Royal Bank of Canada Purchases 24,672 Shares of Primoris Services Corporation $PRIM

Royal Bank of Canada lifted its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 79.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,614 shares of the company’s stock after purchasing an additional 24,672 shares during the quarter. Royal Bank of Canada owned approximately 0.10% of Primoris Services worth $7,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. New York State Teachers Retirement System lifted its position in shares of Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after buying an additional 16,008 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Primoris Services by 509.6% during the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after acquiring an additional 281,482 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Primoris Services by 2,338.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock valued at $39,033,000 after acquiring an additional 301,532 shares during the last quarter. UBS Group AG raised its stake in shares of Primoris Services by 2.4% in the 4th quarter. UBS Group AG now owns 638,876 shares of the company’s stock valued at $79,310,000 after acquiring an additional 15,112 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Primoris Services in the 4th quarter valued at approximately $1,116,000. Institutional investors own 91.82% of the company’s stock.

Insider Transactions at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lee King sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Primoris Services Stock Down 2.3%

PRIM stock opened at $80.76 on Tuesday. 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 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The company has a market cap of $4.35 billion, a PE ratio of 31.67 and a beta of 1.43. The business’s 50-day simple moving average is $94.02 and its 200 day simple moving average is $127.69.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. On average, research 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Primoris Services’s dividend payout ratio (DPR) is presently 12.55%.

Primoris Services News Roundup

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

• Positive Sentiment: UBS maintains a Buy rating despite cutting its price target. UBS lowered its target from $186 to $138, citing a more cautious outlook, but the revised target still implies substantial potential upside from recent trading levels. The continued Buy rating provides some support for the investment case. Benzinga article
• Neutral Sentiment: Several law firms publicized the same securities class action and September 21, 2026 lead-plaintiff deadline. Notices from Rosen, Kahn Swick & Foti, Kaplan Fox, Hagens Berman, Robbins Geller and Kessler Topaz are largely duplicative announcements rather than separate lawsuits. Investors who purchased PRIM shares between August 5, 2025 and June 22, 2026 may seek appointment as lead plaintiff. Rosen investor notice
• Negative Sentiment: The lawsuit alleges Primoris misled investors about project-management capabilities and the costs and risks of significant fixed-price renewable-energy projects. If substantiated, the claims could result in litigation costs, potential damages and further scrutiny of the company’s controls, project margins and prior disclosures. The allegations are not proven, but their repeated publication is likely weighing on sentiment. Primoris securities lawsuit announcement

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PRIM shares. Oppenheimer began coverage on Primoris Services in a report on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 target price for the company. UBS Group reissued a “neutral” rating on shares of Primoris Services in a research report on Monday. Cantor Fitzgerald boosted their price objective on shares of Primoris Services from $100.00 to $105.00 and gave the stock a “neutral” rating in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, June 23rd. Finally, Needham & Company LLC lowered their target price on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.27.

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.