Primoris Services Corporation $PRIM Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its Primoris Services position by 4.4% in the first quarter, owning 324,887 shares worth approximately $46.5 million. Institutional investors collectively own 91.82% of PRIM.
• Primoris reported a quarterly loss of $0.27 per share, beating expectations for a $0.35 loss, but revenue fell 10.7% year over year to $1.69 billion and missed estimates. The stock has traded between $65.00 and $205.50 over the past year.
• Analysts maintain a consensus “Moderate Buy” rating with a $132.27 target price, while the company declared a quarterly dividend of $0.08 per share, representing a 0.4% yield.

Bank of America Corp DE lifted its position in Primoris Services Corporation (NYSE:PRIM - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 324,887 shares of the company's stock after buying an additional 13,617 shares during the quarter. Bank of America Corp DE owned approximately 0.60% of Primoris Services worth $46,472,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PRIM. Wellington Management Group LLP increased its holdings in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company's stock worth $216,774,000 after purchasing an additional 1,082,218 shares during the period. First Trust Advisors LP raised its position in Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock valued at $412,837,000 after purchasing an additional 928,155 shares in the last quarter. Norges Bank purchased a new position in shares of Primoris Services in the 4th quarter valued at about $103,368,000. State Street Corp boosted its stake in shares of Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company's stock valued at $249,866,000 after buying an additional 728,646 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company's stock worth $804,361,000 after buying an additional 466,192 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company's stock.

Primoris Services Price Performance

PRIM stock opened at $81.47 on Thursday. The business has a 50 day moving average price of $92.29 and a 200 day moving average price of $126.72. 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 stock has a market cap of $4.39 billion, a price-to-earnings ratio of 31.95 and a beta of 1.43. Primoris Services Corporation has a fifty-two week low of $65.00 and a fifty-two week high of $205.50.

Primoris Services (NYSE:PRIM - Get Free Report) last announced its quarterly 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 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 analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The firm's revenue was down 10.7% on a year-over-year basis. Equities research analysts anticipate that Primoris Services Corporation will post 1.76 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Primoris Services's dividend payout ratio (DPR) is presently 12.55%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Primoris Services from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. 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. Oppenheimer initiated coverage on shares of Primoris Services in a report on Tuesday, July 7th. They set an "outperform" rating and a $135.00 price target for the company. Guggenheim dropped their price objective on shares of Primoris Services from $162.00 to $127.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Primoris Services from $118.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 23rd. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.27.

Primoris Services News Roundup

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

• Positive Sentiment: UBS maintained a Buy rating on Primoris while lowering its price target to $138, suggesting the firm still sees substantial long-term upside despite recent concerns. UBS Group Lowers Primoris Services Price Target
• Neutral Sentiment: Multiple law firms publicized the same securities class action and a September 21, 2026 lead-plaintiff application deadline. The lawsuit covers investors who acquired PRIM securities from August 5, 2025, through June 22, 2026; these announcements primarily increase visibility around existing litigation rather than represent separate lawsuits. Robbins LLP Class Action Notice
• Negative Sentiment: The litigation alleges Primoris misled investors about project-management capabilities, cost forecasts, oversight and expected profitability at certain renewable-energy projects. One notice alleges disclosures related to six projects contributed to a $23.39-per-share decline. If the claims proceed, Primoris could face legal costs, damages and further reputational pressure. Levi and Korsinsky Primoris Investor Notice
• Negative Sentiment: Short interest jumped 50.2% in the second half of July to 4.49 million shares, representing 8.4% of shares outstanding and 3.1 days of average trading volume. The increase indicates stronger bearish positioning and may amplify volatility.
• Negative Sentiment: Recent operating results remain a headwind. Primoris reported a quarterly loss of $0.27 per share, although it exceeded the expected loss of $0.35. Revenue of $1.69 billion missed estimates and declined 10.7% year over year, while the company’s roughly 1.9% net margin highlights limited profitability.

Insider Transactions 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 stock was 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 in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Perisich sold 29,707 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares of the company's stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

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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