Blair William & Co. IL Grows Stock Holdings in Primoris Services Corporation $PRIM

Blair William & Co. IL grew its position in shares of Primoris Services Corporation (NYSE:PRIM) by 248.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,639 shares of the company’s stock after purchasing an additional 9,720 shares during the period. Blair William & Co. IL’s holdings in Primoris Services were worth $1,873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in shares of Primoris Services during the 3rd quarter valued at about $919,000. Marietta Investment Partners LLC lifted its position in Primoris Services by 40.9% in the 3rd quarter. Marietta Investment Partners LLC now owns 13,582 shares of the company’s stock worth $1,865,000 after buying an additional 3,940 shares during the last quarter. Aptus Capital Advisors LLC grew its position in Primoris Services by 15.1% during the third quarter. Aptus Capital Advisors LLC now owns 138,500 shares of the company’s stock valued at $19,020,000 after acquiring an additional 18,152 shares during the last quarter. NewSquare Capital LLC purchased a new position in Primoris Services in the 3rd quarter worth $7,400,000. Finally, Picton Mahoney Asset Management lifted its stake in Primoris Services by 205,557.1% in the third quarter. Picton Mahoney Asset Management now owns 43,188 shares of the company’s stock worth $5,933,000 after purchasing an additional 43,167 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PRIM. Wells Fargo & Company increased their price objective on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Guggenheim boosted their price objective on shares of Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Mizuho increased their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group raised 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. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Price Performance

Shares of Primoris Services stock opened at $132.47 on Friday. Primoris Services Corporation has a 1 year low of $49.10 and a 1 year high of $174.43. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 26.33 and a beta of 1.36. The stock has a 50-day simple moving average of $148.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.26.

Primoris Services (NYSE:PRIM) last announced 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. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company earned $1.13 earnings per share. The business’s revenue 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 Announces Dividend

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

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.