Hsbc Holdings PLC Acquires 10,361 Shares of Primoris Services Corporation $PRIM

Hsbc Holdings PLC increased its holdings in shares of Primoris Services Corporation (NYSE:PRIM) by 97.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 21,047 shares of the company’s stock after acquiring an additional 10,361 shares during the period. Hsbc Holdings PLC’s holdings in Primoris Services were worth $3,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRIM. Vanguard Group Inc. increased its position in shares of Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after acquiring an additional 466,192 shares during the last quarter. State Street Corp increased its holdings 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 during the last quarter. First Trust Advisors LP lifted its stake in Primoris Services by 12.1% in the fourth quarter. First Trust Advisors LP now owns 1,958,008 shares of the company’s stock valued at $243,067,000 after acquiring an additional 211,096 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Primoris Services by 163.0% in the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after acquiring an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Primoris Services by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after purchasing an additional 42,052 shares during the period. 91.82% of the stock is owned by institutional investors.

Insider Activity

In related news, insider John M. Perisich sold 29,707 shares of the business’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 sale, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction dated 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 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. Insiders own 1.10% of the company’s stock.

Primoris Services Trading Down 4.5%

Shares of PRIM opened at $86.59 on Friday. 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 Corporation has a 52-week low of $65.00 and a 52-week high of $205.50. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 19.07 and a beta of 1.41. The business’s fifty day moving average is $101.70 and its 200-day moving average is $131.91.

Primoris Services (NYSE:PRIM) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts anticipate that Primoris Services Corporation will post 1.87 EPS for the current fiscal year.

Primoris Services Dividend Announcement

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

Key Headlines Impacting Primoris Services

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

• Negative Sentiment: Several firms, including Robbins Geller, Howard G. Smith, Schall, Rosen, Pomerantz, Bernstein Liebhard, DJS, Kirby McInerney, Bragar Eagel & Squire, and KSF, issued fresh notices about the Primoris securities class action and the September 21, 2026 lead-plaintiff deadline, keeping legal risk in focus for shareholders. Article Title
• Negative Sentiment: The lawsuit campaign suggests investors are still reacting to alleged securities-law violations, which can weigh on sentiment by increasing uncertainty, legal costs, and the risk of further disclosure-related headlines. Article Title
• Neutral Sentiment: J.P. Morgan reiterated a Buy rating on Primoris, offering some offsetting support, but the rating update was not enough to overshadow the litigation headlines. Article Title

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRIM. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. upgraded shares of Primoris Services from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $105.00 to $116.00 in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Guggenheim reiterated a “buy” rating and set a $162.00 target price on shares of Primoris Services in a research note on Tuesday, June 23rd. Finally, The Goldman Sachs Group raised Primoris Services from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $107.00 to $102.00 in a report on Thursday, June 25th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

Primoris Services Company 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.