Louisiana State Employees Retirement System Purchases New Shares in Primoris Services Corporation $PRIM

Louisiana State Employees Retirement System purchased a new position in Primoris Services Corporation (NYSE:PRIM) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,000 shares of the company’s stock, valued at approximately $3,433,000.

A number of other hedge funds have also bought and sold shares of PRIM. Harbour Investments Inc. purchased a new position in shares of Primoris Services during the 4th quarter worth about $33,000. Osterweis Capital Management Inc. bought a new stake in Primoris Services in the second quarter worth about $34,000. Cullen Frost Bankers Inc. boosted its position in shares of Primoris Services by 30.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the period. NewEdge Advisors LLC boosted its position in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after buying an additional 194 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Primoris Services by 120.4% during the fourth quarter. GAMMA Investing LLC now owns 357 shares of the company’s stock valued at $44,000 after buying an additional 195 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PRIM. JPMorgan Chase & Co. boosted their price objective on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Guggenheim reiterated a “buy” rating and set a $162.00 target price on shares of Primoris Services in a research report on Tuesday, June 23rd. UBS Group lowered their target price on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wolfe Research restated an “outperform” rating and issued a $149.00 price target on shares of Primoris Services in a report on Monday, June 15th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Primoris Services in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Primoris Services News Summary

Here are the key news stories impacting Primoris Services this week:

• Positive Sentiment: Goldman Sachs upgraded Primoris from sell to neutral, suggesting the stock may be less weak than before, even though the firm still trimmed its price target. Goldman’s revised target implies some upside from recent trading levels.
• Neutral Sentiment: Cantor Fitzgerald lowered its price target on Primoris and kept a neutral stance, signaling a more cautious but not outright bearish view from another analyst.
• Neutral Sentiment: AAII published a comparison piece on Primoris versus MYR Group, which appears informational rather than a direct company catalyst. Article Title
• Negative Sentiment: KeyCorp sharply cut earnings estimates for Primoris across Q2, Q3, Q4, and FY2026, reflecting a much weaker outlook for profitability and adding pressure on the stock.
• Negative Sentiment: Pomerantz LLP and Bragar Eagel & Squire both announced investigations into Primoris on behalf of stockholders, which raises the risk of legal overhang and investor concern. Article Title
• Negative Sentiment: Seeking Alpha and PR Newswire reports highlighted worsening execution problems in Primoris’ renewables projects, including additional cost overruns, expanded project issues, and the departure of the COO. These developments reinforce fears that operational problems could keep weighing on earnings and sentiment. Article Title Article Title

Insider Activity at Primoris Services

In other news, 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. The trade was a 57.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction dated Thursday, May 28th. The shares were 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 approximately $3,525,611.64. The trade was a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Primoris Services Price Performance

Shares of PRIM stock opened at $93.13 on Friday. 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 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $124.85 and a two-hundred day simple moving average of $137.38. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 20.51 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, analysts predict that Primoris Services Corporation will post 1.91 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services’s payout ratio is currently 7.05%.

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.