Apollon Wealth Management LLC Trims Stake in Primoris Services Corporation $PRIM

Apollon Wealth Management LLC reduced its position in shares of Primoris Services Corporation (NYSE:PRIM) by 53.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,627 shares of the company’s stock after selling 5,375 shares during the quarter. Apollon Wealth Management LLC’s holdings in Primoris Services were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its holdings in Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after purchasing an additional 148 shares during the period. Cullen Frost Bankers Inc. purchased a new position in Primoris Services during the 3rd quarter worth $37,000. Blue Bell Private Wealth Management LLC purchased a new position in Primoris Services during the 3rd quarter worth $37,000. McIlrath & Eck LLC increased its holdings in Primoris Services by 109.8% during the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock worth $38,000 after purchasing an additional 145 shares during the period. Finally, Richardson Financial Services Inc. increased its holdings in Primoris Services by 163.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 321 shares of the company’s stock worth $44,000 after purchasing an additional 199 shares during the period. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services Price Performance

Primoris Services stock opened at $158.08 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $8.57 billion, a PE ratio of 31.43 and a beta of 1.38. Primoris Services Corporation has a 1-year low of $53.13 and a 1-year high of $174.43. The stock has a fifty day simple moving average of $150.82.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s payout ratio is currently 6.36%.

Analyst Ratings Changes

PRIM has been the topic of a number of analyst reports. UBS Group lifted their price target on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Guggenheim lifted their price target on Primoris Services from $170.00 to $184.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Mizuho lifted their price target on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lifted their price target on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.31.

About Primoris Services

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.