Bank of New York Mellon Corp Decreases Stock Holdings in Primoris Services Corporation $PRIM

Bank of New York Mellon Corp lessened its holdings in Primoris Services Corporation (NYSE:PRIM) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 345,050 shares of the company’s stock after selling 11,667 shares during the period. Bank of New York Mellon Corp’s holdings in Primoris Services were worth $49,356,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRIM. Illinois Municipal Retirement Fund lifted its stake in shares of Primoris Services by 403.4% in the first quarter. Illinois Municipal Retirement Fund now owns 48,384 shares of the company’s stock worth $6,921,000 after acquiring an additional 38,772 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Primoris Services by 47.9% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,431 shares of the company’s stock worth $348,000 after purchasing an additional 787 shares during the last quarter. Archer Investment Corp purchased a new stake in Primoris Services during the 1st quarter worth approximately $207,000. Principal Financial Group Inc. raised its position in shares of Primoris Services by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 343,443 shares of the company’s stock valued at $49,126,000 after purchasing an additional 6,730 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Primoris Services by 91,981.2% in the 1st quarter. Fifth Third Bancorp now owns 29,466 shares of the company’s stock valued at $4,215,000 after purchasing an additional 29,434 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Analyst Upgrades and Downgrades

PRIM has been the subject of a number of recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of Primoris Services in a research report on Tuesday, June 23rd. UBS Group cut their target price on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Guggenheim reaffirmed a “buy” rating and set a $162.00 price target on shares of Primoris Services in a research report on Tuesday, June 23rd. The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $107.00 to $102.00 in a research note on Thursday, June 25th. Finally, Wolfe Research reissued an “outperform” rating and issued a $149.00 price objective on shares of Primoris Services in a report on Monday, June 15th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

Key Headlines Impacting Primoris Services

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

• Negative Sentiment: Several firms, including Robbins Geller, Howard G. Smith, Schall, Rosen, Pomerantz, Bernstein Liebhard, DJS, Kirby McInerney, Bragar Eagel & Squire, and KSF, issued fresh notices about the Primoris securities class action and the September 21, 2026 lead-plaintiff deadline, keeping legal risk in focus for shareholders. Article Title
• Negative Sentiment: The lawsuit campaign suggests investors are still reacting to alleged securities-law violations, which can weigh on sentiment by increasing uncertainty, legal costs, and the risk of further disclosure-related headlines. Article Title
• Neutral Sentiment: J.P. Morgan reiterated a Buy rating on Primoris, offering some offsetting support, but the rating update was not enough to overshadow the litigation headlines. Article Title

Insider Buying and Selling at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of the 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 completion of the transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction 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 $1,779,323.69. This represents a 57.24% 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 Trading Down 4.5%

Shares of NYSE:PRIM opened at $86.59 on Friday. The company’s 50-day moving average price is $101.70 and its 200 day moving average price is $131.91. The company has a market cap of $4.70 billion, a PE ratio of 19.07 and a beta of 1.41. 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 Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Sell-side analysts anticipate that Primoris Services Corporation will post 1.87 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.08 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.4%. Primoris Services’s payout ratio is 7.05%.

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.