CI Investments Inc. Acquires Shares of 40,660 Primoris Services Corporation $PRIM

CI Investments Inc. bought a new stake in Primoris Services Corporation (NYSE:PRIM) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 40,660 shares of the company’s stock, valued at approximately $5,816,000.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB acquired a new position in shares of Primoris Services during the fourth quarter worth $7,181,000. New York State Teachers Retirement System raised its stake in Primoris Services by 327.8% in the fourth quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after buying an additional 16,008 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Primoris Services by 2,338.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after buying an additional 301,532 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Primoris Services by 509.6% during the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock worth $41,800,000 after buying an additional 281,482 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Primoris Services by 2.4% during the 4th quarter. UBS Group AG now owns 638,876 shares of the company’s stock worth $79,310,000 after acquiring an additional 15,112 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PRIM. Weiss Ratings downgraded Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. The Goldman Sachs Group upgraded shares of Primoris Services from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $107.00 to $102.00 in a research report on Thursday, June 25th. Oppenheimer initiated coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price target on the stock. JPMorgan Chase & Co. raised shares of Primoris Services from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $105.00 to $116.00 in a research report on Monday, June 29th. Finally, Wolfe Research restated an “outperform” rating and issued a $149.00 price objective on shares of Primoris Services in a research note on Monday, June 15th. 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. Based on data from MarketBeat.com, Primoris Services has a consensus rating of “Moderate Buy” and an average target price of $137.47.

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John M. Perisich sold 29,707 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Key Headlines Impacting Primoris Services

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

• Positive Sentiment: J.P. Morgan’s bullish rating adds a favorable analyst signal for Primoris Services Corporation (PRIM). Primoris Services (PRIM) Receives a Buy from J.P. Morgan
• Positive Sentiment: Roth Capital reiterated a Buy rating, suggesting some analysts still see upside in PRIM shares. Roth Capital Reiterates Buy Rating for Primoris Services (NYSE:PRIM)
• Neutral Sentiment: Primoris scheduled its second-quarter 2026 earnings release and conference call for early August, which could be a near-term catalyst if results or guidance surprise investors. Primoris Services Corporation Schedules Second Quarter 2026 Earnings Conference Call and Webcast
• Negative Sentiment: Several law firms announced or publicized class action lawsuits alleging securities-law violations, creating a material legal overhang for PRIM. ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Primoris Services Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action – PRIM

Primoris Services Trading Up 1.4%

Shares of Primoris Services stock opened at $90.75 on Friday. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 19.99 and a beta of 1.41. Primoris Services Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The company’s 50-day simple moving average is $102.24 and its 200-day simple moving average is $132.23. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last announced 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 business 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts anticipate that Primoris Services Corporation will post 1.87 earnings per share for the current year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, June 30th. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

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.