Sei Investments Co. Sells 43,020 Shares of Primoris Services Corporation $PRIM

Key Points

• Sei Investments reduced its Primoris Services stake by 43.1%, selling 43,020 shares and retaining 56,856 shares valued at approximately $8.1 million. Institutional investors still own 91.82% of the company.
• Primoris faces a securities class-action lawsuit alleging investors were misled about project-management capabilities, following cost and execution issues, a guidance reset, and a COO departure.
• The stock opened at $84.26, well below its 52-week high of $205.50, after the company missed quarterly earnings and revenue estimates. Analysts maintain a “Moderate Buy” consensus, though several recently lowered price targets.

Sei Investments Co. trimmed its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,856 shares of the company's stock after selling 43,020 shares during the quarter. Sei Investments Co. owned 0.10% of Primoris Services worth $8,133,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Root Financial Partners LLC increased its stake in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company's stock worth $33,000 after buying an additional 69 shares during the period. Harbour Investments Inc. bought a new stake in Primoris Services during the 4th quarter valued at about $33,000. Salomon & Ludwin LLC purchased a new stake in Primoris Services in the 4th quarter valued at about $44,000. Cullen Frost Bankers Inc. boosted its position in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company's stock valued at $43,000 after buying an additional 81 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new stake in Primoris Services in the 2nd quarter valued at about $34,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Primoris Services

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

• Neutral Sentiment: Several law firms reminded investors that September 21, 2026 is the deadline to seek appointment as lead plaintiff. The proposed class covers investors who purchased Primoris securities from August 5, 2025 through June 22, 2026. Deadline Alert: Primoris Services Corporation Shareholders
• Negative Sentiment: The lawsuit alleges that Primoris and certain current and former executives misled investors about the company’s project-management capabilities. The claims could create legal costs, reputational damage and additional uncertainty regarding prior disclosures. Primoris Faces Securities Class Action
• Negative Sentiment: Investor notices tie the case to persistent project-cost and execution issues, including problems involving six renewable-energy projects and a June 2026 guidance reset. Reports also reference a COO departure, adding to concerns about management and operational stability. Primoris Timeline Disclosure Events
• Negative Sentiment: The legal overhang follows Primoris’s latest reported quarter, in which earnings and revenue missed analyst expectations and revenue declined year over year. The company’s previously issued fiscal 2026 EPS guidance of $4.80–$5.00 remains an important benchmark as investors assess whether project issues are contained.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Primoris Services from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $107.00 to $102.00 in a research report on Thursday, June 25th. Zacks Research lowered Primoris Services from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Wall Street Zen cut Primoris Services from a "hold" rating to a "sell" rating in a research note on Saturday, June 27th. Wolfe Research restated an "outperform" rating and set a $149.00 price objective on shares of Primoris Services in a report on Monday, June 15th. Finally, Cantor Fitzgerald decreased their target price on Primoris Services from $124.00 to $100.00 and set a "neutral" rating for the company in a research report on Thursday, June 25th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $137.47.

Primoris Services Trading Down 0.2%

Shares of NYSE PRIM opened at $84.26 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $4.57 billion, a P/E ratio of 18.56 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 $98.93 and a 200 day moving average price of $130.24.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts expect that Primoris Services Corporation will post 1.87 EPS for the current fiscal year.

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $3,798,337.02. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company 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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