Insider Selling: Primoris Services (NYSE:PRIM) Insider Sells $3,798,337.02 in Stock

Primoris Services Corporation (NYSE:PRIM) insider John Perisich sold 29,707 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Primoris Services Stock Performance

Shares of PRIM opened at $125.93 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a 50 day moving average price of $142.50 and a two-hundred day moving average price of $139.82. The firm has a market capitalization of $6.83 billion, a P/E ratio of 27.74 and a beta of 1.37. Primoris Services Corporation has a 52 week low of $70.68 and a 52 week high of $205.50.

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

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services’s payout ratio is presently 7.05%.

Hedge Funds Weigh In On Primoris Services

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its holdings in Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Harbour Investments Inc. bought a new position in Primoris Services during the fourth quarter valued at $33,000. Root Financial Partners LLC grew its holdings in Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Osterweis Capital Management Inc. purchased a new stake in shares of Primoris Services during the second quarter worth $34,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Primoris Services during the third quarter worth $37,000. 91.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PRIM has been the subject of several research analyst reports. DA Davidson set a $180.00 target price on Primoris Services in a research report on Wednesday, February 25th. Zacks Research downgraded shares of Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Guggenheim boosted their price target on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Mizuho raised shares of Primoris Services from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $175.00 to $135.00 in a report on Monday, May 11th. Finally, Needham & Company LLC cut their price target on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Primoris Services 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.