40,660 Shares in Primoris Services Corporation $PRIM Bought by CI Investments Inc.

Key Points

• CI Investments Inc. initiated a new position in Primoris Services, buying 40,660 shares valued at about $5.8 million in the first quarter. Institutional ownership remains very high at 91.82%.
• Primoris Services has seen mixed analyst sentiment: J.P. Morgan and Roth Capital issued bullish Buy views, while some firms downgraded the stock and several class action lawsuits have created legal overhang.
• The company recently missed quarterly earnings and revenue estimates, reporting $0.59 EPS on $1.56 billion of revenue, but management kept FY 2026 guidance at 4.8–5.0 EPS. Shares were trading around $90.75, below both the 50-day and 200-day moving averages.

CI Investments Inc. bought a new stake in Primoris Services Corporation (NYSE:PRIM - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 40,660 shares of the company's stock, valued at approximately $5,816,000. CI Investments Inc. owned about 0.07% of Primoris Services at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Primoris Services by 163.0% in the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company's stock valued at $216,774,000 after purchasing an additional 1,082,218 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Primoris Services by 47.4% in the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock worth $412,837,000 after purchasing an additional 928,155 shares during the period. Norges Bank acquired a new position in shares of Primoris Services during the 4th quarter worth about $103,368,000. State Street Corp lifted its position in shares of Primoris Services by 56.8% during the 4th quarter. State Street Corp now owns 2,011,488 shares of the company's stock worth $249,866,000 after purchasing an additional 728,646 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company's stock worth $804,361,000 after purchasing an additional 466,192 shares during the last quarter. Institutional investors own 91.82% of the company's stock.

Primoris Services News Roundup

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

• Positive Sentiment: J.P. Morgan’s bullish rating adds a favorable analyst signal for Primoris Services Corporation (PRIM). Primoris Services (PRIM) Receives a Buy from J.P. Morgan
• Positive Sentiment: Roth Capital reiterated a Buy rating, suggesting some analysts still see upside in PRIM shares. Roth Capital Reiterates Buy Rating for Primoris Services NYSE: PRIM
• Neutral Sentiment: Primoris scheduled its second-quarter 2026 earnings release and conference call for early August, which could be a near-term catalyst if results or guidance surprise investors. Primoris Services Corporation Schedules Second Quarter 2026 Earnings Conference Call and Webcast
• Negative Sentiment: Several law firms announced or publicized class action lawsuits alleging securities-law violations, creating a material legal overhang for PRIM. ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Primoris Services Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action - PRIM

Primoris Services Stock Up 1.4%

PRIM stock opened at $90.75 on Friday. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.92 billion, a PE ratio of 19.99 and a beta of 1.41. The business's 50-day simple moving average is $102.24 and its 200 day simple moving average is $132.23.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.98 EPS. The company's revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts anticipate that Primoris Services Corporation will post 1.87 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued 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 was Tuesday, June 30th. Primoris Services's dividend payout ratio (DPR) is presently 7.05%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen lowered Primoris Services from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. Guggenheim reiterated a "buy" rating and set a $162.00 price target on shares of Primoris Services in a report on Tuesday, June 23rd. UBS Group reduced their price objective on Primoris Services from $212.00 to $186.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Zacks Research downgraded shares of Primoris Services from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 12th. Finally, Wolfe Research restated an "outperform" rating and issued a $149.00 price objective on shares of Primoris Services in a research note on Monday, June 15th. Eleven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $137.47.

Insider Activity

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of Primoris Services 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 of the company's stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director directly 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 SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

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.

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