Sei Investments Co. Reduces Stock Holdings in Primoris Services Corporation $PRIM

Sei Investments Co. reduced its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 43.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 56,856 shares of the company’s stock after selling 43,020 shares during the quarter. Sei Investments Co.’s holdings in Primoris Services were worth $8,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CI Investments Inc. purchased a new stake in shares of Primoris Services during the first quarter worth about $5,816,000. First Trust Advisors LP raised its position in shares of Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after purchasing an additional 928,155 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Primoris Services by 2.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,767 shares of the company’s stock worth $1,397,000 after purchasing an additional 223 shares in the last quarter. Piar LLC acquired a new stake in Primoris Services in the 1st quarter worth approximately $300,000. Finally, WCM Investment Management LLC purchased a new stake in Primoris Services during the 1st quarter worth approximately $16,696,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Primoris Services

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

• Neutral Sentiment: Several law firms reminded investors that September 21, 2026 is the deadline to seek appointment as lead plaintiff. The proposed class covers investors who purchased Primoris securities from August 5, 2025 through June 22, 2026. Deadline Alert: Primoris Services Corporation Shareholders
• Negative Sentiment: The lawsuit alleges that Primoris and certain current and former executives misled investors about the company’s project-management capabilities. The claims could create legal costs, reputational damage and additional uncertainty regarding prior disclosures. Primoris Faces Securities Class Action
• Negative Sentiment: Investor notices tie the case to persistent project-cost and execution issues, including problems involving six renewable-energy projects and a June 2026 guidance reset. Reports also reference a COO departure, adding to concerns about management and operational stability. Primoris Timeline Disclosure Events
• Negative Sentiment: The legal overhang follows Primoris’s latest reported quarter, in which earnings and revenue missed analyst expectations and revenue declined year over year. The company’s previously issued fiscal 2026 EPS guidance of $4.80–$5.00 remains an important benchmark as investors assess whether project issues are contained.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRIM. The Goldman Sachs Group upgraded shares of Primoris Services from a “sell” rating to a “neutral” rating and cut their price target for the company from $107.00 to $102.00 in a research note on Thursday, June 25th. Roth Capital reiterated a “buy” rating and set a $100.00 price objective on shares of Primoris Services in a research note on Monday, July 20th. Oppenheimer began coverage on shares of Primoris Services in a report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price objective on the stock. Weiss Ratings lowered shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Finally, Wall Street Zen downgraded Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Buying and Selling at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the stock in a transaction 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 owned 14,941 shares in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the stock in a transaction on 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 completion of the sale, the insider owned 27,574 shares in the company, valued at $3,525,611.64. The trade was 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 owned by corporate insiders.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $84.26 on Monday. Primoris Services Corporation has a 52 week low of $65.00 and a 52 week high of $205.50. The business’s 50 day moving average price is $98.93 and its 200 day moving average price is $130.24. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.57 billion, a P/E ratio of 18.56 and a beta of 1.43.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business’s quarterly revenue 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. On average, sell-side analysts expect that Primoris Services Corporation will post 1.87 earnings per share for the current year.

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.