Victory Capital Management Inc. Has $23.54 Million Stock Position in Primoris Services Co. $PRIM

Victory Capital Management Inc. lessened its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 56.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,424 shares of the construction company’s stock after selling 220,524 shares during the period. Victory Capital Management Inc. owned about 0.32% of Primoris Services worth $23,542,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Hodges Capital Management Inc. acquired a new stake in shares of Primoris Services in the 2nd quarter valued at approximately $3,320,000. GSA Capital Partners LLP acquired a new position in Primoris Services during the third quarter worth $1,726,000. J.W. Cole Advisors Inc. bought a new stake in Primoris Services during the third quarter worth $1,193,000. Federated Hermes Inc. lifted its stake in Primoris Services by 5.8% in the second quarter. Federated Hermes Inc. now owns 347,785 shares of the construction company’s stock valued at $27,106,000 after acquiring an additional 18,951 shares during the last quarter. Finally, Leuthold Group LLC grew its position in shares of Primoris Services by 1,350.3% in the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the construction company’s stock valued at $6,722,000 after acquiring an additional 45,572 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Up 2.9%

Shares of PRIM opened at $137.00 on Tuesday. The firm has a market cap of $7.41 billion, a P/E ratio of 45.36 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services Co. has a 52 week low of $49.10 and a 52 week high of $174.43. The firm’s 50-day simple moving average is $147.63 and its 200 day simple moving average is $135.07.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data 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 return on equity of 15.23% and a net margin of 2.68%.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 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, analysts forecast 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. Shareholders of record on Tuesday, March 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Primoris Services’s dividend payout ratio is currently 6.36%.

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the transaction, the director owned 74,466 shares in the company, valued at $10,127,376. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PRIM shares. UBS Group upped their target price on shares of Primoris Services from $165.00 to $176.00 and gave the company a “buy” 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. Mizuho boosted their price target on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Wells Fargo & Company raised their price objective on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. Finally, Guggenheim lifted their target price on Primoris Services from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and an average target price 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.