BlackRock Inc. Acquires New Position in Primoris Services Corporation $PRIM

Key Points

• BlackRock acquired 6.84 million Primoris Services shares worth approximately $677.7 million, giving it a 12.6% stake. Institutional investors collectively own 91.82% of PRIM.
• Analysts maintain a generally positive outlook, with 11 Buy, five Hold, and one Sell rating; the consensus is “Moderate Buy” with a $132.27 price target. However, several firms recently lowered their targets.
• PRIM faces significant risks after reporting weaker revenue and amid securities-fraud litigation allegations tied to renewable-energy project costs and reduced guidance. Shares opened at $77.17, far below their 52-week high of $205.50.

BlackRock Inc. acquired a new stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,837,017 shares of the company's stock, valued at approximately $677,685,000. BlackRock Inc. owned approximately 12.60% of Primoris Services as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PRIM. Deutsche Bank AG acquired a new stake in shares of Primoris Services during the 2nd quarter valued at approximately $842,000. Persistent Asset Partners Ltd bought a new stake in Primoris Services during the second quarter valued at $36,000. Horizon Investment Services LLC acquired a new stake in shares of Primoris Services during the second quarter worth $270,000. Global Retirement Partners LLC acquired a new stake in shares of Primoris Services during the second quarter worth $26,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Primoris Services during the second quarter worth $31,972,000. Institutional investors own 91.82% of the company's stock.

Insider Buying and Selling

In other news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director owned 14,941 shares of the company's stock, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company's stock, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on PRIM. KeyCorp reaffirmed a "sector weight" rating on shares of Primoris Services in a report on Tuesday, June 23rd. Wall Street Zen lowered shares of Primoris Services from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Roth Capital reissued a "buy" rating and issued a $100.00 target price on shares of Primoris Services in a report on Monday, July 20th. Needham & Company LLC decreased their target price on Primoris Services from $188.00 to $172.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Finally, Mizuho lowered their target price on Primoris Services from $135.00 to $117.00 and set an "outperform" rating for the company in a report on Tuesday, June 23rd. Eleven equities research 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. According to MarketBeat, Primoris Services has a consensus rating of "Moderate Buy" and a consensus target price of $132.27.

Trending Headlines about Primoris Services

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

• Neutral Sentiment: Several law firms are notifying shareholders who purchased Primoris securities between August 5, 2025, and June 22, 2026, about the lawsuit and the opportunity to apply to lead the case. The notices are largely investor-solicitation announcements and do not represent separate lawsuits or new company disclosures. Kaplan Fox class-action deadline notice
• Negative Sentiment: The complaint alleges that Primoris made material misstatements or omissions regarding the costs and risks of significant fixed-price renewable-energy projects. Investors are also citing alleged project cost overruns that undermined the company’s February 2026 adjusted EPS and adjusted EBITDA outlook. Primoris securities-fraud lawsuit summary
• Negative Sentiment: The lawsuit materials point to a reported $23.39-per-share decline on June 23, 2026, after Primoris sharply reduced guidance. The allegations remain unproven, but the litigation creates potential legal costs, financial liability, and reputational risk for Primoris Services Corporation (PRIM).

Primoris Services Stock Performance

Shares of PRIM opened at $77.17 on Monday. Primoris Services Corporation has a 1 year low of $65.00 and a 1 year high of $205.50. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 30.26 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a fifty day moving average of $88.27 and a 200-day moving average of $123.27.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) earnings per share 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 analysts' expectations of $1.73 billion. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. As a group, equities analysts anticipate that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Primoris Services's dividend payout ratio (DPR) is presently 12.55%.

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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