Redwood Grove Capital LLC bought a new position in Primoris Services Corporation (NYSE:PRIM – Free Report) in the second quarter, Holdings Channel.com reports. The firm bought 62,291 shares of the company’s stock, valued at approximately $6,174,000. Primoris Services comprises about 1.6% of Redwood Grove Capital LLC’s holdings, making the stock its 22nd largest position.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Primoris Services during the 2nd quarter valued at about $677,685,000. Vanguard Group Inc. raised its stake in shares of Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Primoris Services by 47.4% during the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock worth $412,837,000 after purchasing an additional 928,155 shares during the period. State Street Corp lifted its holdings in shares of Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after purchasing an additional 728,646 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Primoris Services by 163.0% during the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.
Primoris Services Stock Performance
NYSE PRIM opened at $74.83 on Wednesday. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 29.35 and a beta of 1.43. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $87.19 and a 200 day moving average of $122.21.
Primoris Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Primoris Services’s payout ratio is 12.55%.
Primoris Services News Summary
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Primoris retains potential recovery upside from its broad infrastructure exposure and record backlog, according to a comparison with Argan. However, the article characterized Argan as having stronger growth, backlog and return on equity. Argan vs. Primoris Services: Which Stock Offers More Growth Potential?
- Neutral Sentiment: The class action covers investors who purchased Primoris securities between August 5, 2025, and June 22, 2026. Eligible investors have until September 21, 2026, to seek appointment as lead plaintiff; the deadline does not determine the lawsuit’s merits or guarantee investor recovery. Robbins Geller Primoris Class Action Alert
- Negative Sentiment: Several law firms—including Pomerantz, Frank R. Cruz, Glancy Prongay, Robbins Geller and others—are promoting the lawsuit, amplifying investor attention and potential reputational, legal and financial risks for Primoris. Pomerantz Primoris Investor Alert
- Negative Sentiment: The complaint alleges Primoris understated costs and failed to promptly recognize deteriorating margins on renewable-energy construction projects, while making misleading statements about cost forecasting, project oversight and profitability. These allegations are unproven, but they raise concerns about project controls and earnings quality. Robbins LLP Primoris Class Action Reminder
Analyst Ratings Changes
Several equities analysts recently weighed in on PRIM shares. Oppenheimer started coverage on shares of Primoris Services in a report on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 price target on the stock. The Goldman Sachs Group upgraded shares of Primoris Services from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $107.00 to $102.00 in a research note on Thursday, June 25th. Wolfe Research reiterated an “outperform” rating and issued a $149.00 price objective on shares of Primoris Services in a research note on Monday, June 15th. Mizuho reduced their target price on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Finally, KeyCorp restated a “sector weight” rating on shares of Primoris Services in a research report on Tuesday, June 23rd. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.27.
Check Out Our Latest Analysis on Primoris Services
Insider Activity
In other news, insider John M. Perisich sold 29,707 shares of the company’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 owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by insiders.
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.
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