SIR Capital Management L.P. Makes New Investment in Primoris Services Corporation $PRIM

SIR Capital Management L.P. acquired a new stake in Primoris Services Corporation (NYSE:PRIM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 93,640 shares of the company’s stock, valued at approximately $9,282,000. SIR Capital Management L.P. owned 0.17% of Primoris Services as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PRIM. BlackRock Inc. purchased a new position in Primoris Services in the 2nd quarter valued at approximately $677,685,000. Vanguard Group Inc. grew its stake in shares of Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after acquiring an additional 466,192 shares in the last quarter. First Trust Advisors LP increased its position in shares of Primoris Services by 47.4% during the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock worth $412,837,000 after acquiring an additional 928,155 shares during the period. State Street Corp increased its position in shares of Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after acquiring an additional 728,646 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Primoris Services by 163.0% in the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after acquiring an additional 1,082,218 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insiders Place Their Bets

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Primoris Services Stock Performance

Shares of PRIM opened at $75.24 on Tuesday. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 29.51 and a beta of 1.43. Primoris Services Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $87.76 and a 200 day moving average price of $122.71.

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

Primoris Services Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, June 23rd. Wolfe Research restated an “outperform” rating and set a $149.00 price target on shares of Primoris Services in a report on Monday, June 15th. Needham & Company LLC reduced their price target on Primoris Services from $188.00 to $172.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Mizuho decreased their price objective on Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a research note on Tuesday, June 23rd. Finally, Oppenheimer began coverage on Primoris Services in a research report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and a consensus price target of $132.27.

Key Stories Impacting Primoris Services

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

• Neutral Sentiment: The announcements largely repeat the same lawsuit details rather than reporting a new company filing or operational development. The proposed class covers investors who purchased Primoris securities from August 5, 2025, through June 22, 2026, with a lead-plaintiff application deadline of September 21, 2026. KSF class action notice
• Negative Sentiment: The complaints allege that Primoris and certain current and former executives made materially false or misleading statements about cost forecasting, project oversight, project-management capabilities, and expected profitability for renewable-energy construction projects. If the claims proceed, investors face potential litigation costs, reputational damage, and added uncertainty regarding historical project results. The allegations have not been proven. Robbins LLP class action reminder
• Negative Sentiment: The concentration of notices from Rosen, Robbins, Kahn Swick & Foti, Hagens Berman, Schall Brown & Schwartz, Levi & Korsinsky, and Kaplan Fox increases the visibility of the legal issue, even though the releases primarily seek investor participation and do not represent separate new lawsuits. Hagens Berman investor alert

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.