Fieldview Capital Management LLC Cuts Stock Position in Primoris Services Co. $PRIM

Fieldview Capital Management LLC trimmed its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 45.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,362 shares of the construction company’s stock after selling 19,514 shares during the quarter. Fieldview Capital Management LLC’s holdings in Primoris Services were worth $3,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PRIM. NewEdge Advisors LLC grew its position in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after buying an additional 194 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock valued at $28,337,000 after acquiring an additional 33,934 shares during the last quarter. Caxton Associates LLP acquired a new stake in Primoris Services in the first quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Primoris Services by 25.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock valued at $9,650,000 after acquiring an additional 33,818 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Primoris Services by 2.5% in the second quarter. Envestnet Asset Management Inc. now owns 46,353 shares of the construction company’s stock worth $3,613,000 after purchasing an additional 1,123 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John P. Schauerman sold 7,815 shares of the firm’s 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 completion of the transaction, the director directly owned 74,466 shares in the company, valued at $10,127,376. This trade represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by insiders.

Primoris Services Trading Down 3.5%

NASDAQ:PRIM opened at $133.11 on Monday. The company has a market capitalization of $7.20 billion, a P/E ratio of 44.08 and a beta of 1.36. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $174.43. The firm has a fifty day simple moving average of $147.42 and a 200-day simple moving average of $134.89.

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, beating the consensus estimate of $0.95 by $0.13. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, equities research analysts anticipate that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio is currently 6.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRIM. UBS Group upped their price target on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group boosted their target price on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. upped their target price on Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company raised their price target on Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.20.

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.