Primoris Services Corporation $PRIM Shares Sold by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group cut its Primoris Services stake by 52.6% in the second quarter, selling 156,003 shares and retaining 140,812 shares valued at approximately $14.0 million. Institutional investors collectively own 91.82% of PRIM.
• Analysts remain broadly positive, with 11 Buy ratings and six Holds, producing a consensus “Moderate Buy” rating and a $132.27 target price. JPMorgan upgraded the stock to Overweight, while Oppenheimer and Wolfe Research issued Outperform ratings.
• PRIM opened at $72.09, well below its 52-week high of $205.50, after quarterly revenue fell 10.7% year over year to $1.69 billion, despite an adjusted earnings beat. The company also faces ongoing securities-litigation allegations related to renewable-energy project estimates and oversight, while maintaining a quarterly dividend of $0.08.

Alyeska Investment Group L.P. decreased its holdings in Primoris Services Corporation (NYSE:PRIM - Free Report) by 52.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 140,812 shares of the company's stock after selling 156,003 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.26% of Primoris Services worth $13,957,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Primoris Services in the second quarter valued at $677,685,000. Wellington Management Group LLP lifted its position in shares of Primoris Services by 148.7% during 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. First Trust Advisors LP grew its stake in Primoris Services by 47.4% in the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock worth $412,837,000 after purchasing an additional 928,155 shares in the last quarter. State Street Corp grew its stake in Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company's stock worth $249,866,000 after purchasing an additional 728,646 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Primoris Services by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company's stock valued at $164,526,000 after buying an additional 42,052 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRIM shares. Zacks Research upgraded Primoris Services from a "strong sell" rating to a "hold" rating in a report on Monday, August 24th. JPMorgan Chase & Co. raised shares of Primoris Services from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $105.00 to $116.00 in a report on Monday, June 29th. Oppenheimer started coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They set an "outperform" rating and a $135.00 target price for the company. Cantor Fitzgerald boosted their target price 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. Finally, Wolfe Research reissued an "outperform" rating and set a $149.00 target price on shares of Primoris Services in a report on Monday, June 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Primoris Services has an average 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: Primoris appointed energy-industry veterans James A. Greer and Oscar K. Brown to its board, effective October 1, increasing the board to 10 directors. Their experience could strengthen strategic oversight and operational governance, although the appointments are unlikely to immediately affect earnings. Primoris Announces Board Appointments
• Neutral Sentiment: Multiple law firms reminded investors of a September 21, 2026 deadline to seek lead-plaintiff status in a securities class action covering purchases made from August 5, 2025, through June 22, 2026. These notices largely repeat previously reported litigation information rather than announce a new financial charge or settlement. Primoris Securities Lawsuit Deadline Alert
• Negative Sentiment: The lawsuit allegations focus on claims that Primoris made misleading statements or failed to disclose weaknesses involving renewable-energy project estimates, cost forecasts and project oversight. The claims have not been proven, but continued legal attention adds reputational, litigation-cost and potential liability risks, helping explain the selling pressure in PRIM. Levi and Korsinsky Primoris Lawsuit Alert

Primoris Services Stock Performance

PRIM stock opened at $72.09 on Tuesday. Primoris Services Corporation has a 1 year low of $65.00 and a 1 year high of $205.50. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 28.27 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.18 and a current ratio of 1.18. The stock's fifty day moving average is $84.93 and its two-hundred day moving average is $119.87.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.73 billion. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The company's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 EPS. On average, research analysts predict that Primoris Services Corporation will post 1.76 EPS 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 paid a $0.08 dividend. 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 is presently 12.55%.

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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