California State Teachers Retirement System Boosts Stock Holdings in Primoris Services Corporation $PRIM

Key Points

• California State Teachers Retirement System increased its Primoris Services stake by 22.4% in the first quarter, bringing its holdings to 62,780 shares valued at approximately $8.98 million. Institutional investors collectively own 91.82% of the company.
• Primoris reported quarterly revenue of $1.69 billion, down 10.7% year over year, while adjusted EPS of $0.27 exceeded analyst expectations. The company maintained its dividend at $0.08 per share quarterly, equivalent to a 0.4% yield.
• Analysts maintain a consensus “Moderate Buy” rating with a $137.47 price target, but the company faces concerns over renewable-energy project margins, insider share sales, and securities-fraud litigation allegations.

California State Teachers Retirement System grew its position in Primoris Services Corporation (NYSE:PRIM - Free Report) by 22.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,780 shares of the company's stock after purchasing an additional 11,485 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Primoris Services worth $8,980,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Primoris Services by 79.7% during the first quarter. Royal Bank of Canada now owns 55,614 shares of the company's stock worth $7,955,000 after buying an additional 24,672 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Primoris Services by 20.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 33,073 shares of the company's stock worth $4,731,000 after buying an additional 5,572 shares in the last quarter. Quantinno Capital Management LP boosted its position in Primoris Services by 48.1% during the first quarter. Quantinno Capital Management LP now owns 15,153 shares of the company's stock worth $2,168,000 after acquiring an additional 4,919 shares during the last quarter. Castleark Management LLC grew its holdings in Primoris Services by 24.1% in 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 during the period. Finally, Gateway Wealth Partners LLC raised its stake in shares of Primoris Services by 69.4% in the 1st quarter. Gateway Wealth Partners LLC now owns 3,875 shares of the company's stock valued at $554,000 after acquiring an additional 1,587 shares during the period. Hedge funds and other institutional investors own 91.82% of the company's stock.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $90.90 on Wednesday. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The stock has a market capitalization of $4.93 billion, a PE ratio of 20.02 and a beta of 1.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The business has a fifty day moving average price of $97.56 and a two-hundred day moving average price of $129.56.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company earned $1.68 earnings per share. The business's quarterly revenue was down 10.7% on a year-over-year basis. As a group, equities analysts predict that Primoris Services Corporation will post 1.87 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Primoris Services's dividend payout ratio (DPR) is currently 7.05%.

More Primoris Services News

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

• Positive Sentiment: Primoris reported a record $13.9 billion backlog as of June 30, including $8.2 billion of master service agreement backlog. Management maintained its 2026 earnings outlook of $1.30–$1.85 per diluted share, while the quarterly loss per share was narrower than analysts expected. The company also declared its regular $0.08-per-share dividend. Primoris Reports Second-Quarter Results
• Neutral Sentiment: Analysts continued to characterize Primoris as a “Moderate Buy,” although the available report provides no major change to ratings or price targets. Primoris Receives Moderate Buy Recommendation
• Negative Sentiment: Second-quarter results showed significant deterioration: revenue fell 10.7% year over year to $1.688 billion, and Primoris posted a reported net loss of roughly $24 million, compared with a profit in the prior-year quarter. Energy revenue declined 19.2%, and the company cited margin pressure from renewable-energy projects. These results reinforce concerns about execution and profitability despite the large backlog. Primoris Earnings Results
• Negative Sentiment: Multiple law firms publicized a securities-fraud class action covering investors who purchased PRIM shares from August 5, 2025, through June 22, 2026. The allegations claim Primoris and certain executives made misleading statements about cost forecasting, project controls, project-management capabilities, and risks associated with fixed-price renewable projects. The allegations have not been proven, but the litigation adds legal, reputational, and potential financial risks. Investors have until September 21, 2026, to seek lead-plaintiff status. Primoris Securities-Fraud Lawsuit Notice

Insider Activity at Primoris Services

In other news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction dated Tuesday, May 26th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated 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 transaction, the insider directly owned 27,574 shares of the company's stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Guggenheim reiterated a "buy" rating and issued a $162.00 price objective on shares of Primoris Services in a research report on Tuesday, June 23rd. Roth Capital reissued a "buy" rating and set a $100.00 price objective on shares of Primoris Services in a research 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 report on Monday, July 13th. Wells Fargo & Company decreased their target price on Primoris Services from $118.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. upgraded Primoris Services from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $105.00 to $116.00 in a research report on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Primoris Services presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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