Union Bancaire Privee UBP SA Buys 21,968 Shares of Primoris Services Corporation $PRIM

Union Bancaire Privee UBP SA raised its stake in Primoris Services Corporation (NYSE:PRIM) by 280.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 29,804 shares of the company’s stock after buying an additional 21,968 shares during the period. Union Bancaire Privee UBP SA’s holdings in Primoris Services were worth $4,263,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after acquiring an additional 466,192 shares in the last quarter. State Street Corp grew its stake in Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after purchasing an additional 728,646 shares in the last quarter. First Trust Advisors LP grew its stake in Primoris Services by 12.1% in the fourth quarter. First Trust Advisors LP now owns 1,958,008 shares of the company’s stock worth $243,067,000 after purchasing an additional 211,096 shares in the last quarter. Wellington Management Group LLP increased its holdings in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Primoris Services by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock worth $164,526,000 after purchasing an additional 42,052 shares during the period. 91.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David Lee King sold 20,000 shares of the 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 owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PRIM has been the subject of a number of research analyst reports. Weiss Ratings lowered Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wolfe Research restated an “outperform” rating and set a $149.00 price target on shares of Primoris Services in a research note on Monday, June 15th. Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wall Street Zen lowered shares of Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Cantor Fitzgerald lowered their price objective on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Primoris Services Trading Down 2.4%

NYSE:PRIM opened at $93.13 on Friday. Primoris Services Corporation has a 52 week low of $65.00 and a 52 week high of $205.50. The firm has a 50 day moving average of $124.85 and a 200 day moving average of $137.38. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 20.51 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last announced its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.98 earnings per share. Primoris Services’s revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, sell-side analysts anticipate that Primoris Services Corporation will post 1.91 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is presently 7.05%.

Key Stories Impacting Primoris Services

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

• Positive Sentiment: Goldman Sachs upgraded Primoris from sell to neutral, suggesting the stock may be less weak than before, even though the firm still trimmed its price target. Goldman’s revised target implies some upside from recent trading levels.
• Neutral Sentiment: Cantor Fitzgerald lowered its price target on Primoris and kept a neutral stance, signaling a more cautious but not outright bearish view from another analyst.
• Neutral Sentiment: AAII published a comparison piece on Primoris versus MYR Group, which appears informational rather than a direct company catalyst. Article Title
• Negative Sentiment: KeyCorp sharply cut earnings estimates for Primoris across Q2, Q3, Q4, and FY2026, reflecting a much weaker outlook for profitability and adding pressure on the stock.
• Negative Sentiment: Pomerantz LLP and Bragar Eagel & Squire both announced investigations into Primoris on behalf of stockholders, which raises the risk of legal overhang and investor concern. Article Title
• Negative Sentiment: Seeking Alpha and PR Newswire reports highlighted worsening execution problems in Primoris’ renewables projects, including additional cost overruns, expanded project issues, and the departure of the COO. These developments reinforce fears that operational problems could keep weighing on earnings and sentiment. Article Title Article Title

Primoris Services 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.