Freestone Grove Partners LP Takes Position in Primoris Services Corporation $PRIM

Freestone Grove Partners LP bought a new position in shares of Primoris Services Corporation (NYSE:PRIM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 39,081 shares of the company’s stock, valued at approximately $3,874,000.

Several other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System boosted its stake in Primoris Services by 327.8% during the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock worth $2,594,000 after purchasing an additional 16,008 shares during the period. Principal Financial Group Inc. increased its stake in Primoris Services by 509.6% in the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after purchasing an additional 281,482 shares during the period. UBS Group AG raised its holdings in shares of Primoris Services by 2.4% in the fourth quarter. UBS Group AG now owns 638,876 shares of the company’s stock valued at $79,310,000 after buying an additional 15,112 shares during the last quarter. Total Wealth Planning & Management Inc. purchased a new stake in shares of Primoris Services in the fourth quarter valued at about $1,116,000. Finally, Bank of America Corp DE boosted its stake in shares of Primoris Services by 4.4% during the first quarter. Bank of America Corp DE now owns 324,887 shares of the company’s stock worth $46,472,000 after buying an additional 13,617 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services News Summary

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

• Positive Sentiment: Brokerages maintain an overall “Moderate Buy” rating for Primoris, suggesting analysts remain broadly constructive despite the recent legal overhang. Primoris Services Corporation Receives Average Recommendation of Moderate Buy from Brokerages
• Neutral Sentiment: Multiple law firms reminded investors that September 21, 2026, is the deadline to seek appointment as lead plaintiff in a securities class action covering purchases of PRIM shares from August 5, 2025, through June 22, 2026. These announcements primarily solicit potential plaintiffs and do not establish liability. Kaplan Fox Securities Class Action Deadline Notice
• Negative Sentiment: The litigation-related notices allege that Primoris and certain executives made misleading statements or failed to disclose problems involving six renewable-energy projects, including cost overruns and delays. If the case advances, potential financial costs, reputational damage and increased scrutiny could weigh on investor sentiment. SueWallSt Primoris Class Action Notice
• Negative Sentiment: The unusually high number of competing law-firm announcements from August 27–28 keeps the lawsuit in the news and may amplify concerns about Primoris’ project execution, earnings visibility and possible legal exposure. Bragar Eagel and Squire Primoris Investor Notice

Analysts Set New Price Targets

Several brokerages have weighed in on PRIM. Guggenheim lowered 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. Cantor Fitzgerald lifted their price objective on shares of Primoris Services from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Roth Capital reissued a “buy” rating and issued a $100.00 price objective on shares of Primoris Services in a research note on Monday, July 20th. Wolfe Research restated an “outperform” rating and set a $149.00 price objective on shares of Primoris Services in a research report on Monday, June 15th. Finally, Needham & Company LLC reduced their target price on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a research note on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.27.

Primoris Services Stock Performance

NYSE:PRIM opened at $73.02 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.93 billion, a P/E ratio of 28.64 and a beta of 1.43. The firm has a 50-day moving average price of $85.66 and a two-hundred day moving average price of $120.79. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50.

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

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 annualized dividend and a yield of 0.4%. Primoris Services’s payout ratio is 12.55%.

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.