Primoris Services Corporation $PRIM Shares Bought by Hennessy Advisors Inc.

Hennessy Advisors Inc. grew its stake in shares of Primoris Services Corporation (NYSE:PRIM) by 23.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 384,500 shares of the company’s stock after purchasing an additional 71,800 shares during the quarter. Primoris Services makes up 1.2% of Hennessy Advisors Inc.’s portfolio, making the stock its 17th largest holding. Hennessy Advisors Inc.’s holdings in Primoris Services were worth $38,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sheets Smith Wealth Management acquired a new position in shares of Primoris Services during the second quarter valued at $619,000. Penn Capital Management Company LLC bought a new position in shares of Primoris Services during the second quarter worth about $13,789,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Primoris Services by 29.1% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,516 shares of the company’s stock worth $16,902,000 after acquiring an additional 38,478 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Primoris Services in the 2nd quarter worth about $8,223,000. Finally, Nissay Asset Management Corp Japan bought a new stake in Primoris Services in the 2nd quarter valued at about $1,740,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Trading Down 5.2%

Shares of NYSE:PRIM opened at $73.02 on Friday. The company has a 50 day moving average of $85.66 and a 200-day moving average of $120.79. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. The firm has a market cap of $3.93 billion, a P/E ratio of 28.64 and a beta of 1.43. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50.

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

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 of this dividend is Wednesday, September 30th. Primoris Services’s payout ratio is currently 12.55%.

Primoris Services News Roundup

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

• Positive Sentiment: Brokerages maintain an overall “Moderate Buy” rating for Primoris, suggesting analysts remain broadly constructive despite the recent legal overhang. Primoris Services Corporation Receives Average Recommendation of Moderate Buy from Brokerages
• Neutral Sentiment: Multiple law firms reminded investors that September 21, 2026, is the deadline to seek appointment as lead plaintiff in a securities class action covering purchases of PRIM shares from August 5, 2025, through June 22, 2026. These announcements primarily solicit potential plaintiffs and do not establish liability. Kaplan Fox Securities Class Action Deadline Notice
• Negative Sentiment: The litigation-related notices allege that Primoris and certain executives made misleading statements or failed to disclose problems involving six renewable-energy projects, including cost overruns and delays. If the case advances, potential financial costs, reputational damage and increased scrutiny could weigh on investor sentiment. SueWallSt Primoris Class Action Notice
• Negative Sentiment: The unusually high number of competing law-firm announcements from August 27–28 keeps the lawsuit in the news and may amplify concerns about Primoris’ project execution, earnings visibility and possible legal exposure. Bragar Eagel and Squire Primoris Investor Notice

Wall Street Analysts Forecast Growth

Several research firms have commented on PRIM. Wall Street Zen cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Zacks Research raised Primoris Services from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Cantor Fitzgerald boosted their price objective on Primoris Services from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Oppenheimer initiated coverage on Primoris Services in a report on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 price objective for the company. Finally, Wolfe Research restated an “outperform” rating and issued a $149.00 target price on shares of Primoris Services in a research report on Monday, June 15th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average 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.