Lazard Asset Management LLC Reduces Stake in Primoris Services Corporation $PRIM

Lazard Asset Management LLC reduced its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 47.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,639 shares of the company’s stock after selling 91,992 shares during the quarter. Lazard Asset Management LLC owned about 0.19% of Primoris Services worth $14,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Harbour Investments Inc. bought a new position in shares of Primoris Services during the 4th quarter valued at approximately $33,000. Root Financial Partners LLC lifted its position in Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in Primoris Services during the second quarter worth $34,000. Cullen Frost Bankers Inc. boosted its stake in Primoris Services by 30.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after buying an additional 81 shares during the period. Finally, NewEdge Advisors LLC increased its position in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after acquiring an additional 194 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PRIM. JPMorgan Chase & Co. raised shares of Primoris Services from a “neutral” rating to an “overweight” rating and increased their target price for the company from $105.00 to $116.00 in a research note on Monday, June 29th. Guggenheim reaffirmed a “buy” rating and set a $162.00 price target on shares of Primoris Services in a research note on Tuesday, June 23rd. KeyCorp reiterated a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. Needham & Company LLC reduced their price objective on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Finally, Wolfe Research reissued an “outperform” rating and issued a $149.00 price objective on shares of Primoris Services in a research note on Monday, June 15th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

Primoris Services Stock Down 5.2%

Shares of PRIM opened at $74.81 on Thursday. The firm has a market capitalization of $4.06 billion, a P/E ratio of 16.48 and a beta of 1.41. Primoris Services Corporation has a 12-month low of $65.00 and a 12-month high of $205.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a fifty day moving average price of $100.08 and a 200-day moving average price of $130.91.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts expect that Primoris Services Corporation will post 1.87 earnings per share for the current year.

Insider Activity at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Key Stories Impacting Primoris Services

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

• Negative Sentiment: A securities-fraud lawsuit was filed on behalf of investors who purchased PRIM shares from August 5, 2025, through June 22, 2026. The complaint alleges that Primoris and certain executives made material misstatements or omissions regarding the costs, risks and profitability of significant fixed-price renewable-energy projects. Investors may seek lead-plaintiff status by September 21, 2026. Primoris securities fraud class action lawsuit
• Negative Sentiment: Multiple law firms—including Rosen, Robbins, Kessler Topaz, Hagens Berman and others—are soliciting investors to participate in the case. Although these announcements largely repeat the same allegations, their volume increases attention on potential litigation, governance and reputational risks. Rosen Primoris investor notice
• Negative Sentiment: The allegations center on cost overruns and margin deterioration across six renewable projects, as well as claims that Primoris did not adequately disclose those risks. One investor notice links the controversy to a $23.39-per-share decline after the company sharply reduced its outlook; it also references concerns about project-management capabilities and the departure of the COO. Levi and Korsinsky Primoris alert
• Negative Sentiment: Near-term earnings expectations are also weak: a preview anticipates a year-over-year decline in second-quarter earnings and says Primoris lacks the indicators typically associated with a likely earnings beat. This follows the company’s latest reported quarter, in which EPS and revenue missed consensus estimates. Primoris second-quarter earnings preview

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.