3,280 Shares in Primoris Services Co. $PRIM Acquired by Vise Technologies Inc.

Vise Technologies Inc. bought a new position in shares of Primoris Services Co. (NASDAQ:PRIM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,280 shares of the construction company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock valued at $43,000 after buying an additional 194 shares during the period. Freedom Investment Management Inc. lifted its holdings in Primoris Services by 4.3% in the first quarter. Freedom Investment Management Inc. now owns 5,042 shares of the construction company’s stock valued at $289,000 after acquiring an additional 207 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Primoris Services by 85.4% in the second quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company’s stock valued at $38,000 after acquiring an additional 223 shares during the period. Parkside Financial Bank & Trust boosted its position in Primoris Services by 16.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,060 shares of the construction company’s stock worth $161,000 after purchasing an additional 289 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its stake in shares of Primoris Services by 1.1% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 32,184 shares of the construction company’s stock worth $2,508,000 after purchasing an additional 351 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Price Performance

Shares of Primoris Services stock opened at $117.09 on Tuesday. The stock has a market capitalization of $6.33 billion, a P/E ratio of 38.77 and a beta of 1.45. The business has a 50 day simple moving average of $132.02 and a two-hundred day simple moving average of $103.74. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $146.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.37 by $0.51. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, analysts predict that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. Primoris Services’s payout ratio is presently 6.31%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PRIM. JPMorgan Chase & Co. boosted their target price on shares of Primoris Services from $141.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Guggenheim reiterated a “neutral” rating on shares of Primoris Services in a research report on Wednesday, October 15th. Zacks Research cut Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Jefferies Financial Group reissued a “buy” rating and issued a $161.00 price objective on shares of Primoris Services in a report on Wednesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.54.

Insider Buying and Selling at Primoris Services

In related news, Director Patricia K. Wagner sold 13,491 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $125.23, for a total transaction of $1,689,477.93. Following the completion of the sale, the director owned 4,495 shares of the company’s stock, valued at approximately $562,908.85. This represents a 75.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Ching sold 2,935 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $119.89, for a total transaction of $351,877.15. Following the completion of the transaction, the director directly owned 9,534 shares in the company, valued at $1,143,031.26. This trade represents a 23.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 22,932 shares of company stock valued at $2,869,099. Insiders own 1.40% of the company’s stock.

Primoris Services Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.