Primoris Services (NYSE:PRIM) Announces Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Primoris Services (NYSE:PRIM) announced its quarterly earnings results on Tuesday. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28), FiscalAI reports. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. Primoris Services updated its FY 2026 guidance to 4.800-5.000 EPS.

Primoris Services Price Performance

Shares of NYSE:PRIM traded up $17.63 during midday trading on Tuesday, reaching $203.18. The company’s stock had a trading volume of 2,361,024 shares, compared to its average volume of 802,709. Primoris Services has a fifty-two week low of $63.36 and a fifty-two week high of $205.50. The company has a market capitalization of $11.02 billion, a P/E ratio of 40.39 and a beta of 1.50. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $152.12.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is 6.36%.

Hedge Funds Weigh In On Primoris Services

Several large investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after acquiring an additional 728,646 shares during the period. First Trust Advisors LP lifted its stake in shares of Primoris Services by 12.1% during 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 period. Wellington Management Group LLP lifted its stake in shares of Primoris Services by 163.0% during the fourth 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. Charles Schwab Investment Management Inc. lifted its stake in shares of Primoris Services by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 710,894 shares of the company’s stock valued at $88,250,000 after acquiring an additional 10,708 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Primoris Services by 38.3% during the fourth quarter. JPMorgan Chase & Co. now owns 672,192 shares of the company’s stock valued at $83,446,000 after acquiring an additional 185,992 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Analyst Upgrades and Downgrades

PRIM has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Guggenheim boosted their price target on Primoris Services from $184.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Mizuho boosted their price target on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Wolfe Research assumed coverage on Primoris Services in a research report on Thursday, April 9th. They set an “outperform” rating and a $183.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $159.25.

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.