Key Points
- Primoris Services director David Lee King sold 20,000 shares on May 26 at an average price of $119.09, totaling $2.38 million. After the sale, he still held 14,941 shares, reducing his ownership by 57.24%.
- The company recently missed quarterly expectations, reporting earnings of $0.59 per share versus the $0.87 consensus and revenue of $1.56 billion versus $1.73 billion expected. Revenue fell 5.4% year over year, though Primoris reaffirmed full-year 2026 EPS guidance of 4.80 to 5.00.
- Primoris Services also announced a quarterly dividend of $0.08 per share, payable July 15 to shareholders of record on June 30. That works out to a 0.3% annualized yield and a low payout ratio of 7.05%.
Primoris Services Corporation (NYSE:PRIM - Get Free Report) Director David Lee King sold 20,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the transaction, the director directly owned 14,941 shares of the company's stock, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Primoris Services Stock Performance
NYSE PRIM opened at $126.48 on Friday. Primoris Services Corporation has a fifty-two week low of $70.68 and a fifty-two week high of $205.50. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 27.86 and a beta of 1.50. The business has a fifty day moving average of $142.75 and a 200-day moving average of $139.85. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.
Primoris Services (NYSE:PRIM - Get Free Report) 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). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $0.98 earnings per share. The business's revenue 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, analysts predict that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.
Primoris Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services's payout ratio is currently 7.05%.
Institutional Investors Weigh In On Primoris Services
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company's stock valued at $804,361,000 after acquiring an additional 466,192 shares during the period. First Trust Advisors LP boosted its position in shares of Primoris Services by 47.4% in the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock worth $412,837,000 after buying an additional 928,155 shares during the period. State Street Corp boosted its position in shares of Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company's stock worth $249,866,000 after buying an additional 728,646 shares during the period. Wellington Management Group LLP boosted its position in shares of Primoris Services by 163.0% in the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company's stock worth $216,774,000 after buying an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Primoris Services by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company's stock worth $164,526,000 after buying an additional 42,052 shares during the period. Hedge funds and other institutional investors own 91.82% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the company. Wolfe Research assumed coverage on Primoris Services in a research report on Thursday, April 9th. They issued an "outperform" rating and a $183.00 price objective for the company. KeyCorp lowered their price objective on Primoris Services from $179.00 to $137.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Guggenheim boosted their price target on Primoris Services from $184.00 to $195.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Cantor Fitzgerald boosted their price target on Primoris Services from $113.00 to $124.00 and gave the company a "neutral" rating in a research report on Tuesday, May 19th. Finally, Needham & Company LLC lowered their price target on Primoris Services from $205.00 to $188.00 and set a "buy" rating for the company in a research report on Friday, May 8th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.20.
View Our Latest Stock Report on Primoris Services
About Primoris Services
(
Get Free Report)
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.
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