Primoris Services (NYSE:PRIM) Stock Price Down 6.7% – What’s Next?

Primoris Services Corporation (NYSE:PRIM)’s share price was down 6.7% during trading on Wednesday . The company traded as low as $96.17 and last traded at $96.9670. Approximately 461,729 shares traded hands during trading, a decline of 62% from the average daily volume of 1,223,522 shares. The stock had previously closed at $103.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PRIM shares. Weiss Ratings downgraded shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Cantor Fitzgerald restated a “neutral” rating on shares of Primoris Services in a research note on Tuesday. UBS Group reduced their price objective on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Finally, DA Davidson set a $180.00 price objective on shares of Primoris Services in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Primoris Services has a consensus rating of “Moderate Buy” and a consensus target price of $156.20.

Primoris Services Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s fifty day moving average price is $139.35 and its 200-day moving average price is $139.87. The company has a market capitalization of $5.17 billion, a P/E ratio of 20.99 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last issued its 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). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, research analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s dividend payout ratio is presently 7.05%.

Insider Transactions at Primoris Services

In other Primoris Services news, 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 value of $3,798,337.02. Following the transaction, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Lee King sold 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the transaction, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in Primoris Services in the 3rd quarter valued at about $1,726,000. Nordea Investment Management AB bought a new position in Primoris Services in the 4th quarter valued at about $7,181,000. New York State Teachers Retirement System raised its holdings in Primoris Services by 327.8% in the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after acquiring an additional 16,008 shares during the period. Principal Financial Group Inc. raised its holdings in Primoris Services by 509.6% in the 4th quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after acquiring an additional 281,482 shares during the period. Finally, Leuthold Group LLC increased its holdings in shares of Primoris Services by 1,350.3% during the third quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after purchasing an additional 45,572 shares during the period. 91.82% of the stock is owned by institutional investors.

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.