Kayne Anderson Capital Advisors LP Makes New Investment in Primoris Services Corporation $PRIM

Kayne Anderson Capital Advisors LP purchased a new stake in shares of Primoris Services Corporation (NYSE:PRIM) in the second quarter, HoldingsChannel reports. The institutional investor purchased 25,359 shares of the company’s stock, valued at approximately $2,514,000.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Primoris Services in the 2nd quarter worth $677,685,000. Wellington Management Group LLP boosted its stake in Primoris Services by 163.0% during the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after buying an additional 1,082,218 shares in the last quarter. First Trust Advisors LP grew 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 worth $412,837,000 after acquiring an additional 928,155 shares during the period. Norges Bank acquired a new position in Primoris Services during the fourth quarter worth about $103,368,000. Finally, State Street Corp raised its position in Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after acquiring an additional 728,646 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Primoris Services

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

• Negative Sentiment: The lawsuit alleges that Primoris made material misstatements or omissions about the costs, risks, estimating practices and project controls associated with significant fixed-price renewable-energy projects. Investors who purchased shares between August 5, 2025, and June 22, 2026, may seek lead-plaintiff status by September 21. Primoris Securities Fraud Class Action Lawsuit Filed
• Negative Sentiment: Several notices link the allegations to Primoris’ February 2026 outlook for adjusted EPS and adjusted EBITDA, claiming that known renewable-project cost overruns undermined that guidance. The notices cite a subsequent $23.39-per-share decline on June 23 after the company sharply reduced its outlook. PRIM Upcoming Deadline Notice
• Negative Sentiment: Investor-rights firms also say Primoris’ newly released second-quarter 2026 results and earnings call intensified scrutiny of the company’s renewable-project execution and financial outlook. The litigation creates potential legal costs, reputational damage and uncertainty around the profitability of fixed-price projects. Primoris Q2 Investor Alert
• Neutral Sentiment: The numerous August 19–20 announcements are largely duplicative reminders from different law firms seeking potential clients; they do not establish that Primoris committed wrongdoing. The case remains an allegation, and the September 21 deadline is procedural rather than a judgment against the company. Prim Investor Deadline Announcement

Primoris Services Stock Down 1.1%

Shares of Primoris Services stock opened at $79.03 on Friday. Primoris Services Corporation has a 12-month low of $65.00 and a 12-month high of $205.50. The firm has a market capitalization of $4.25 billion, a PE ratio of 30.99 and a beta of 1.43. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $88.70 and its 200-day moving average is $123.80.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.08. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.Primoris Services’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.68 EPS. Equities analysts anticipate 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. Shareholders of record on Wednesday, September 30th will be issued a $0.08 dividend. 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 dividend payout ratio (DPR) is presently 12.55%.

Insider Activity

In other news, Director David Lee King sold 20,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider 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. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PRIM shares. Weiss Ratings downgraded shares of Primoris Services from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Oppenheimer began coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 price objective on the stock. Roth Capital reiterated a “buy” rating and issued a $100.00 target price on shares of Primoris Services in a report on Monday, July 20th. UBS Group reissued a “neutral” rating on shares of Primoris Services in a research note on Monday, August 10th. Finally, The Goldman Sachs Group upgraded shares of Primoris Services from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $107.00 to $102.00 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.27.

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.