LSV Asset Management Sells 182,500 Shares of Primoris Services Corporation $PRIM

LSV Asset Management reduced its position in shares of Primoris Services Corporation (NYSE:PRIM) by 77.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 53,700 shares of the company’s stock after selling 182,500 shares during the quarter. LSV Asset Management’s holdings in Primoris Services were worth $6,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRIM. NewEdge Advisors LLC raised its holdings in Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Primoris Services by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after purchasing an additional 33,934 shares during the last quarter. Caxton Associates LLP bought a new stake in Primoris Services during the 1st quarter worth about $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Primoris Services by 25.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after purchasing an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in Primoris Services during the 2nd quarter worth about $274,000. 91.82% of the stock is owned by institutional investors.

Primoris Services Stock Performance

Shares of PRIM stock opened at $130.14 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50-day moving average of $143.24 and a 200-day moving average of $139.81. Primoris Services Corporation has a one year low of $70.68 and a one year high of $205.50. The stock has a market cap of $7.06 billion, a PE ratio of 28.67 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, sell-side analysts expect that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.08 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services’s payout ratio is currently 7.05%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Needham & Company LLC dropped their price objective on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a report on Friday, May 8th. UBS Group dropped their price objective on Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a report on Monday, May 11th. Wolfe Research assumed coverage on Primoris Services in a report on Thursday, April 9th. They set an “outperform” rating and a $183.00 price objective for the company. Finally, Weiss Ratings cut Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

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.