Gabelli Funds LLC Sells 8,628 Shares of Primoris Services Corporation $PRIM

Gabelli Funds LLC lessened its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 14.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,176 shares of the company’s stock after selling 8,628 shares during the period. Gabelli Funds LLC owned about 0.10% of Primoris Services worth $7,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRIM. Harbour Investments Inc. purchased a new position in shares of Primoris Services during the fourth quarter valued at approximately $33,000. Root Financial Partners LLC raised its holdings in shares of Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Osterweis Capital Management Inc. purchased a new stake in Primoris Services in the second quarter worth $34,000. Cullen Frost Bankers Inc. lifted its stake in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after acquiring an additional 194 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling

In related news, 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 owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This trade represents a 57.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on 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 transaction, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $85.61 on Tuesday. 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 firm has a market capitalization of $4.64 billion, a P/E ratio of 18.86 and a beta of 1.41. The business has a fifty day simple moving average of $101.24 and a two-hundred day simple moving average of $131.61. Primoris Services Corporation has a 12 month low of $65.00 and a 12 month high of $205.50.

Primoris Services (NYSE:PRIM) last released its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share 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 analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts forecast that Primoris Services Corporation will post 1.87 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Primoris Services News Roundup

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

• Neutral Sentiment: A securities class action has been filed on behalf of investors who purchased Primoris securities between August 5, 2025, and June 22, 2026. Investors have until September 21, 2026 to seek appointment as lead plaintiff. The deadline and investor-notification announcements are procedural and do not establish that Primoris or its executives violated securities laws. 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 allegations reportedly relate to persistent execution problems, a major selloff and the departure of the company’s chief operating officer. Primoris Faces Securities Class Action
• Negative Sentiment: The unusually large number of investor-law-firm alerts on July 26–27 increases the visibility of the litigation and may weigh on sentiment by raising potential legal costs, management distraction and reputational risk. The financial impact remains uncertain because the case is ongoing. PRIM Investors Have Opportunity to Lead Securities Fraud Lawsuit

Wall Street Analyst Weigh In

PRIM has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Mizuho dropped their target price on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company 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. Wells Fargo & Company decreased their price target on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 23rd. Finally, KeyCorp restated a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.47.

About Primoris Services

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.