Primoris Services Co. $PRIM Shares Purchased by American Century Companies Inc.

American Century Companies Inc. lifted its position in Primoris Services Co. (NASDAQ:PRIM) by 69.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,019,856 shares of the construction company’s stock after purchasing an additional 418,374 shares during the quarter. American Century Companies Inc. owned approximately 1.89% of Primoris Services worth $140,057,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hodges Capital Management Inc. purchased a new stake in shares of Primoris Services during the second quarter worth approximately $3,320,000. GSA Capital Partners LLP purchased a new stake in shares of Primoris Services during the 3rd quarter worth $1,726,000. J.W. Cole Advisors Inc. purchased a new position in Primoris Services in the third quarter valued at about $1,193,000. Federated Hermes Inc. boosted its position in Primoris Services by 5.8% during the second quarter. Federated Hermes Inc. now owns 347,785 shares of the construction company’s stock worth $27,106,000 after purchasing an additional 18,951 shares in the last quarter. Finally, Leuthold Group LLC raised its position in Primoris Services by 1,350.3% during the third quarter. Leuthold Group LLC now owns 48,947 shares of the construction company’s stock worth $6,722,000 after acquiring an additional 45,572 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Buying and Selling

In other news, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction dated 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 transaction, the director directly owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares of the company’s stock, valued at $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Mizuho boosted their target price on shares of Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research note on Wednesday, November 5th. DA Davidson set a $180.00 price objective on shares of Primoris Services in a research note on Wednesday. KeyCorp boosted their price target on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group raised their price target on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.20.

Primoris Services Stock Down 1.1%

Shares of NASDAQ:PRIM opened at $150.29 on Monday. Primoris Services Co. has a 52 week low of $49.10 and a 52 week high of $174.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $8.12 billion, a PE ratio of 49.77 and a beta of 1.37. The firm has a 50 day simple moving average of $146.07 and a 200 day simple moving average of $133.79.

Primoris Services (NASDAQ:PRIM) last released its earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, research analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Primoris Services’s dividend payout ratio is presently 6.36%.

Primoris Services 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.