Gabelli Funds LLC Sells 8,628 Shares of Primoris Services Corporation $PRIM

Gabelli Funds LLC cut its position in Primoris Services Corporation (NYSE:PRIM) by 14.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 52,176 shares of the company’s stock after selling 8,628 shares during the quarter. Gabelli Funds LLC’s holdings in Primoris Services were worth $7,463,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. purchased a new stake in shares of Primoris Services during the fourth quarter valued at approximately $33,000. Root Financial Partners LLC increased its position in shares of Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after acquiring an additional 69 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Primoris Services in the 2nd quarter worth approximately $34,000. Cullen Frost Bankers Inc. raised its holdings in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Down 1.0%

NYSE:PRIM opened at $85.61 on Tuesday. 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 company has a market cap of $4.64 billion, a PE ratio of 18.86 and a beta of 1.41. The company has a 50 day simple moving average of $101.24 and a two-hundred day simple moving average of $131.61.

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 analysts’ consensus estimates of $0.87 by ($0.28). The company had revenue of $1.56 billion for 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%. Primoris Services’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research 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 disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, June 30th. Primoris Services’s dividend payout ratio is 7.05%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company cut their target price on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 23rd. Wall Street Zen downgraded Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings cut Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Primoris Services in a research report on Tuesday, June 23rd. Finally, Cantor Fitzgerald reduced their price objective on Primoris Services from $124.00 to $100.00 and set a “neutral” rating for the company in a report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average target price of $137.47.

Key Headlines Impacting Primoris Services

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

• Neutral Sentiment: A securities class action has been filed on behalf of investors who purchased Primoris securities between August 5, 2025, and June 22, 2026. Investors have until September 21, 2026 to seek appointment as lead plaintiff. The deadline and investor-notification announcements are procedural and do not establish that Primoris or its executives violated securities laws. Deadline Alert: Primoris Services Corporation Shareholders
• Negative Sentiment: The lawsuit alleges that Primoris and certain current and former executives misled investors about the company’s project-management capabilities. The allegations reportedly relate to persistent execution problems, a major selloff and the departure of the company’s chief operating officer. Primoris Faces Securities Class Action
• Negative Sentiment: The unusually large number of investor-law-firm alerts on July 26–27 increases the visibility of the litigation and may weigh on sentiment by raising potential legal costs, management distraction and reputational risk. The financial impact remains uncertain because the case is ongoing. PRIM Investors Have Opportunity to Lead Securities Fraud Lawsuit

Insiders Place Their Bets

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Lee King sold 20,000 shares of the business’s 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 sale, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This 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 currently owned by corporate insiders.

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.