Phocas Financial Corp. Has $7.76 Million Stock Holdings in Primoris Services Corporation $PRIM

Phocas Financial Corp. trimmed its holdings in Primoris Services Corporation (NYSE:PRIM) by 55.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,478 shares of the company’s stock after selling 77,087 shares during the quarter. Phocas Financial Corp. owned about 0.12% of Primoris Services worth $7,756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Uncommon Cents Investing LLC raised its stake in shares of Primoris Services by 2.1% in the third quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the company’s stock worth $536,000 after acquiring an additional 80 shares during the last quarter. Assetmark Inc. lifted its position in shares of Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock worth $131,000 after purchasing an additional 84 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Primoris Services by 5.5% during the third quarter. NewEdge Advisors LLC now owns 2,071 shares of the company’s stock valued at $284,000 after purchasing an additional 108 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in shares of Primoris Services by 0.4% during the third quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the company’s stock valued at $4,437,000 after purchasing an additional 124 shares during the last quarter. Finally, Ethic Inc. increased its holdings in shares of Primoris Services by 4.3% in the third quarter. Ethic Inc. now owns 3,163 shares of the company’s stock valued at $434,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Wall Street Analysts Forecast Growth

PRIM has been the topic of several research reports. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. The Goldman Sachs Group lifted their target price on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Mizuho boosted their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. UBS Group upped their price target on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. Finally, DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $154.53.

Primoris Services Stock Performance

Shares of PRIM stock opened at $148.23 on Monday. The firm has a 50 day simple moving average of $149.31. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 52-week low of $49.10 and a 52-week high of $174.43. The company has a market capitalization of $8.04 billion, a PE ratio of 29.47 and a beta of 1.38.

Primoris Services (NYSE:PRIM) last issued its earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The business’s revenue for the quarter 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.

Primoris Services Dividend Announcement

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

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.