Redwood Grove Capital LLC acquired a new stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 62,291 shares of the company's stock, valued at approximately $6,174,000. Primoris Services accounts for 1.6% of Redwood Grove Capital LLC's portfolio, making the stock its 22nd biggest holding. Redwood Grove Capital LLC owned 0.12% of Primoris Services as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Root Financial Partners LLC grew its holdings 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 purchasing an additional 69 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in Primoris Services by 30.1% in the 4th 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 increased its position in shares of Primoris Services by 13.4% during 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 period. CWM LLC raised its stake in shares of Primoris Services by 1.1% during the fourth quarter. CWM LLC now owns 8,970 shares of the company's stock valued at $1,114,000 after acquiring an additional 96 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Primoris Services by 18.6% in the fourth quarter. IFP Advisors Inc now owns 626 shares of the company's stock valued at $78,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 91.82% of the company's stock.
Primoris Services Stock Down 0.4%
Primoris Services stock opened at $74.83 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 29.35 and a beta of 1.43. Primoris Services Corporation has a 1-year low of $65.00 and a 1-year high of $205.50. The business has a fifty day moving average price of $87.19 and a 200-day moving average price of $122.21.
Primoris Services (NYSE:PRIM - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.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 company posted $1.68 EPS. The firm's quarterly revenue was down 10.7% compared to the same quarter last year. Equities research analysts forecast that Primoris Services Corporation will post 1.76 EPS for the current fiscal year.
Primoris Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. The ex-dividend date 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 12.55%.
Insider Activity
In related news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 27,574 shares of the company's stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Primoris Services from $118.00 to $85.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 23rd. Roth Capital restated a "buy" rating and set a $100.00 price target on shares of Primoris Services in a research note on Monday, July 20th. UBS Group reaffirmed a "neutral" rating on shares of Primoris Services in a research note on Monday, August 10th. Needham & Company LLC dropped their target price on shares of Primoris Services from $188.00 to $172.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Finally, Mizuho cut their target price on shares of Primoris Services from $135.00 to $117.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.27.
Read Our Latest Stock Report on PRIM
Key Primoris Services News
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Primoris retains potential recovery upside from its broad infrastructure exposure and record backlog, according to a comparison with Argan. However, the article characterized Argan as having stronger growth, backlog and return on equity. Argan vs. Primoris Services: Which Stock Offers More Growth Potential?
- Neutral Sentiment: The class action covers investors who purchased Primoris securities between August 5, 2025, and June 22, 2026. Eligible investors have until September 21, 2026, to seek appointment as lead plaintiff; the deadline does not determine the lawsuit’s merits or guarantee investor recovery. Robbins Geller Primoris Class Action Alert
- Negative Sentiment: Several law firms—including Pomerantz, Frank R. Cruz, Glancy Prongay, Robbins Geller and others—are promoting the lawsuit, amplifying investor attention and potential reputational, legal and financial risks for Primoris. Pomerantz Primoris Investor Alert
- Negative Sentiment: The complaint alleges Primoris understated costs and failed to promptly recognize deteriorating margins on renewable-energy construction projects, while making misleading statements about cost forecasting, project oversight and profitability. These allegations are unproven, but they raise concerns about project controls and earnings quality. Robbins LLP Primoris Class Action Reminder
Primoris Services Profile
(
Free Report)
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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