Primoris Services Corporation $PRIM Shares Acquired by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors increased its Primoris Services stake by 23% in the second quarter, purchasing 71,800 additional shares to hold 384,500 shares valued at approximately $38.1 million. Institutional investors collectively own 91.82% of the company.
• Primoris reported a quarterly loss of $0.27 per share, beating estimates for a $0.35 loss, while revenue fell 10.7% year over year to $1.69 billion. The company also declared a quarterly dividend of $0.08, representing a 0.4% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $132.27, compared with the stock’s recent price of $73.02. However, proposed securities litigation alleging problems with renewable-energy projects remains a source of legal and reputational risk.

Hennessy Advisors Inc. boosted its position in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 23.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 384,500 shares of the company's stock after purchasing an additional 71,800 shares during the period. Primoris Services makes up 1.2% of Hennessy Advisors Inc.'s portfolio, making the stock its 17th biggest position. Hennessy Advisors Inc. owned 0.71% of Primoris Services worth $38,112,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Primoris Services in the 2nd quarter valued at about $26,000. Harbour Investments Inc. purchased a new stake in shares of Primoris Services during the fourth quarter worth about $33,000. Root Financial Partners LLC lifted its stake in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company's stock worth $33,000 after acquiring an additional 69 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in shares of Primoris Services in the second quarter worth about $34,000. Finally, Persistent Asset Partners Ltd purchased a new position in Primoris Services in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $73.02 on Friday. Primoris Services Corporation has a twelve month low of $65.00 and a twelve month high of $205.50. 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 company has a market capitalization of $3.93 billion, a price-to-earnings ratio of 28.64 and a beta of 1.43. The business has a 50 day simple moving average of $85.66 and a 200-day simple moving average of $120.79.

Primoris Services (NYSE:PRIM - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The firm's revenue for the quarter was down 10.7% on a year-over-year basis. During the same period last year, the business posted $1.68 earnings per share. As a group, equities research analysts expect that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given 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 presently 12.55%.

Primoris Services News Summary

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

• Positive Sentiment: Brokerages maintain an overall “Moderate Buy” rating for Primoris, suggesting analysts remain broadly constructive despite the recent legal overhang. Primoris Services Corporation Receives Average Recommendation of Moderate Buy from Brokerages
• Neutral Sentiment: Multiple law firms reminded investors that September 21, 2026, is the deadline to seek appointment as lead plaintiff in a securities class action covering purchases of PRIM shares from August 5, 2025, through June 22, 2026. These announcements primarily solicit potential plaintiffs and do not establish liability. Kaplan Fox Securities Class Action Deadline Notice
• Negative Sentiment: The litigation-related notices allege that Primoris and certain executives made misleading statements or failed to disclose problems involving six renewable-energy projects, including cost overruns and delays. If the case advances, potential financial costs, reputational damage and increased scrutiny could weigh on investor sentiment. SueWallSt Primoris Class Action Notice
• Negative Sentiment: The unusually high number of competing law-firm announcements from August 27–28 keeps the lawsuit in the news and may amplify concerns about Primoris’ project execution, earnings visibility and possible legal exposure. Bragar Eagel and Squire Primoris Investor Notice

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Roth Capital restated a "buy" rating and set a $100.00 price objective on shares of Primoris Services in a report on Monday, July 20th. KeyCorp reissued a "sector weight" rating on shares of Primoris Services in a research report on Tuesday, June 23rd. The Goldman Sachs Group upgraded shares of Primoris Services from a "sell" rating to a "neutral" rating and dropped their price target for the stock from $107.00 to $102.00 in a research note on Thursday, June 25th. Zacks Research raised shares of Primoris Services from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. Finally, Cantor Fitzgerald increased their price objective on shares of Primoris Services from $100.00 to $105.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.27.

About Primoris Services

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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