Primoris Services Corporation $PRIM Stock Position Trimmed by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. cut its position in shares of Primoris Services Corporation (NYSE:PRIM) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,060 shares of the company’s stock after selling 4,860 shares during the period. Primoris Services makes up 4.9% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 3rd largest holding. A. D. Beadell Investment Counsel Inc. owned about 0.11% of Primoris Services worth $7,579,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. First Trust Advisors LP grew its stake in Primoris Services by 56.4% in the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the company’s stock worth $142,872,000 after purchasing an additional 660,915 shares in the last quarter. American Century Companies Inc. raised its position in Primoris Services by 229.3% during the 2nd quarter. American Century Companies Inc. now owns 601,482 shares of the company’s stock valued at $46,880,000 after purchasing an additional 418,805 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Primoris Services by 136.0% in the 3rd quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after buying an additional 382,597 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Primoris Services in the 3rd quarter valued at about $50,071,000. Finally, Mackenzie Financial Corp lifted its position in shares of Primoris Services by 1,093.2% in the 3rd quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after purchasing an additional 348,465 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 2.2%

NYSE:PRIM opened at $143.67 on Friday. The business’s 50 day moving average price is $149.73. Primoris Services Corporation has a 12 month low of $49.10 and a 12 month high of $174.43. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 28.56 and a beta of 1.36. 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 (NYSE:PRIM) last announced its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s payout ratio is presently 6.36%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRIM. The Goldman Sachs Group increased their target price on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research report on Wednesday, January 28th. Weiss Ratings reissued a “buy (b)” rating on shares of Primoris Services in a research report on Tuesday, January 20th. Mizuho upped their price objective on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Zacks Research cut shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services 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.