Louisiana State Employees Retirement System Buys New Stake in Primoris Services Corporation $PRIM

Louisiana State Employees Retirement System bought a new stake in Primoris Services Corporation (NYSE:PRIM) in the 1st quarter, HoldingsChannel reports. The fund bought 24,000 shares of the company’s stock, valued at approximately $3,433,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Silver Oak Securities Incorporated boosted its holdings in Primoris Services by 4.4% in the first quarter. Silver Oak Securities Incorporated now owns 3,552 shares of the company’s stock worth $508,000 after acquiring an additional 151 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Primoris Services during the first quarter valued at about $240,000. OP Asset Management Ltd purchased a new position in shares of Primoris Services in the 1st quarter valued at approximately $891,000. CENTRAL TRUST Co raised its position in shares of Primoris Services by 7,500.0% in the 1st quarter. CENTRAL TRUST Co now owns 608 shares of the company’s stock valued at $87,000 after purchasing an additional 600 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Primoris Services by 271.2% in the 1st quarter. SG Americas Securities LLC now owns 7,386 shares of the company’s stock worth $1,056,000 after purchasing an additional 5,396 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRIM has been the topic of several research analyst reports. The Goldman Sachs Group raised shares of Primoris Services from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $107.00 to $102.00 in a research report on Thursday. Wall Street Zen downgraded shares of Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Guggenheim reissued a “buy” rating and issued a $162.00 target price on shares of Primoris Services in a research report on Tuesday, June 23rd. Finally, Needham & Company LLC reduced their target price on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Insider Activity

In other Primoris Services news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John M. Perisich sold 29,707 shares of the business’s stock in a transaction dated 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 directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

Key Primoris Services News

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 Stock Performance

PRIM opened at $93.13 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 12-month low of $65.00 and a 12-month high of $205.50. The firm has a 50 day moving average of $124.85 and a two-hundred day moving average of $137.38. The firm has a market capitalization of $5.05 billion, a PE ratio of 20.51 and a beta of 1.36.

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

Primoris Services Announces Dividend

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

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.