Van ECK Associates Corp Purchases Shares of 82,962 Primoris Services Corporation $PRIM

Van ECK Associates Corp purchased a new stake in Primoris Services Corporation (NYSE:PRIM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 82,962 shares of the company’s stock, valued at approximately $8,223,000. Van ECK Associates Corp owned 0.15% of Primoris Services as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new position in Primoris Services in the 2nd quarter valued at $677,685,000. Wellington Management Group LLP lifted its position in Primoris Services by 148.7% during the 2nd quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company’s stock worth $463,434,000 after acquiring an additional 2,795,887 shares during the last quarter. First Trust Advisors LP boosted its holdings in Primoris Services by 47.4% during 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 period. State Street Corp boosted its holdings in Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after acquiring an additional 728,646 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Primoris Services by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after purchasing an additional 42,052 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Up 0.0%

Shares of PRIM opened at $72.14 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50-day simple moving average of $84.68 and a 200-day simple moving average of $119.22. Primoris Services Corporation has a 52 week low of $65.00 and a 52 week high of $205.50. The firm has a market capitalization of $3.88 billion, a P/E ratio of 28.29 and a beta of 1.44.

Primoris Services (NYSE:PRIM) last released 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. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. On average, equities research analysts expect that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Dividend Announcement

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

Key Stories Impacting Primoris Services

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

• Positive Sentiment: Primoris announced the appointment of James A. Greer and Oscar K. Brown to its board, effective October 1. The additions expand the board to 10 members and bring experienced energy-industry leadership, potentially strengthening oversight and governance. Primoris board appointments
• Neutral Sentiment: Several law firms issued substantially similar notices about the same securities class action, creating a September 21, 2026 deadline for investors to seek appointment as lead plaintiff. The repeated announcements do not represent separate confirmed lawsuits, but they increase the issue’s visibility. Primoris investor deadline notice
• Negative Sentiment: The class action alleges that Primoris failed to accurately estimate costs, forecast costs to complete, and oversee renewable-energy projects. The investor alerts link these alleged issues to repeated project-cost disclosures and a sharp reduction in guidance, including a reported $23.39 per-share decline. If the claims proceed, Primoris could face legal expenses, potential damages, and further scrutiny of project execution and internal controls. Primoris shareholder class action alert

Analyst Ratings Changes

A number of research firms have recently commented on PRIM. Roth Capital reiterated a “buy” rating and issued a $100.00 price objective on shares of Primoris Services in a research note on Monday, July 20th. Wells Fargo & Company decreased their target price on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 23rd. Mizuho dropped their price target on Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 23rd. Needham & Company LLC cut their price target on Primoris Services from $188.00 to $172.00 and set a “buy” rating for the company in a report on Monday, July 13th. Finally, Oppenheimer started coverage on Primoris Services in a report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.27.

About Primoris Services

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.