Grandeur Peak Global Advisors LLC Purchases Shares of 722,440 Primoris Services Corporation $PRIM

Grandeur Peak Global Advisors LLC purchased a new stake in Primoris Services Corporation (NYSE:PRIM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 722,440 shares of the company's stock, valued at approximately $3,482,000. Grandeur Peak Global Advisors LLC owned approximately 1.34% of Primoris Services at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Equitable Holdings Inc. bought a new position in shares of Primoris Services during the second quarter worth about $998,000. Public Employees Retirement System of Ohio bought a new stake in Primoris Services in the 2nd quarter valued at approximately $1,578,000. Corient Private Wealth LP acquired a new position in Primoris Services during the 2nd quarter worth approximately $3,525,000. Bank of America Corp DE acquired a new position in Primoris Services during the 2nd quarter worth approximately $17,268,000. Finally, Freestone Grove Partners LP bought a new position in shares of Primoris Services during the 2nd quarter worth approximately $3,874,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on PRIM. Wells Fargo & Company reduced their target price on shares of Primoris Services from $118.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, June 23rd. Mizuho reduced their price objective on shares of Primoris Services from $135.00 to $117.00 and set an "outperform" rating for the company in a research note on Tuesday, June 23rd. Wall Street Zen cut Primoris Services from a "hold" rating to a "sell" rating in a report on Saturday, June 27th. JPMorgan Chase & Co. raised Primoris Services from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $105.00 to $116.00 in a research report on Monday, June 29th. Finally, UBS Group reiterated a "neutral" rating on shares of Primoris Services in a report on Monday, August 10th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $132.27.

Primoris Services Stock Down 1.5%

Shares of PRIM stock opened at $77.00 on Friday. Primoris Services Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 30.19 and a beta of 1.43. The firm's 50-day moving average is $86.23 and its 200-day moving average is $121.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its earnings results 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. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $1.68 earnings per share. The company's revenue was down 10.7% on a year-over-year basis. Sell-side analysts predict that Primoris Services Corporation will post 1.76 EPS for the current year.

Primoris Services Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services's payout ratio is 12.55%.

Key Primoris Services News

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

• Positive Sentiment: Analyst view improved: Zacks Research upgraded Primoris from “strong sell” to “hold,” which may provide limited support by indicating that the recent decline has reduced some downside concerns. TickerReport coverage of the Zacks upgrade
• Neutral Sentiment: New office development: Primoris Services was reported as a future tenant at Sugar Land Town Square. The expansion may support corporate operations and local visibility, but the announcement is unlikely to materially affect near-term earnings. Primoris Services Corp. to join Sugar Land Town Square
• Negative Sentiment: Class-action litigation remains the main overhang: Several law firms reiterated that investors who purchased PRIM shares from August 5, 2025, through June 22, 2026, may seek lead-plaintiff status by September 21, 2026. The lawsuit alleges that Primoris made material misstatements or omissions about the costs, risks, cost controls, and execution of six fixed-price renewable-energy projects. Allegations reportedly include project cost overruns and delays, with some notices also pointing to statements overseen by former Chief Operating Officer Jeremy Kinch. The claims have not been proven, but the litigation could create legal expenses, financial liabilities, and additional reputational risk. Robbins Geller Primoris investor deadline notice

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source