Primoris Services Corporation $PRIM Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in Primoris Services Corporation (NYSE:PRIM) by 1,019.5% during the second quarter, Holdings Channel reports. The fund owned 167,930 shares of the company’s stock after purchasing an additional 152,930 shares during the quarter. Handelsbanken Fonder AB’s holdings in Primoris Services were worth $16,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PRIM. Root Financial Partners LLC increased its stake in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the period. Harbour Investments Inc. acquired a new position in shares of Primoris Services during the fourth quarter worth approximately $33,000. Salomon & Ludwin LLC acquired a new position in shares of Primoris Services during the fourth quarter worth approximately $44,000. Cullen Frost Bankers Inc. grew its holdings in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after buying an additional 81 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in Primoris Services in the 2nd quarter worth approximately $34,000. 91.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on PRIM. Guggenheim cut their target price on Primoris Services from $162.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. UBS Group reissued a “neutral” rating on shares of Primoris Services in a report on Monday. Wells Fargo & Company cut their price objective on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 23rd. Finally, Weiss Ratings downgraded shares of Primoris Services from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.27.

Insider Transactions at Primoris Services

In other Primoris Services news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction dated 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 directly owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Primoris Services Price Performance

Shares of NYSE:PRIM opened at $81.47 on Thursday. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 31.95 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. Primoris Services Corporation has a 12 month low of $65.00 and a 12 month high of $205.50. The stock’s 50 day moving average price is $92.29 and its 200 day moving average price is $126.72.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. Equities research analysts anticipate that Primoris Services Corporation will post 1.76 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Primoris Services’s payout ratio is presently 12.55%.

Key Headlines Impacting Primoris Services

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

• Positive Sentiment: UBS maintained a Buy rating on Primoris while lowering its price target to $138, suggesting the firm still sees substantial long-term upside despite recent concerns. UBS Group Lowers Primoris Services Price Target
• Neutral Sentiment: Multiple law firms publicized the same securities class action and a September 21, 2026 lead-plaintiff application deadline. The lawsuit covers investors who acquired PRIM securities from August 5, 2025, through June 22, 2026; these announcements primarily increase visibility around existing litigation rather than represent separate lawsuits. Robbins LLP Class Action Notice
• Negative Sentiment: The litigation alleges Primoris misled investors about project-management capabilities, cost forecasts, oversight and expected profitability at certain renewable-energy projects. One notice alleges disclosures related to six projects contributed to a $23.39-per-share decline. If the claims proceed, Primoris could face legal costs, damages and further reputational pressure. Levi and Korsinsky Primoris Investor Notice
• Negative Sentiment: Short interest jumped 50.2% in the second half of July to 4.49 million shares, representing 8.4% of shares outstanding and 3.1 days of average trading volume. The increase indicates stronger bearish positioning and may amplify volatility.
• Negative Sentiment: Recent operating results remain a headwind. Primoris reported a quarterly loss of $0.27 per share, although it exceeded the expected loss of $0.35. Revenue of $1.69 billion missed estimates and declined 10.7% year over year, while the company’s roughly 1.9% net margin highlights limited profitability.

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.