Nissay Asset Management Corp Japan Buys Shares of 17,553 Primoris Services Corporation $PRIM

Key Points

• Nissay Asset Management purchased 17,553 Primoris Services shares worth approximately $1.74 million in the second quarter. Institutional investors collectively own 91.82% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $132.27 price target, although individual views range from “Sell” to “Outperform.”
• Primoris reported quarterly revenue of $1.69 billion, down 10.7% year over year, while its adjusted loss of $0.27 per share was better than expected. The company declared a quarterly dividend of $0.08, and it is facing investor scrutiny over alleged cost-estimation and renewable-project oversight issues in a proposed class action.

Nissay Asset Management Corp Japan bought a new stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 17,553 shares of the company's stock, valued at approximately $1,740,000.

Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC increased its position in Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company's stock valued at $33,000 after buying an additional 69 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company's stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Covestor Ltd grew its stake in shares of Primoris Services by 13.4% in the fourth quarter. Covestor Ltd now owns 719 shares of the company's stock worth $89,000 after acquiring an additional 85 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Primoris Services by 18.6% in the fourth quarter. IFP Advisors Inc now owns 626 shares of the company's stock worth $78,000 after acquiring an additional 98 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its holdings in shares of Primoris Services by 2.5% during the fourth quarter. TD Private Client Wealth LLC now owns 4,183 shares of the company's stock valued at $519,000 after acquiring an additional 101 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PRIM shares. Wolfe Research reiterated an "outperform" rating and issued a $149.00 price target on shares of Primoris Services in a research note on Monday, June 15th. Wall Street Zen lowered shares of Primoris Services from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. UBS Group reaffirmed a "neutral" rating on shares of Primoris Services in a report on Monday, August 10th. Cantor Fitzgerald upped their target price on shares of Primoris Services from $100.00 to $105.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Finally, Zacks Research upgraded shares of Primoris Services from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Eleven investment 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.27.

Primoris Services Stock Up 0.0%

PRIM opened at $72.14 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $84.68 and a 200-day moving average price of $119.22. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. The stock has a market capitalization 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, topping the consensus estimate 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 posted $1.68 earnings per share. The firm's quarterly revenue was down 10.7% on a year-over-year basis. Equities research analysts forecast that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services's dividend payout ratio (DPR) is 12.55%.

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 Company 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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