and a twelve month high of $146.16. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 39.16 and a beta of 1.45. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average is $131.99 and its 200-day moving average is $103.36.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.37 by $0.51. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the business posted $1.22 EPS. The firm’s revenue was up 32.1% compared to the same quarter last year. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. Equities research analysts predict that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Primoris Services’s dividend payout ratio is presently 6.31%.

Insider Activity at Primoris Services

In other news, Director Patricia K. Wagner sold 13,491 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $125.23, for a total transaction of $1,689,477.93. Following the completion of the sale, the director owned 4,495 shares of the company’s stock, valued at $562,908.85. This represents a 75.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Ching sold 2,935 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $119.89, for a total transaction of $351,877.15. Following the completion of the sale, the director directly owned 9,534 shares in the company, valued at $1,143,031.26. This represents a 23.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 22,932 shares of company stock valued at $2,869,099. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Company 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.