Primoris Services (NYSE:PRIM) Trading 10.7% Higher – Here’s Why

Primoris Services Corporation (NYSE:PRIM)’s stock price shot up 10.7% on Wednesday . The stock traded as high as $96.11 and last traded at $94.0770. Approximately 816,042 shares were traded during trading, a decline of 40% from the average session 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: Primoris said it has also won about $2.0 billion of new second-quarter project awards in energy markets, including natural gas generation, industrial work, and electric construction, which could support future revenue. Primoris Services Corporation Provides Business Update
• Neutral Sentiment: The company presented at the J.P. Morgan Natural Resources Conference, which was mainly a routine investor-relations event and did not appear to provide a major new catalyst. Primoris Services Corporation (PRIM) Presents at J.P. Morgan Natural Resources Conference 2026 Transcript
• Negative Sentiment: Primoris cut FY 2026 EPS guidance to $2.05-$2.60 from $4.80-$5.00 after uncovering additional cost overruns and delays in six renewables projects, signaling weaker profitability ahead. Primoris Services Corporation Provides Business Update
• Negative Sentiment: Management also said COO Jeremy Kinch is departing, adding to investor concern about operational execution at a time when the business is already under pressure. Primoris Services Corporation Provides Business Update
• Negative Sentiment: Multiple law firms launched securities-fraud investigations and shareholder alerts after the guidance cut, which can weigh on sentiment and raise litigation overhang. Primoris Services Corporation (PRIM) Shareholders Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday. Mizuho cut their price target on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday. UBS Group reduced their price objective on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Guggenheim restated a “buy” rating and issued a $162.00 price objective on shares of Primoris Services in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Primoris Services in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $148.33.

Primoris Services Trading Up 10.0%

The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $5.07 billion, a P/E ratio of 20.56 and a beta of 1.37. The firm’s 50 day simple moving average is $129.09 and its two-hundred day simple moving average is $138.14.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s 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. As a group, analysts forecast that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

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

Insider Buying and Selling

In related news, insider John M. Perisich sold 29,707 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on 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 owned 14,941 shares in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Primoris Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB bought a new position in Primoris Services in the 4th quarter worth about $7,181,000. New York State Teachers Retirement System grew its holdings in Primoris Services by 327.8% during 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 buying an additional 16,008 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Primoris Services by 509.6% during the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after buying an additional 281,482 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Primoris Services by 2,338.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock valued at $39,033,000 after buying an additional 301,532 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Primoris Services by 2.4% in the fourth quarter. UBS Group AG now owns 638,876 shares of the company’s stock worth $79,310,000 after buying an additional 15,112 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

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.