Rep. Gilbert Ray Cisneros, Jr. Sells Primoris Services Corporation (NYSE:PRIM) Shares

Key Points

• Rep. Gilbert Ray Cisneros, Jr. disclosed selling Primoris Services shares worth between $1,001 and $15,000 on May 8, according to a filing made public on June 8.
• Primoris Services stock fell sharply, dropping 9.7% to $93.87 amid heavy trading volume, well below its 50-day and 200-day moving averages.
• The company missed quarterly earnings and revenue expectations, reporting $0.59 EPS versus $0.87 expected and $1.56 billion in revenue versus $1.73 billion expected, while also maintaining FY2026 EPS guidance of 4.800-5.000.

Representative Gilbert Ray Cisneros, Jr. (Democratic-California) recently sold shares of Primoris Services Corporation (NYSE:PRIM). In a filing disclosed on June 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Primoris Services stock on May 8th. The trade occurred in the Representative's "150 MAIN STREET TRUST > BANK OF AMERICA" account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of SoftBank Group OTCMKTS: SFTBF on 6/2/2026.
• Purchased $1,001 - $15,000 in shares of Ciena NYSE: CIEN on 5/29/2026.
• Sold $1,001 - $15,000 in shares of AutoZone NYSE: AZO on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Independent Bank NASDAQ: INDB on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Arcutis Biotherapeutics NASDAQ: ARQT on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of HealthEquity NASDAQ: HQY on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Boston Scientific NYSE: BSX on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Perella Weinberg Partners NASDAQ: PWP on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Cooper Companies NASDAQ: COO on 5/29/2026.
• Purchased $1,001 - $15,000 in shares of Ligand Pharmaceuticals NASDAQ: LGND on 5/29/2026.

Primoris Services Stock Down 9.7%

Shares of NYSE PRIM traded down $10.03 during trading hours on Wednesday, hitting $93.87. The stock had a trading volume of 3,518,486 shares, compared to its average volume of 1,254,450. The company has a market capitalization of $5.09 billion, a P/E ratio of 20.68 and a beta of 1.36. The firm's 50-day moving average price is $139.35 and its two-hundred day moving average price is $139.87. Primoris Services Corporation has a 52 week low of $71.84 and a 52 week high of $205.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28.

Primoris Services (NYSE:PRIM - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts anticipate that Primoris Services Corporation will post 4.55 EPS 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. Investors of record on Tuesday, June 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services's payout ratio is presently 7.05%.

Insider Transactions at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated Thursday, May 28th. The stock was 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. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PRIM shares. Weiss Ratings downgraded shares of Primoris Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. UBS Group reduced their price target on Primoris Services from $212.00 to $186.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Needham & Company LLC lowered their price objective on Primoris Services from $205.00 to $188.00 and set a "buy" rating on the stock in a report on Friday, May 8th. KeyCorp lowered their price objective on Primoris Services from $179.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their price objective on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $156.20.

Hedge Funds Weigh In On Primoris Services

A number of institutional investors have recently made changes to their positions in PRIM. Vanguard Group Inc. grew its position in Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company's stock worth $804,361,000 after buying an additional 466,192 shares in the last quarter. First Trust Advisors LP grew its position in Primoris Services by 47.4% during the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock worth $412,837,000 after buying an additional 928,155 shares in the last quarter. State Street Corp grew its position in Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company's stock worth $249,866,000 after buying an additional 728,646 shares in the last quarter. Wellington Management Group LLP grew its position in Primoris Services by 163.0% during the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company's stock worth $216,774,000 after buying an additional 1,082,218 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Primoris Services by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company's stock worth $164,526,000 after buying an additional 42,052 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California's 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California's 31st Congressional District. He declared candidacy for the 2026 election. Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor's degree in political science from George Washington University in 1994, a master's in business administration from Regis University in 2002, and a master's degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

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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