Lazard Asset Management LLC Sells 91,992 Shares of Primoris Services Corporation $PRIM

Lazard Asset Management LLC decreased its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 47.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 102,639 shares of the company’s stock after selling 91,992 shares during the period. Lazard Asset Management LLC’s holdings in Primoris Services were worth $14,681,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PRIM. Castleark Management LLC boosted its stake in shares of Primoris Services by 24.1% during the first quarter. Castleark Management LLC now owns 1,390 shares of the company’s stock valued at $199,000 after purchasing an additional 270 shares in the last quarter. Gateway Wealth Partners LLC raised its stake in Primoris Services by 69.4% in the first quarter. Gateway Wealth Partners LLC now owns 3,875 shares of the company’s stock worth $554,000 after buying an additional 1,587 shares in the last quarter. Keebeck Wealth Management raised its stake in Primoris Services by 3.5% in the first quarter. Keebeck Wealth Management now owns 3,710 shares of the company’s stock worth $531,000 after buying an additional 125 shares in the last quarter. Gibbs Wealth Management lifted its holdings in Primoris Services by 26.7% during the first quarter. Gibbs Wealth Management now owns 8,276 shares of the company’s stock worth $1,184,000 after buying an additional 1,744 shares during the period. Finally, CI Investments Inc. purchased a new stake in Primoris Services during the first quarter worth $5,816,000. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

NYSE PRIM opened at $74.81 on Thursday. The firm’s fifty day simple moving average is $100.08 and its two-hundred day simple moving average is $130.91. The firm has a market capitalization of $4.06 billion, a P/E ratio of 16.48 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 12-month low of $65.00 and a 12-month high of $205.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts forecast that Primoris Services Corporation will post 1.87 EPS for the current fiscal year.

Key Headlines Impacting Primoris Services

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

• Negative Sentiment: A securities-fraud lawsuit was filed on behalf of investors who purchased PRIM shares from August 5, 2025, through June 22, 2026. The complaint alleges that Primoris and certain executives made material misstatements or omissions regarding the costs, risks and profitability of significant fixed-price renewable-energy projects. Investors may seek lead-plaintiff status by September 21, 2026. Primoris securities fraud class action lawsuit
• Negative Sentiment: Multiple law firms—including Rosen, Robbins, Kessler Topaz, Hagens Berman and others—are soliciting investors to participate in the case. Although these announcements largely repeat the same allegations, their volume increases attention on potential litigation, governance and reputational risks. Rosen Primoris investor notice
• Negative Sentiment: The allegations center on cost overruns and margin deterioration across six renewable projects, as well as claims that Primoris did not adequately disclose those risks. One investor notice links the controversy to a $23.39-per-share decline after the company sharply reduced its outlook; it also references concerns about project-management capabilities and the departure of the COO. Levi and Korsinsky Primoris alert
• Negative Sentiment: Near-term earnings expectations are also weak: a preview anticipates a year-over-year decline in second-quarter earnings and says Primoris lacks the indicators typically associated with a likely earnings beat. This follows the company’s latest reported quarter, in which EPS and revenue missed consensus estimates. Primoris second-quarter earnings preview

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the sale, the director directly owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John M. Perisich sold 29,707 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

PRIM has been the topic of a number of analyst reports. Cantor Fitzgerald cut their price target on Primoris Services from $124.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. UBS Group dropped their price objective on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Mizuho cut their target price on Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 23rd. 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 investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $137.47.

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.