Royal Bank of Canada Purchases 24,672 Shares of Primoris Services Corporation $PRIM

Royal Bank of Canada grew its position in Primoris Services Corporation (NYSE:PRIM) by 79.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 55,614 shares of the company’s stock after buying an additional 24,672 shares during the period. Royal Bank of Canada’s holdings in Primoris Services were worth $7,955,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRIM. Wellington Management Group LLP lifted its stake in shares of Primoris Services by 163.0% during 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 during the period. First Trust Advisors LP boosted its holdings in Primoris Services by 47.4% in the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after acquiring an additional 928,155 shares during the last quarter. Norges Bank acquired a new stake in Primoris Services in the fourth quarter worth about $103,368,000. State Street Corp increased its position 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 during the period. Finally, Vanguard Group Inc. raised its holdings in Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Performance

Shares of NYSE:PRIM opened at $80.76 on Tuesday. The firm’s 50 day simple moving average is $94.02 and its 200 day simple moving average is $127.69. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 31.67 and a beta of 1.43. 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 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 firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Primoris Services Corporation will post 1.87 earnings per share for the current year.

Primoris Services Announces Dividend

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

Key Stories Impacting Primoris Services

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

• Positive Sentiment: UBS maintains a Buy rating despite cutting its price target. UBS lowered its target from $186 to $138, citing a more cautious outlook, but the revised target still implies substantial potential upside from recent trading levels. The continued Buy rating provides some support for the investment case. Benzinga article
• Neutral Sentiment: Several law firms publicized the same securities class action and September 21, 2026 lead-plaintiff deadline. Notices from Rosen, Kahn Swick & Foti, Kaplan Fox, Hagens Berman, Robbins Geller and Kessler Topaz are largely duplicative announcements rather than separate lawsuits. Investors who purchased PRIM shares between August 5, 2025 and June 22, 2026 may seek appointment as lead plaintiff. Rosen investor notice
• Negative Sentiment: The lawsuit alleges Primoris misled investors about project-management capabilities and the costs and risks of significant fixed-price renewable-energy projects. If substantiated, the claims could result in litigation costs, potential damages and further scrutiny of the company’s controls, project margins and prior disclosures. The allegations are not proven, but their repeated publication is likely weighing on sentiment. Primoris securities lawsuit announcement

Insiders Place Their Bets

In related news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction on 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 in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 27,574 shares in the company, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRIM. Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised shares of Primoris Services from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $105.00 to $116.00 in a research note on Monday, June 29th. Wells Fargo & Company cut their price objective on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 23rd. The Goldman Sachs Group raised shares of Primoris Services from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $107.00 to $102.00 in a research note on Thursday, June 25th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Primoris Services in a report on Monday. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.27.

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.