South Dakota Investment Council bought a new position in shares of Primoris Services Corporation (NYSE:PRIM – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 7,800 shares of the company’s stock, valued at approximately $1,116,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. New York State Teachers Retirement System lifted its position in shares of Primoris Services by 327.8% during the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Primoris Services by 509.6% in the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after buying an additional 281,482 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Primoris Services by 2,338.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after buying an additional 301,532 shares during the period. UBS Group AG increased its position in Primoris Services by 2.4% in the 4th quarter. UBS Group AG now owns 638,876 shares of the company’s stock worth $79,310,000 after buying an additional 15,112 shares during the period. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Primoris Services during the fourth quarter worth approximately $1,116,000. 91.82% of the stock is owned by institutional investors and hedge funds.
Primoris Services Stock Performance
NYSE PRIM opened at $84.26 on Friday. The stock has a market cap of $4.57 billion, a P/E ratio of 18.56 and a beta of 1.41. The company’s 50-day simple moving average is $98.93 and its 200 day simple moving average is $130.27. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.
Wall Street Analysts Forecast Growth
PRIM has been the subject of several research reports. Weiss Ratings cut Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Roth Capital reiterated a “buy” rating and set a $100.00 target price on shares of Primoris Services in a research note on Monday, July 20th. Wall Street Zen downgraded shares of Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Wells Fargo & Company decreased their price target on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 23rd. Finally, UBS Group dropped their price objective on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and a consensus price target of $137.47.
Read Our Latest Report on Primoris Services
Key Stories Impacting Primoris Services
Here are the key news stories impacting Primoris Services this week:
- Neutral Sentiment: Several law firms reminded investors that September 21, 2026 is the deadline to seek appointment as lead plaintiff. The proposed class covers investors who purchased Primoris securities from August 5, 2025 through June 22, 2026. Deadline Alert: Primoris Services Corporation Shareholders
- Negative Sentiment: The lawsuit alleges that Primoris and certain current and former executives misled investors about the company’s project-management capabilities. The claims could create legal costs, reputational damage and additional uncertainty regarding prior disclosures. Primoris Faces Securities Class Action
- Negative Sentiment: Investor notices tie the case to persistent project-cost and execution issues, including problems involving six renewable-energy projects and a June 2026 guidance reset. Reports also reference a COO departure, adding to concerns about management and operational stability. Primoris Timeline Disclosure Events
- Negative Sentiment: The legal overhang follows Primoris’s latest reported quarter, in which earnings and revenue missed analyst expectations and revenue declined year over year. The company’s previously issued fiscal 2026 EPS guidance of $4.80–$5.00 remains an important benchmark as investors assess whether project issues are contained.
Insiders Place Their Bets
In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction 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 in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Lee King sold 20,000 shares of the 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 transaction, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.
Primoris Services 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.
Featured Stories
- Five stocks we like better than Primoris Services
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Want to see what other hedge funds are holding PRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primoris Services Corporation (NYSE:PRIM – Free Report).
Receive News & Ratings for Primoris Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services and related companies with MarketBeat.com's FREE daily email newsletter.
