SIR Capital Management L.P. Takes Position in Primoris Services Corporation $PRIM

SIR Capital Management L.P. bought a new position in shares of Primoris Services Corporation (NYSE:PRIM) during the second quarter, HoldingsChannel reports. The fund bought 93,640 shares of the company’s stock, valued at approximately $9,282,000.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Primoris Services during the 2nd quarter worth $26,000. Harbour Investments Inc. purchased a new stake in shares of Primoris Services in the fourth quarter valued at about $33,000. Root Financial Partners LLC raised its holdings in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after buying an additional 69 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in shares of Primoris Services during the second quarter worth about $34,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Primoris Services during the second quarter worth about $36,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of the firm’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 value of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Primoris Services Stock Down 2.5%

Shares of NYSE:PRIM opened at $75.24 on Tuesday. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 29.51 and a beta of 1.43. The firm’s 50-day simple moving average is $87.76 and its 200-day simple moving average is $122.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) 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 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 was down 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.68 earnings per share. As a group, equities research analysts predict that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.08 per share. 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 dividend payout ratio is 12.55%.

Key Primoris Services News

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

• Neutral Sentiment: The announcements largely repeat the same lawsuit details rather than reporting a new company filing or operational development. The proposed class covers investors who purchased Primoris securities from August 5, 2025, through June 22, 2026, with a lead-plaintiff application deadline of September 21, 2026. KSF class action notice
• Negative Sentiment: The complaints allege that Primoris and certain current and former executives made materially false or misleading statements about cost forecasting, project oversight, project-management capabilities, and expected profitability for renewable-energy construction projects. If the claims proceed, investors face potential litigation costs, reputational damage, and added uncertainty regarding historical project results. The allegations have not been proven. Robbins LLP class action reminder
• Negative Sentiment: The concentration of notices from Rosen, Robbins, Kahn Swick & Foti, Hagens Berman, Schall Brown & Schwartz, Levi & Korsinsky, and Kaplan Fox increases the visibility of the legal issue, even though the releases primarily seek investor participation and do not represent separate new lawsuits. Hagens Berman investor alert

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Guggenheim dropped their price target on Primoris Services from $162.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Roth Capital reaffirmed a “buy” rating and set a $100.00 price objective on shares of Primoris Services in a research note on Monday, July 20th. Oppenheimer began coverage on Primoris Services in a research report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price objective for the company. Weiss Ratings downgraded Primoris Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company dropped their target price on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average 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.