Farther Finance Advisors LLC Raises Position in Primoris Services Corporation $PRIM

Farther Finance Advisors LLC raised its stake in Primoris Services Corporation (NYSE:PRIM) by 188.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,737 shares of the company’s stock after purchasing an additional 3,096 shares during the quarter. Farther Finance Advisors LLC’s holdings in Primoris Services were worth $588,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PRIM. SBI Securities Co. Ltd. raised its stake in shares of Primoris Services by 224.2% in the third 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 last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Primoris Services in the second quarter worth approximately $34,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Primoris Services in the third quarter worth approximately $37,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Primoris Services in the third quarter worth approximately $37,000. Finally, McIlrath & Eck LLC raised its stake in shares of Primoris Services by 109.8% in the third quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock worth $38,000 after purchasing an additional 145 shares during the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Trading Down 0.5%

Shares of PRIM opened at $171.61 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $9.31 billion, a P/E ratio of 34.12 and a beta of 1.38. The firm’s 50 day simple moving average is $151.44. Primoris Services Corporation has a 12 month low of $58.13 and a 12 month high of $176.68.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.Primoris Services’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $1.13 earnings per share. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, equities research analysts predict that Primoris Services Corporation will post 5.73 earnings per share for the current year.

Primoris Services Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on PRIM shares. The Goldman Sachs Group increased their price objective on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Wolfe Research started coverage on Primoris Services in a research note on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price objective for the company. Cantor Fitzgerald set a $160.00 price objective on Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Finally, UBS Group increased their price target on Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

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.