Decker Retirement Planning Inc. Takes Position in Primoris Services Co. $PRIM

Decker Retirement Planning Inc. purchased a new position in Primoris Services Co. (NASDAQ:PRIM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 28,136 shares of the construction company’s stock, valued at approximately $3,864,000. Primoris Services makes up about 2.1% of Decker Retirement Planning Inc.’s holdings, making the stock its 11th largest position. Decker Retirement Planning Inc. owned approximately 0.05% of Primoris Services as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the 2nd quarter valued at about $34,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Primoris Services in the third quarter valued at approximately $37,000. Public Employees Retirement System of Ohio increased its holdings in shares of Primoris Services by 85.4% in the second quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. McIlrath & Eck LLC lifted its position in Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock worth $38,000 after buying an additional 145 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Primoris Services by 6,687.5% during the second quarter. Parallel Advisors LLC now owns 543 shares of the construction company’s stock worth $42,000 after buying an additional 535 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Insider Transactions at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total value of $1,062,840.00. Following the sale, the director owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the transaction, the director owned 21,530 shares of the company’s stock, valued at $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 26,888 shares of company stock valued at $3,488,679. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. KeyCorp raised their target price on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. UBS Group upped their price objective on shares of Primoris Services from $135.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. DA Davidson lifted their target price on shares of Primoris Services from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group reissued a “buy” rating and issued a $161.00 price target on shares of Primoris Services in a research note on Wednesday, November 5th. Finally, Roth Capital assumed coverage on shares of Primoris Services in a report on Thursday, October 9th. They set a “buy” rating and a $170.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.57.

Primoris Services Trading Up 3.3%

Shares of PRIM stock opened at $134.27 on Tuesday. Primoris Services Co. has a 1-year low of $49.10 and a 1-year high of $146.16. The firm has a market cap of $7.25 billion, a PE ratio of 44.46 and a beta of 1.36. The company has a 50-day moving average of $126.31 and a two-hundred day moving average of $118.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.51. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.83 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business’s revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, analysts predict that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Wednesday, December 31st. Primoris Services’s dividend payout ratio (DPR) is currently 6.31%.

Primoris Services Company Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.