Van ECK Associates Corp Invests $8.22 Million in Primoris Services Corporation $PRIM

Van ECK Associates Corp bought a new stake in shares of Primoris Services Corporation (NYSE:PRIM) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 82,962 shares of the company’s stock, valued at approximately $8,223,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. New York State Teachers Retirement System boosted its holdings in Primoris Services by 327.8% during the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after purchasing an additional 16,008 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Primoris Services by 509.6% in the 4th 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. Total Wealth Planning & Management Inc. acquired a new position in shares of Primoris Services in the 4th quarter worth approximately $1,116,000. Bank of America Corp DE raised its holdings in shares of Primoris Services by 4.4% in the 1st 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 in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Primoris Services by 79.7% during the 1st quarter. Royal Bank of Canada now owns 55,614 shares of the company’s stock worth $7,955,000 after buying an additional 24,672 shares during the period. Institutional investors own 91.82% of the company’s stock.

Key Headlines Impacting Primoris Services

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

• Positive Sentiment: Primoris announced the appointment of James A. Greer and Oscar K. Brown to its board, effective October 1. The additions expand the board to 10 members and bring experienced energy-industry leadership, potentially strengthening oversight and governance. Primoris board appointments
• Neutral Sentiment: Several law firms issued substantially similar notices about the same securities class action, creating a September 21, 2026 deadline for investors to seek appointment as lead plaintiff. The repeated announcements do not represent separate confirmed lawsuits, but they increase the issue’s visibility. Primoris investor deadline notice
• Negative Sentiment: The class action alleges that Primoris failed to accurately estimate costs, forecast costs to complete, and oversee renewable-energy projects. The investor alerts link these alleged issues to repeated project-cost disclosures and a sharp reduction in guidance, including a reported $23.39 per-share decline. If the claims proceed, Primoris could face legal expenses, potential damages, and further scrutiny of project execution and internal controls. Primoris shareholder class action alert

Primoris Services Stock Up 0.0%

NYSE PRIM opened at $72.14 on Wednesday. The firm has a market cap of $3.88 billion, a PE ratio of 28.29 and a beta of 1.44. Primoris Services Corporation has a one year low of $65.00 and a one year high of $205.50. The stock’s 50 day simple moving average is $84.68 and its 200 day simple moving average is $119.22. 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 (NYSE:PRIM) last issued its quarterly earnings data 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. The firm 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 business’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, sell-side analysts forecast that Primoris Services Corporation will post 1.76 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, September 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 12.55%.

Wall Street Analyst Weigh In

Several analysts recently commented on PRIM shares. Roth Capital reaffirmed a “buy” rating and issued a $100.00 price target on shares of Primoris Services in a research note on Monday, July 20th. The Goldman Sachs Group raised Primoris Services from a “sell” rating to a “neutral” rating and cut their price objective for the company from $107.00 to $102.00 in a report on Thursday, June 25th. Cantor Fitzgerald boosted their target price on shares of Primoris Services from $100.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Guggenheim reduced their target price on shares of Primoris Services from $162.00 to $127.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. 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 report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.