Algert Global LLC Has $13.11 Million Stock Holdings in Primoris Services Corporation $PRIM

Key Points

• Algert Global cut its Primoris Services stake by 48.6% in the second quarter, selling 125,026 shares and retaining 132,239 shares valued at approximately $13.11 million. Institutional investors and hedge funds collectively own 91.82% of the company.
• Primoris reported quarterly revenue of $1.69 billion, down 10.7% year over year, but its adjusted loss of $0.27 per share was better than analysts’ expected loss of $0.35. The company declared a quarterly dividend of $0.08 per share, yielding about 0.4%.
• The stock opened at $74.83, well below its 52-week high of $205.50, while analysts maintained a consensus “Moderate Buy” rating with a $132.27 target price. However, the company faces investor lawsuits alleging cost understatements and delayed recognition of weakening renewable-energy project margins.

Algert Global LLC decreased its stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 48.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 132,239 shares of the company's stock after selling 125,026 shares during the period. Algert Global LLC owned 0.25% of Primoris Services worth $13,108,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRIM. BlackRock Inc. acquired a new stake in shares of Primoris Services during the 2nd quarter worth $677,685,000. Vanguard Group Inc. grew its holdings 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 valued at $804,361,000 after purchasing an additional 466,192 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of 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 buying an additional 928,155 shares in the last quarter. State Street Corp increased its holdings in Primoris Services by 56.8% in 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 in the last quarter. Finally, Wellington Management Group LLP increased its stake 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 buying an additional 1,082,218 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the stock in a transaction 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 $3,525,611.64. This represents a 51.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Primoris Services Stock Down 0.4%

Primoris Services stock opened at $74.83 on Wednesday. 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 capitalization of $4.03 billion, a price-to-earnings ratio of 29.35 and a beta of 1.43. Primoris Services Corporation has a 1-year low of $65.00 and a 1-year high of $205.50. The firm has a 50 day simple moving average of $87.19 and a 200 day simple moving average of $122.21.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.08. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the company posted $1.68 EPS. The business's revenue for the quarter was down 10.7% compared to the same quarter last year. On average, analysts predict that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Announces Dividend

The business 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 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 (DPR) is 12.55%.

Primoris Services News Roundup

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

• Positive Sentiment: Primoris retains potential recovery upside from its broad infrastructure exposure and record backlog, according to a comparison with Argan. However, the article characterized Argan as having stronger growth, backlog and return on equity. Argan vs. Primoris Services: Which Stock Offers More Growth Potential?
• Neutral Sentiment: The class action covers investors who purchased Primoris securities between August 5, 2025, and June 22, 2026. Eligible investors have until September 21, 2026, to seek appointment as lead plaintiff; the deadline does not determine the lawsuit’s merits or guarantee investor recovery. Robbins Geller Primoris Class Action Alert
• Negative Sentiment: Several law firms—including Pomerantz, Frank R. Cruz, Glancy Prongay, Robbins Geller and others—are promoting the lawsuit, amplifying investor attention and potential reputational, legal and financial risks for Primoris. Pomerantz Primoris Investor Alert
• Negative Sentiment: The complaint alleges Primoris understated costs and failed to promptly recognize deteriorating margins on renewable-energy construction projects, while making misleading statements about cost forecasting, project oversight and profitability. These allegations are unproven, but they raise concerns about project controls and earnings quality. Robbins LLP Primoris Class Action Reminder

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PRIM. Roth Capital reaffirmed a "buy" rating and set a $100.00 target price on shares of Primoris Services in a research report on Monday, July 20th. UBS Group reaffirmed a "neutral" rating on shares of Primoris Services in a research note on Monday, August 10th. Needham & Company LLC lowered their target price on Primoris Services from $188.00 to $172.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Cantor Fitzgerald upped their target price on shares of Primoris Services from $100.00 to $105.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Primoris Services from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Primoris Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.27.

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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