William Blair Investment Management LLC Takes $39.65 Million Position in Primoris Services Corporation $PRIM

Key Points

• William Blair Investment Management acquired 399,966 Primoris Services shares worth approximately $39.65 million, representing about 0.74% of the company. Institutional investors collectively own 91.82% of PRIM.
• Primoris reported a quarterly loss of $0.27 per share, beating estimates, while revenue declined 10.7% year over year to $1.69 billion. The company declared a quarterly dividend of $0.08 per share, equivalent to a 0.4% annualized yield.
• The stock faces significant pressure from allegations concerning cost overruns and disclosures related to fixed-price renewable projects; PRIM reportedly fell $23.39 per share after cutting guidance. Analysts maintain a “Moderate Buy” consensus, with an average price target of $132.27.

William Blair Investment Management LLC bought a new position in Primoris Services Corporation (NYSE:PRIM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 399,966 shares of the company's stock, valued at approximately $39,645,000. William Blair Investment Management LLC owned about 0.74% of Primoris Services at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in 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 buying an additional 194 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Primoris Services by 7.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company's stock worth $28,337,000 after acquiring an additional 33,934 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Primoris Services during the 1st quarter worth approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Primoris Services by 25.2% during 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 bought a new position in shares of Primoris Services during the 2nd quarter valued at approximately $274,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Key Primoris Services News

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

• Neutral Sentiment: Several law firms are notifying shareholders who purchased Primoris securities between August 5, 2025, and June 22, 2026, about the lawsuit and the opportunity to apply to lead the case. The notices are largely investor-solicitation announcements and do not represent separate lawsuits or new company disclosures. Kaplan Fox class-action deadline notice
• Negative Sentiment: The complaint alleges that Primoris made material misstatements or omissions regarding the costs and risks of significant fixed-price renewable-energy projects. Investors are also citing alleged project cost overruns that undermined the company’s February 2026 adjusted EPS and adjusted EBITDA outlook. Primoris securities-fraud lawsuit summary
• Negative Sentiment: The lawsuit materials point to a reported $23.39-per-share decline on June 23, 2026, after Primoris sharply reduced guidance. The allegations remain unproven, but the litigation creates potential legal costs, financial liability, and reputational risk for Primoris Services Corporation (PRIM).

Primoris Services Price Performance

PRIM stock opened at $77.17 on Friday. Primoris Services Corporation has a 12 month low of $65.00 and a 12 month high of $205.50. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $88.27 and a 200 day moving average price of $123.47. The stock has a market cap of $4.15 billion, a PE ratio of 30.26 and a beta of 1.43.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.08. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted $1.68 EPS. The firm's revenue was down 10.7% compared to the same quarter last year. Equities research analysts anticipate that Primoris Services Corporation will post 1.76 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Primoris Services's dividend payout ratio is currently 12.55%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group upgraded shares of Primoris Services from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $107.00 to $102.00 in a research report on Thursday, June 25th. Needham & Company LLC dropped their price target on Primoris Services from $188.00 to $172.00 and set a "buy" rating for the company in a research report on Monday, July 13th. 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 research note on Tuesday, June 23rd. Weiss Ratings lowered Primoris Services from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, August 6th. Finally, KeyCorp reiterated a "sector weight" rating on shares of Primoris Services in a report on Tuesday, June 23rd. Eleven equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.27.

Insider Activity at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value 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. This represents a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company's stock.

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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