Primoris Services (NYSE:PRIM) Given New $137.00 Price Target at KeyCorp

Primoris Services (NYSE:PRIM) had its price objective cut by KeyCorp from $179.00 to $137.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on PRIM. DA Davidson set a $180.00 target price on Primoris Services in a research note on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price target on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. UBS Group raised their price objective on shares of Primoris Services from $176.00 to $212.00 and gave the company a “buy” rating in a research note on Monday. Mizuho boosted their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Primoris Services presently has a consensus rating of “Moderate Buy” and an average price target of $160.87.

Primoris Services Stock Down 2.2%

Shares of PRIM stock traded down $2.34 on Thursday, reaching $105.64. The company had a trading volume of 1,908,595 shares, compared to its average volume of 1,004,904. The firm has a 50-day simple moving average of $150.65. Primoris Services has a one year low of $67.15 and a one year high of $205.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.26. The firm has a market capitalization of $5.73 billion, a PE ratio of 23.28 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, sell-side analysts forecast that Primoris Services will post 5.73 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Primoris Services’s dividend payout ratio is currently 6.36%.

Hedge Funds Weigh In On Primoris Services

Several large investors have recently made changes to their positions in the business. Root Financial Partners LLC raised its stake in Primoris Services by 43.1% during the 1st 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 period. Cullen Frost Bankers Inc. grew its holdings in Primoris Services by 30.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Assetmark Inc. grew its holdings in Primoris Services by 9.7% during the 3rd quarter. Assetmark Inc. now owns 953 shares of the company’s stock valued at $131,000 after buying an additional 84 shares in the last quarter. Covestor Ltd raised its position in shares of Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the company’s stock valued at $89,000 after buying an additional 85 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Primoris Services by 1.1% in the fourth quarter. CWM LLC now owns 8,970 shares of the company’s stock worth $1,114,000 after buying an additional 96 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services News Summary

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

• Positive Sentiment: Some analysts remain constructive: Needham cut its price target but kept a “buy” rating with a $188 target (large upside versus current levels). KeyCorp trimmed its target to $137 but kept an “overweight” rating, signaling some analysts see recovery potential. Benzinga
• Neutral Sentiment: Company reported Q1 2026 results: $0.59 EPS (miss vs. ~$0.87 est.) and ~$1.56–1.6B revenue (below estimates, down ~5.4% YoY); management set FY2026 guidance of $4.80–5.00 EPS. Investors should weigh the guidance midpoint against street estimates (~$5.73). Valuation After Weak Q1
• Neutral Sentiment: Q1 segment detail: Utilities growth partly offset Energy weakness — useful context for modeling revenue mix and longer‑term margins. Review the earnings‑call summary for management commentary and backlog/segment trends. Earnings Call Summary
• Negative Sentiment: Immediate market reaction: shares plunged after the earnings miss and lowered outlook, reflecting investor concern about slowing revenue and margin pressure. Coverage across outlets flagged a sharp stock drop. Plunge After Earnings Miss
• Negative Sentiment: Analyst pressure: Wells Fargo cut its target to $118 and moved to “equal weight” — another downgrade that reduces near‑term upside expectations from some institutional desks. Wells Fargo Note
• Negative Sentiment: Legal risk: multiple shareholder law firms (Pomerantz, Block & Leviton, Ademi LLP and others) have opened investigations into possible securities‑law claims tied to the company’s disclosures and results, increasing litigation risk and potential headline volatility. Pomerantz Alert

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.