Thames Capital Management LLC Makes New Investment in Primoris Services Co. $PRIM

Thames Capital Management LLC purchased a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the 3rd quarter, Holdings Channel reports. The fund purchased 100,005 shares of the construction company’s stock, valued at approximately $13,734,000. Primoris Services accounts for about 2.0% of Thames Capital Management LLC’s holdings, making the stock its 24th largest holding.

A number of other large investors also recently made changes to their positions in PRIM. David J Yvars Group acquired a new stake in shares of Primoris Services in the third quarter valued at about $648,000. Decker Retirement Planning Inc. bought a new position in shares of Primoris Services during the 3rd quarter worth about $3,864,000. Citizens Financial Group Inc. RI acquired a new stake in Primoris Services in the third quarter valued at approximately $266,000. Oliver Luxxe Assets LLC increased its stake in Primoris Services by 0.4% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the construction company’s stock valued at $4,437,000 after purchasing an additional 124 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Primoris Services during the third quarter worth about $344,000. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling at Primoris Services

In related news, Director Carla S. Mashinski sold 2,082 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director owned 21,530 shares in the company, valued at $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John P. Schauerman sold 7,815 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the completion of the sale, the director directly owned 74,466 shares in the company, valued at $10,127,376. This trade represents a 9.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,888 shares of company stock worth $3,488,679. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $147.44 on Friday. The company has a market capitalization of $7.97 billion, a PE ratio of 48.82 and a beta of 1.36. The company has a 50-day simple moving average of $127.07 and a two-hundred day simple moving average of $119.63. Primoris Services Co. has a one year low of $49.10 and a one year high of $147.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.37 by $0.51. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company earned $1.22 earnings per share. Primoris Services’s revenue for the quarter 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. Research analysts expect that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.08 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s dividend payout ratio is 6.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRIM. Mizuho set a $129.00 price target on Primoris Services in a report on Tuesday, October 28th. Jefferies Financial Group reissued a “buy” rating and set a $161.00 price target on shares of Primoris Services in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. DA Davidson lifted their price target on shares of Primoris Services from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, UBS Group upped their price objective on Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.71.

About Primoris Services

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.