Total Wealth Planning & Management Inc. Makes New Investment in Primoris Services Corporation $PRIM

Total Wealth Planning & Management Inc. purchased a new position in shares of Primoris Services Corporation (NYSE:PRIM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 8,986 shares of the company’s stock, valued at approximately $1,116,000. Primoris Services accounts for 0.8% of Total Wealth Planning & Management Inc.’s portfolio, making the stock its 25th largest holding.

A number of other large investors also recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in shares of Primoris Services in the third quarter worth $1,726,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Primoris Services in the third quarter worth $1,193,000. Nordea Investment Management AB acquired a new stake in shares of Primoris Services in the fourth quarter worth $7,181,000. New York State Teachers Retirement System increased its position in shares of Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after acquiring an additional 16,008 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Primoris Services by 509.6% in the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock worth $41,800,000 after acquiring an additional 281,482 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Insiders Place Their Bets

In related news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Primoris Services Price Performance

PRIM opened at $127.54 on Friday. The company has a fifty day simple moving average of $141.03 and a 200 day simple moving average of $139.93. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 28.09 and a beta of 1.36. Primoris Services Corporation has a twelve month low of $70.68 and a twelve month high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

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

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is presently 7.05%.

Wall Street Analysts Forecast Growth

PRIM has been the subject of several recent research reports. Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. UBS Group dropped their price objective on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Needham & Company LLC dropped their price objective on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on shares of Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Finally, Mizuho raised shares of Primoris Services from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $175.00 to $135.00 in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.20.

Primoris Services Company 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.