Legal & General Group Plc Purchases New Shares in Primoris Services Corporation $PRIM

Legal & General Group Plc acquired a new position in Primoris Services Corporation (NYSE:PRIM) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 128,698 shares of the company’s stock, valued at approximately $12,756,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System raised its position in shares of Primoris Services by 327.8% in the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after purchasing an additional 16,008 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Primoris Services by 509.6% during the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock worth $41,800,000 after buying an additional 281,482 shares in the last quarter. UBS Group AG grew its position in shares of Primoris Services by 2.4% during the fourth quarter. UBS Group AG now owns 638,876 shares of the company’s stock worth $79,310,000 after buying an additional 15,112 shares in the last quarter. Total Wealth Planning & Management Inc. bought a new stake in shares of Primoris Services in the fourth quarter worth $1,116,000. Finally, Bank of America Corp DE raised its holdings in Primoris Services by 4.4% in the first quarter. Bank of America Corp DE now owns 324,887 shares of the company’s stock valued at $46,472,000 after acquiring an additional 13,617 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Stock Performance

Primoris Services stock opened at $72.09 on Tuesday. 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 Corporation has a 12 month low of $65.00 and a 12 month high of $205.50. The company has a fifty day moving average price of $84.93 and a two-hundred day moving average price of $119.87. The company has a market cap of $3.88 billion, a PE ratio of 28.27 and a beta of 1.43.

Primoris Services (NYSE:PRIM) last issued its earnings results 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 period in the prior year, the company earned $1.68 earnings per share. The firm’s revenue was down 10.7% compared to the same quarter last year. Research analysts expect that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Dividend Announcement

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

Primoris Services News Summary

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

• Positive Sentiment: Primoris appointed energy-industry veterans James A. Greer and Oscar K. Brown to its board, effective October 1, increasing the board to 10 directors. Their experience could strengthen strategic oversight and operational governance, although the appointments are unlikely to immediately affect earnings. Primoris Announces Board Appointments
• Neutral Sentiment: Multiple law firms reminded investors of a September 21, 2026 deadline to seek lead-plaintiff status in a securities class action covering purchases made from August 5, 2025, through June 22, 2026. These notices largely repeat previously reported litigation information rather than announce a new financial charge or settlement. Primoris Securities Lawsuit Deadline Alert
• Negative Sentiment: The lawsuit allegations focus on claims that Primoris made misleading statements or failed to disclose weaknesses involving renewable-energy project estimates, cost forecasts and project oversight. The claims have not been proven, but continued legal attention adds reputational, litigation-cost and potential liability risks, helping explain the selling pressure in PRIM. Levi and Korsinsky Primoris Lawsuit Alert

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Weiss Ratings cut shares of Primoris Services from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Roth Capital reiterated a “buy” rating and issued a $100.00 price target on shares of Primoris Services in a research note on Monday, July 20th. Zacks Research raised Primoris Services from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Finally, Wells Fargo & Company lowered their price objective 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. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.27.

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.