Capital Fund Management S.A. Invests $1.28 Million in Primoris Services Co. $PRIM

Capital Fund Management S.A. purchased a new position in Primoris Services Co. (NASDAQ:PRIM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,467 shares of the construction company’s stock, valued at approximately $1,283,000.

Several other large investors have also bought and sold shares of PRIM. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Primoris Services during the 2nd quarter worth approximately $235,000. Vinva Investment Management Ltd bought a new stake in shares of Primoris Services during the second quarter valued at approximately $330,000. Boston Partners grew its stake in Primoris Services by 14.1% in the second quarter. Boston Partners now owns 564,898 shares of the construction company’s stock worth $47,823,000 after purchasing an additional 69,996 shares during the period. CreativeOne Wealth LLC raised its holdings in Primoris Services by 3.2% in the second quarter. CreativeOne Wealth LLC now owns 9,755 shares of the construction company’s stock worth $760,000 after purchasing an additional 301 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its holdings in Primoris Services by 2.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock worth $431,000 after purchasing an additional 121 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Mizuho set a $129.00 price objective on shares of Primoris Services in a research note on Tuesday, October 28th. Zacks Research cut shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. JPMorgan Chase & Co. lifted their target price on shares of Primoris Services from $141.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Guggenheim reissued a “neutral” rating on shares of Primoris Services in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services has an average rating of “Moderate Buy” and a consensus price target of $140.71.

Insiders Place Their Bets

In other Primoris Services news, Director Michael E. Ching sold 2,935 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $119.89, for a total value of $351,877.15. Following the completion of the transaction, the director owned 9,534 shares of the company’s stock, valued at approximately $1,143,031.26. The trade was a 23.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia K. Wagner sold 13,491 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 4,495 shares in the company, valued at approximately $562,908.85. The trade was a 75.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,932 shares of company stock valued at $2,869,099. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Stock Up 0.3%

Shares of Primoris Services stock opened at $125.94 on Friday. The company has a 50-day simple moving average of $131.59 and a two-hundred day simple moving average of $108.02. The stock has a market capitalization of $6.80 billion, a PE ratio of 41.70 and a beta of 1.37. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $146.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s quarterly 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. On average, analysts anticipate that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. 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 Wednesday, December 31st. Primoris Services’s dividend payout ratio is presently 6.31%.

About Primoris Services

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.