Primoris Services (NYSE:PRIM) Trading Up 10.7% – Should You Buy?

Primoris Services Corporation (NYSE:PRIM) shares traded up 10.7% during mid-day trading on Wednesday . The company traded as high as $96.11 and last traded at $94.0770. 816,042 shares were traded during trading, a decline of 40% from the average daily volume of 1,364,985 shares. The stock had previously closed at $84.95.

More Primoris Services News

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

• Positive Sentiment: Goldman Sachs upgraded Primoris from “sell” to “neutral,” suggesting the stock may be closer to fair value after the selloff, even though the firm trimmed its price target to $102. Goldman Sachs upgrade via Benzinga
• Neutral Sentiment: Cantor Fitzgerald also lowered its price target on PRIM to $100 from $124 while keeping a neutral stance, reflecting more cautious expectations but still implying limited upside from recent levels. Cantor Fitzgerald target cut via Benzinga
• Neutral Sentiment: KeyCorp cut FY2027 EPS estimates to $5.09 from $5.87, signaling that analysts are dialing back profit expectations for Primoris after the recent operational issues. KeyCorp estimate cut
• Negative Sentiment: Multiple investor-law-firm investigations were announced, including Pomerantz, Levi & Korsinsky, Kirby McInerney, Glancy Prongay Wolke & Rotter, and Howard G. Smith, all tied to possible securities-law violations and shareholder losses. Pomerantz investigation
• Negative Sentiment: Recent reports say Primoris disclosed additional problems and cost overruns in its renewables projects, and that the company’s COO abruptly departed, reinforcing concerns about execution risk and profitability. Renewables shock and COO departure
• Negative Sentiment: The company’s updated FY2026 EPS guidance of $2.05 to $2.60 appears far below prior expectations, adding to investor worries about earnings momentum and visibility. FY2026 guidance update

Analyst Ratings Changes

PRIM has been the topic of several recent analyst reports. Zacks Research downgraded shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. KeyCorp restated a “sector weight” rating on shares of Primoris Services in a research note on Tuesday. Needham & Company LLC reduced their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wolfe Research reaffirmed an “outperform” rating and set a $149.00 price target on shares of Primoris Services in a research note on Monday, June 15th. Finally, Cantor Fitzgerald decreased their price target on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.67.

Primoris Services Price Performance

The firm has a fifty day moving average of $126.24 and a two-hundred day moving average of $137.69. The stock has a market capitalization of $5.17 billion, a P/E ratio of 20.97 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28.

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 the consensus estimate 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 the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, analysts predict that Primoris Services Corporation will post 2.01 EPS for the current year.

Primoris Services Announces Dividend

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

Insider Buying and Selling at Primoris Services

In related news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $2,381,800.00. Following the completion of the transaction, the director owned 14,941 shares of the company’s stock, valued at $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 company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position in Primoris Services by 4.4% during the first quarter. Bank of America Corp DE now owns 324,887 shares of the company’s stock valued at $46,472,000 after acquiring an additional 13,617 shares during the last quarter. South Dakota Investment Council acquired a new position in shares of Primoris Services during the first quarter worth $1,116,000. Altshuler Shaham Ltd purchased a new stake in shares of Primoris Services during the 1st quarter valued at $118,000. Smith Group Asset Management LLC lifted its holdings in shares of Primoris Services by 4.6% during the 1st quarter. Smith Group Asset Management LLC now owns 9,428 shares of the company’s stock valued at $1,349,000 after purchasing an additional 413 shares during the last quarter. Finally, Amundi boosted its position in shares of Primoris Services by 183.1% in the 1st quarter. Amundi now owns 7,662 shares of the company’s stock worth $1,096,000 after purchasing an additional 4,956 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.