David J Yvars Group Makes New $648,000 Investment in Primoris Services Co. $PRIM

David J Yvars Group purchased a new stake in Primoris Services Co. (NASDAQ:PRIM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,715 shares of the construction company’s stock, valued at approximately $648,000.

Several other large investors also recently made changes to their positions in PRIM. First Trust Advisors LP lifted its position in Primoris Services by 56.4% in the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock valued at $142,872,000 after acquiring an additional 660,915 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Primoris Services by 229.3% in the second quarter. American Century Companies Inc. now owns 601,482 shares of the construction company’s stock valued at $46,880,000 after purchasing an additional 418,805 shares in the last quarter. Hennessy Advisors Inc. acquired a new position in shares of Primoris Services during the third quarter worth about $50,071,000. Westfield Capital Management Co. LP grew its holdings in shares of Primoris Services by 80.4% during the second quarter. Westfield Capital Management Co. LP now owns 654,223 shares of the construction company’s stock worth $50,990,000 after buying an additional 291,494 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Primoris Services by 838.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 243,859 shares of the construction company’s stock valued at $19,006,000 after buying an additional 217,873 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 2.7%

NASDAQ PRIM opened at $137.84 on Wednesday. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $146.16. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $126.51 and a 200-day moving average of $119.30. The company has a market cap of $7.45 billion, a PE ratio of 45.64 and a beta of 1.36.

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

Primoris Services Dividend Announcement

The company 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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, December 31st. Primoris Services’s dividend payout ratio (DPR) is 6.31%.

Insiders Place Their Bets

In other news, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 74,466 shares of the company’s stock, valued at $10,127,376. This trade represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia K. Wagner sold 13,491 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $125.23, for a total value of $1,689,477.93. Following the transaction, the director directly owned 4,495 shares in the company, valued at $562,908.85. The trade was a 75.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 26,888 shares of company stock worth $3,488,679. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRIM. Glj Research began coverage on Primoris Services in a research report on Monday, September 22nd. They set a “buy” rating and a $160.00 price target for the company. Needham & Company LLC reissued a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. Jefferies Financial Group restated a “buy” rating and set a $161.00 target price on shares of Primoris Services in a report on Wednesday, November 5th. Roth Capital began coverage on shares of Primoris Services in a research report on Thursday, October 9th. They issued a “buy” rating and a $170.00 target price for the company. Finally, DA Davidson lifted their price target on shares of Primoris Services from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.71.

About Primoris Services

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.