Union Bancaire Privee UBP SA Boosts Holdings in Primoris Services Corporation $PRIM

Key Points

• Union Bancaire Privee UBP SA increased its Primoris Services stake by 280.3% in the first quarter, bringing its holdings to 29,804 shares worth about $4.26 million. Institutional ownership remains very high at 91.82%.
• Primoris Services reported mixed quarterly results, missing earnings and revenue estimates with EPS of $0.59 versus $0.87 expected and revenue of $1.56 billion versus $1.73 billion expected. The company also set FY 2026 guidance at 4.80-5.00 EPS.
• Analyst sentiment is uneven, with several firms maintaining buy or neutral views, but KeyCorp cut estimates sharply and law firms announced investigations into Primoris, adding pressure amid concerns about renewables project execution issues.

Union Bancaire Privee UBP SA boosted its holdings in Primoris Services Corporation (NYSE:PRIM - Free Report) by 280.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,804 shares of the company's stock after purchasing an additional 21,968 shares during the quarter. Union Bancaire Privee UBP SA owned approximately 0.05% of Primoris Services worth $4,263,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its position in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock worth $43,000 after acquiring an additional 194 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company's stock valued at $28,337,000 after acquiring an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new stake in Primoris Services in the 1st quarter valued at $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company's stock valued at $9,650,000 after acquiring an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in Primoris Services in the 2nd quarter worth $274,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. KeyCorp reissued a "sector weight" rating on shares of Primoris Services in a report on Tuesday, June 23rd. Zacks Research cut Primoris Services from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 12th. Wolfe Research reiterated an "outperform" rating and issued a $149.00 target price on shares of Primoris Services in a research report on Monday, June 15th. Needham & Company LLC dropped their price target on Primoris Services from $205.00 to $188.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Guggenheim restated a "buy" rating and set a $162.00 price target on shares of Primoris Services in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Primoris Services presently has an average rating of "Moderate Buy" and a consensus price target of $144.67.

Insider Buying and Selling

In other Primoris Services news, Director David Lee King sold 20,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares of the company's stock, valued at $1,779,323.69. This represents a 57.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the company's stock in a transaction 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 in the company, valued at $3,525,611.64. This trade represents 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 Price Performance

PRIM stock opened at $93.13 on Friday. The stock has a market cap of $5.05 billion, a PE ratio of 20.51 and a beta of 1.36. Primoris Services Corporation has a 12 month low of $65.00 and a 12 month high of $205.50. The company has a 50-day moving average price of $124.85 and a 200 day moving average price of $137.38. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services Corporation will post 1.91 earnings per share for the current year.

Primoris Services Announces Dividend

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

Key Stories Impacting Primoris Services

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

• Positive Sentiment: Goldman Sachs upgraded Primoris from sell to neutral, suggesting the stock may be less weak than before, even though the firm still trimmed its price target. Goldman’s revised target implies some upside from recent trading levels.
• Neutral Sentiment: Cantor Fitzgerald lowered its price target on Primoris and kept a neutral stance, signaling a more cautious but not outright bearish view from another analyst.
• Neutral Sentiment: AAII published a comparison piece on Primoris versus MYR Group, which appears informational rather than a direct company catalyst. Article Title
• Negative Sentiment: KeyCorp sharply cut earnings estimates for Primoris across Q2, Q3, Q4, and FY2026, reflecting a much weaker outlook for profitability and adding pressure on the stock.
• Negative Sentiment: Pomerantz LLP and Bragar Eagel & Squire both announced investigations into Primoris on behalf of stockholders, which raises the risk of legal overhang and investor concern. Article Title
• Negative Sentiment: Seeking Alpha and PR Newswire reports highlighted worsening execution problems in Primoris’ renewables projects, including additional cost overruns, expanded project issues, and the departure of the COO. These developments reinforce fears that operational problems could keep weighing on earnings and sentiment. Article Title Article Title

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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