Corient Private Wealth LP Invests $3.52 Million in Primoris Services Corporation $PRIM

Key Points

• Corient Private Wealth LP acquired 35,560 Primoris Services shares worth approximately $3.52 million, while institutional ownership reached 91.82% after several other investors initiated positions.
• Primoris reported quarterly revenue of $1.69 billion, down 10.7% year over year, but its adjusted loss of $0.27 per share beat analyst expectations. The company declared a quarterly dividend of $0.08 per share, yielding about 0.4%.
• The stock opened at $72.14, well below its 52-week high of $205.50. Analysts maintain a “Moderate Buy” consensus with a $132.27 average price target, although investor alerts cite a proposed securities class action concerning renewable-energy project cost estimates and guidance reductions.

Corient Private Wealth LP bought a new stake in Primoris Services Corporation (NYSE:PRIM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,560 shares of the company's stock, valued at approximately $3,525,000. Corient Private Wealth LP owned about 0.07% of Primoris Services at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in Primoris Services during the second quarter worth about $17,268,000. Freestone Grove Partners LP purchased a new stake in Primoris Services in the 2nd quarter valued at about $3,874,000. Jupiter Topco LLC bought a new position in shares of Primoris Services during the 2nd quarter worth approximately $3,685,000. Hsbc Holdings PLC bought a new position in shares of Primoris Services during the 2nd quarter worth approximately $214,000. Finally, Redwood Grove Capital LLC purchased a new position in shares of Primoris Services in the 2nd quarter worth approximately $6,174,000. 91.82% of the stock is owned by institutional investors.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $72.14 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 stock has a fifty day simple moving average of $84.68 and a two-hundred day simple moving average of $119.22. Primoris Services Corporation has a 1-year low of $65.00 and a 1-year high of $205.50. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 28.29 and a beta of 1.44.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $1.68 earnings per share. The business's revenue was down 10.7% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services's payout ratio is currently 12.55%.

Wall Street Analysts Forecast Growth

PRIM has been the subject of several recent analyst reports. Cantor Fitzgerald upped their target price on Primoris Services from $100.00 to $105.00 and gave the company a "neutral" rating in a report on Monday, August 10th. UBS Group reissued a "neutral" rating on shares of Primoris Services in a research report on Monday, August 10th. KeyCorp restated a "sector weight" rating on shares of Primoris Services in a research note on Tuesday, June 23rd. 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. Finally, Wells Fargo & Company lowered their target price on Primoris Services from $118.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 23rd. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.27.

More Primoris Services News

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

• Positive Sentiment: Primoris announced the appointment of James A. Greer and Oscar K. Brown to its board, effective October 1. The additions expand the board to 10 members and bring experienced energy-industry leadership, potentially strengthening oversight and governance. Primoris board appointments
• Neutral Sentiment: Several law firms issued substantially similar notices about the same securities class action, creating a September 21, 2026 deadline for investors to seek appointment as lead plaintiff. The repeated announcements do not represent separate confirmed lawsuits, but they increase the issue’s visibility. Primoris investor deadline notice
• Negative Sentiment: The class action alleges that Primoris failed to accurately estimate costs, forecast costs to complete, and oversee renewable-energy projects. The investor alerts link these alleged issues to repeated project-cost disclosures and a sharp reduction in guidance, including a reported $23.39 per-share decline. If the claims proceed, Primoris could face legal expenses, potential damages, and further scrutiny of project execution and internal controls. Primoris shareholder class action alert

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.

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