Swedbank AB Sells 15,000 Shares of Primoris Services Corporation $PRIM

Key Points

• Swedbank AB trimmed its Primoris Services stake by 7.5% in the fourth quarter, selling 15,000 shares and ending with 185,000 shares worth about $23 million.
• Primoris is facing mixed operating signals: its Premier PV subsidiary reported $55 million in backlog, but the company also posted weak Q1 results with $1.56 billion in revenue, an earnings miss, and lower guidance.
• Analysts remain divided on the stock, with Needham still rating it Buy but cutting its target to $188, while Wells Fargo lowered its target to $118 and kept an Equal Weight rating; the consensus view is Moderate Buy with a $160.87 target.

Swedbank AB lessened its stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 185,000 shares of the company's stock after selling 15,000 shares during the period. Swedbank AB owned about 0.34% of Primoris Services worth $22,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in shares of Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Primoris Services during the second quarter valued at approximately $34,000. Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services during the third quarter valued at approximately $37,000. NewEdge Advisors LLC raised its stake in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock valued at $43,000 after acquiring an additional 194 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in Primoris Services by 163.1% during the third quarter. Richardson Financial Services Inc. now owns 321 shares of the company's stock valued at $44,000 after buying an additional 199 shares during the period. Institutional investors own 91.82% of the company's stock.

Key Stories Impacting Primoris Services

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

• Positive Sentiment: Premier PV, a Primoris Services subsidiary, said it reached $55 million in backlog, signaling continued project demand and potential future revenue. Article: Premier PV, a Primoris Services Corporation Company, Reaches $55 Million in Backlog
• Neutral Sentiment: Needham lowered its price target on Primoris from $205 to $188 but kept a Buy rating, suggesting analysts still see meaningful upside despite recent weakness.
• Neutral Sentiment: Wells Fargo cut its price target from $168 to $118 and maintained an Equal Weight rating, reflecting a more cautious near-term view while still implying some upside from current levels.
• Neutral Sentiment: Recent commentary on valuation after weak Q1 results and lower profit guidance highlights that the stock may now be trading on reduced expectations rather than growth momentum. Article: A Look At Primoris Services (PRIM) Valuation After Weak Q1 2026 Results And Lower Profit Guidance
• Negative Sentiment: Primoris reported Q1 revenue of $1.6 billion, which was down year over year, and the company’s earnings miss plus lowered guidance prompted a sharp re-rating of the stock. Article: Primoris Services Corporation Q1 2026 Earnings Call Summary
• Negative Sentiment: Multiple law firms announced investigations into possible securities-law violations at Primoris, adding an overhang that can pressure investor sentiment. Article: INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Primoris Services Corporation - PRIM Article: Primoris Services Corp. Investigated for Securities Fraud; Investors Should Contact Block & Leviton to Possibly Recover Losses

Primoris Services Trading Down 2.6%

NYSE PRIM opened at $105.19 on Friday. The business has a fifty day moving average price of $150.65. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 12-month low of $67.15 and a 12-month high of $205.50. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 23.17 and a beta of 1.50.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly 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). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.98 earnings per share. Primoris Services's revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, sell-side analysts predict that Primoris Services Corporation will post 5.73 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services's payout ratio is currently 7.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRIM. Needham & Company LLC reduced their price objective on shares of Primoris Services from $205.00 to $188.00 and set a "buy" rating for the company in a research note on Friday. Wells Fargo & Company reduced their price objective on shares of Primoris Services from $168.00 to $118.00 and set an "equal weight" rating for the company in a research note on Friday. The Goldman Sachs Group boosted their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a "sell" rating in a research note on Wednesday, January 28th. JPMorgan Chase & Co. boosted their price objective on shares of Primoris Services from $165.00 to $171.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Finally, DA Davidson set a $180.00 price objective on shares of Primoris Services in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Primoris Services has a consensus rating of "Moderate Buy" and a consensus target price of $160.87.

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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