Hsbc Holdings PLC Sells 18,885 Shares of Primoris Services Corporation $PRIM

Key Points

• HSBC Holdings cut its Primoris Services stake by 89.7% in the second quarter, selling 18,885 shares and retaining 2,162 shares worth approximately $214,000. Institutional investors 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’ $0.35 estimate. The company also declared a quarterly dividend of $0.08 per share, representing a 0.4% yield.
• PRIM recently traded at $76.75, while analysts’ average price target is $129.62 and the consensus rating is Moderate Buy. However, the company faces securities litigation allegations related to project estimating and oversight, which could weigh on investor confidence.

Hsbc Holdings PLC trimmed its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 89.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,162 shares of the company's stock after selling 18,885 shares during the quarter. Hsbc Holdings PLC's holdings in Primoris Services were worth $214,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in Primoris Services by 148.7% in the second quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company's stock worth $463,434,000 after purchasing an additional 2,795,887 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Primoris Services during the 2nd quarter valued at $144,000. Fox Hill Wealth Management purchased a new stake in shares of Primoris Services during the 2nd quarter valued at $479,000. Grandeur Peak Global Advisors LLC bought a new stake in shares of Primoris Services during the 2nd quarter worth $3,482,000. Finally, Equitable Holdings Inc. bought a new stake in shares of Primoris Services during the 2nd quarter worth $998,000. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Trading Down 0.2%

PRIM stock opened at $76.75 on Friday. Primoris Services Corporation has a one year low of $65.00 and a one year high of $205.50. The company has a market capitalization of $4.13 billion, a PE ratio of 30.10 and a beta of 1.43. The company's 50 day moving average price is $80.61 and its two-hundred day moving average price is $111.98. 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 issued its earnings results on Tuesday, August 4th. The company reported ($0.27) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.08. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The company had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter last year, the company earned $1.68 EPS. The firm's revenue was down 10.7% compared to the same quarter last year. As a group, analysts predict that Primoris Services Corporation will post 1.78 earnings per share for the current fiscal 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 given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services's dividend payout ratio (DPR) is presently 12.55%.

More Primoris Services News

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

• Neutral Sentiment: An analyst commentary titled “Looking Beyond the 2026 Earnings Trough” suggests investor focus may be shifting toward Primoris’ potential earnings recovery after a difficult 2026, though the available report details do not provide specific estimates or catalysts. Primoris: Looking Beyond the 2026 Earnings Trough
• Negative Sentiment: Several firms, including Kaplan Fox, Pomerantz, Rosen, Levi & Korsinsky, and Kahn Swick & Foti, reiterated that a securities class action has been filed against Primoris. The case covers investors who purchased shares from August 5, 2025, through June 22, 2026, with September 21, 2026 set as the lead-plaintiff application deadline. Kaplan Fox Announces a Securities Class Action Against Primoris
• Negative Sentiment: The lawsuit reportedly alleges failures involving estimating, cost-to-complete forecasting, and project oversight on Primoris renewable-energy projects. These are allegations, not proven findings, but the litigation could increase legal costs, create potential financial liability, and weigh on investor confidence. Levi & Korsinsky Primoris Shareholder Alert

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Oppenheimer began coverage on shares of Primoris Services in a report on Tuesday, July 7th. They set an "outperform" rating and a $135.00 price objective for the company. 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 research report on Tuesday, June 23rd. UBS Group restated a "neutral" rating on shares of Primoris Services in a research note on Monday, August 10th. Piper Sandler initiated coverage on shares of Primoris Services in a report on Wednesday, September 9th. They issued a "neutral" rating and a $90.00 price target on the stock. Finally, KeyCorp restated a "sector weight" rating on shares of Primoris Services in a research note on Tuesday, June 23rd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $129.62.

Primoris Services Profile

Primoris Services Corporation is a specialty contractor and infrastructure services company that provides construction, engineering, maintenance, and technical services across North America. The company serves utilities, energy producers, industrial customers, municipalities, and renewable energy developers.

Primoris operates through three primary business areas: Utilities, Energy, and Renewables. Its services include the construction, repair, replacement, and maintenance of electric transmission and distribution systems, natural gas and other utility infrastructure, communications networks, water and wastewater facilities, pipelines, power-generation assets, and industrial facilities.

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