Heartland Advisors Inc. Purchases New Shares in Primoris Services Corporation $PRIM

Heartland Advisors Inc. acquired a new stake in Primoris Services Corporation (NYSE:PRIM) in the second quarter, Holdings Channel reports. The institutional investor acquired 60,000 shares of the company’s stock, valued at approximately $5,947,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Primoris Services during the 2nd quarter worth about $677,685,000. Vanguard Group Inc. increased its stake in shares of Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after purchasing an additional 466,192 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after purchasing an additional 928,155 shares in the last quarter. State Street Corp raised its holdings in Primoris Services by 56.8% in the 4th 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, Wellington Management Group LLP raised its holdings in Primoris Services by 163.0% in the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Mizuho dropped their price objective on Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Weiss Ratings downgraded Primoris Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Wall Street Zen lowered Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Zacks Research lowered Primoris Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Finally, Needham & Company LLC dropped their price target on shares of Primoris Services from $188.00 to $172.00 and set a “buy” rating on the stock in a research note on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Primoris Services currently has a consensus rating of “Moderate Buy” and an average target price of $132.27.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Key Primoris Services News

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

• Neutral Sentiment: Several law firms are notifying shareholders who purchased Primoris securities between August 5, 2025, and June 22, 2026, about the lawsuit and the opportunity to apply to lead the case. The notices are largely investor-solicitation announcements and do not represent separate lawsuits or new company disclosures. Kaplan Fox class-action deadline notice
• Negative Sentiment: The complaint alleges that Primoris made material misstatements or omissions regarding the costs and risks of significant fixed-price renewable-energy projects. Investors are also citing alleged project cost overruns that undermined the company’s February 2026 adjusted EPS and adjusted EBITDA outlook. Primoris securities-fraud lawsuit summary
• Negative Sentiment: The lawsuit materials point to a reported $23.39-per-share decline on June 23, 2026, after Primoris sharply reduced guidance. The allegations remain unproven, but the litigation creates potential legal costs, financial liability, and reputational risk for Primoris Services Corporation (PRIM).

Primoris Services Trading Down 2.6%

Shares of Primoris Services stock opened at $77.17 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. The firm has a market capitalization of $4.15 billion, a PE ratio of 30.26 and a beta of 1.43. The firm’s 50-day moving average price is $88.27 and its 200 day moving average price is $123.47.

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

Primoris Services Dividend Announcement

The company 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services’s payout ratio is presently 12.55%.

Primoris Services Company 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.