Primoris Services (NYSE:PRIM) Shares Up 5.9% – Here’s What Happened

Primoris Services Corporation (NYSE:PRIM)’s share price traded up 5.9% on Tuesday . The stock traded as high as $77.55 and last traded at $78.56. 76,899 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 1,397,092 shares. The stock had previously closed at $74.17.

Trending Headlines about Primoris Services

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

• Negative Sentiment: Multiple law firms are publicizing a securities-fraud class action against Primoris on behalf of investors who purchased shares between August 5, 2025, and June 22, 2026. The complaints allege that the company made misleading statements about cost controls and project execution in its renewable-energy business. Specifically, the allegations center on six solar projects that reportedly experienced cost overruns and delays, potentially contradicting earlier assurances to investors. The claims have not been proven in court. Prim shareholder alert
• Negative Sentiment: The legal notices raise potential financial, management and disclosure risks for Primoris. One notice also discusses possible liability involving former Chief Operating Officer Jeremy Kinch, who allegedly made or oversaw project-execution representations. Litigation could create legal expenses, settlement exposure and additional uncertainty around the company’s renewable-energy operations. SueWallSt investor notice
• Neutral Sentiment: The recent releases largely repeat a procedural reminder: investors have until September 21, 2026 to seek appointment as lead plaintiff. The notices do not announce a new judgment, settlement, regulatory penalty or change to Primoris’ financial guidance; their immediate market impact is therefore primarily tied to heightened visibility of the existing lawsuit. Kaplan Fox class action deadline notice

Analysts Set New Price Targets

PRIM has been the subject of a number of recent research reports. Zacks Research upgraded Primoris Services from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Roth Capital reissued a “buy” rating and issued a $100.00 target price on shares of Primoris Services in a research note on Monday, July 20th. Wells Fargo & Company reduced their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, June 23rd. Wall Street Zen lowered Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $149.00 price target on shares of Primoris Services in a research note on Monday, June 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.62.

Primoris Services Stock Performance

The company has a market capitalization of $4.11 billion, a PE ratio of 29.98 and a beta of 1.43. 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 business’s fifty day moving average is $81.33 and its two-hundred day moving average is $113.56.

Primoris Services (NYSE:PRIM) last issued its 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. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%.The company’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the business posted $1.68 EPS. Equities research analysts predict that Primoris Services Corporation will post 1.79 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. Primoris Services’s dividend payout ratio (DPR) is 12.55%.

Hedge Funds Weigh In On Primoris Services

A number of hedge funds have recently bought and sold shares of PRIM. BlackRock Inc. bought a new position in Primoris Services during the second quarter valued at $677,685,000. Wellington Management Group LLP increased its holdings in shares of Primoris Services by 148.7% in the 2nd quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company’s stock worth $463,434,000 after buying an additional 2,795,887 shares during the last quarter. First Trust Advisors LP increased its holdings 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 worth $412,837,000 after buying an additional 928,155 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Primoris Services by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after buying an additional 42,052 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of Primoris Services by 0.5% during the 4th quarter. Westfield Capital Management Co. LP now owns 952,196 shares of the company’s stock valued at $118,206,000 after buying an additional 4,888 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Company Profile

Primoris Services Corporation is a specialty contractor and infrastructure services company that provides construction, engineering, maintenance, and technical services across North America. The company serves utilities, energy producers, industrial customers, municipalities, and renewable energy developers.

Primoris operates through three primary business areas: Utilities, Energy, and Renewables. Its services include the construction, repair, replacement, and maintenance of electric transmission and distribution systems, natural gas and other utility infrastructure, communications networks, water and wastewater facilities, pipelines, power-generation assets, and industrial facilities.