Guggenheim Cuts Primoris Services (NYSE:PRIM) Price Target to $127.00

Primoris Services (NYSE:PRIM) had its price target cut by Guggenheim from $162.00 to $127.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on PRIM. 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Primoris Services in a research report on Wednesday. Needham & Company LLC lowered their price target on Primoris Services from $188.00 to $172.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Zacks Research downgraded Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Mizuho cut their price objective on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Eleven equities research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.13.

Primoris Services Price Performance

NYSE PRIM opened at $82.96 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. Primoris Services has a 12 month low of $65.00 and a 12 month high of $205.50. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 32.53 and a beta of 1.43. The company’s 50 day moving average is $94.83 and its two-hundred day moving average is $128.30.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.08. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.68 earnings per share. As a group, research analysts anticipate that Primoris Services will post 1.87 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Primoris Services’s payout ratio is 12.55%.

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the business’s 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 sale, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRIM. Global Retirement Partners LLC bought a new stake in Primoris Services in the second quarter worth $26,000. Harbour Investments Inc. bought a new position in Primoris Services during the fourth quarter valued at $33,000. Root Financial Partners LLC lifted its position in Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock valued at $33,000 after purchasing an additional 69 shares during the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services in the 2nd quarter worth $34,000. Finally, Persistent Asset Partners Ltd purchased a new position in shares of Primoris Services in the 2nd quarter worth $36,000. 91.82% of the stock is currently owned by institutional investors.

Primoris Services News Summary

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

• Positive Sentiment: Guggenheim maintained a “Buy” rating while lowering its price target from $162 to $127, implying substantial upside from recent levels. The revised target suggests the firm still sees meaningful long-term value despite recent execution concerns. Benzinga analyst rating report
• Neutral Sentiment: Cantor Fitzgerald reaffirmed its “Neutral” rating on Primoris. The decision provides no new positive catalyst but indicates the firm has not further downgraded its view following the company’s recent results and legal developments. Cantor Fitzgerald rating report
• Negative Sentiment: Primoris is facing a securities class-action lawsuit covering investors who purchased shares from August 5, 2025, through June 22, 2026. Multiple law firms publicized the September 21, 2026 lead-plaintiff deadline. The complaint alleges that the company and certain current and former executives made misleading statements about cost forecasting, project oversight, and profitability at renewable-energy construction projects, including alleged cost overruns and delays. These are allegations, and the litigation could create legal costs, reputational risk, and additional uncertainty for shareholders. Robbins LLP class-action notice
• Negative Sentiment: Quarterly revenue missed expectations: Primoris reported $1.69 billion in revenue versus the $1.73 billion consensus estimate, with sales down 10.7% year over year. The company did beat the adjusted EPS estimate, reporting a loss of $0.27 versus expectations for a $0.35 loss, but the revenue shortfall and project-execution concerns remain pressure points. Primoris Q2 2026 earnings call transcript

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.