TradeLink Capital LLC Takes $218,000 Position in Primoris Services Co. $PRIM

TradeLink Capital LLC purchased a new position in shares of Primoris Services Co. (NASDAQ:PRIM) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,797 shares of the construction company’s stock, valued at approximately $218,000.

A number of other large investors have also added to or reduced their stakes in PRIM. Ameritas Investment Partners Inc. boosted its position in Primoris Services by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock worth $431,000 after buying an additional 121 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after purchasing an additional 194 shares during the period. Freedom Investment Management Inc. grew its stake in shares of Primoris Services by 4.3% in the first quarter. Freedom Investment Management Inc. now owns 5,042 shares of the construction company’s stock worth $289,000 after purchasing an additional 207 shares during the last quarter. Public Employees Retirement System of Ohio increased 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 purchasing an additional 223 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Primoris Services by 16.3% during 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 during the last quarter. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, COO Jeremy Kinch sold 3,006 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $124.00, for a total transaction of $372,744.00. Following the completion of the sale, the chief operating officer directly owned 9,580 shares of the company’s stock, valued at approximately $1,187,920. The trade was a 23.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patricia K. Wagner sold 13,491 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $125.23, for a total value of $1,689,477.93. Following the completion of the sale, the director directly owned 4,495 shares of the company’s stock, valued at approximately $562,908.85. This trade represents a 75.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,932 shares of company stock valued at $2,869,099. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PRIM. UBS Group upped their price target on Primoris Services from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group initiated coverage on Primoris Services in a research note on Monday, November 24th. They issued a “sell” rating and a $117.00 price objective on the stock. Guggenheim reiterated a “neutral” rating on shares of Primoris Services in a report on Wednesday, October 15th. KeyCorp raised their price target on shares of Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $161.00 price target on shares of Primoris Services in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $140.71.

Primoris Services Stock Performance

Shares of PRIM stock opened at $126.56 on Monday. Primoris Services Co. has a 52 week low of $49.10 and a 52 week high of $146.16. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 41.91 and a beta of 1.45. The firm has a 50 day moving average of $132.11 and a 200-day moving average of $107.08.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, equities analysts forecast that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid 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 is Wednesday, December 31st. Primoris Services’s payout ratio is 6.31%.

About Primoris Services

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.