Primoris Services (NYSE:PRIM – Get Free Report) had its price objective cut by analysts at Mizuho from $135.00 to $117.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 47.99% from the company’s previous close.
Several other research firms have also recently issued reports on PRIM. Wells Fargo & Company decreased their price objective on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. UBS Group dropped 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. Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. 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 assigned a Sell rating to the company. According to data from MarketBeat, Primoris Services has a consensus rating of “Moderate Buy” and a consensus price target of $148.33.
Check Out Our Latest Report on Primoris Services
Primoris Services Price Performance
Primoris Services (NYSE:PRIM – Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, research analysts predict that Primoris Services will post 4.55 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction on 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 completion of the sale, the insider owned 27,574 shares in the company, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the company’s 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 sale, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Primoris Services
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after purchasing an additional 466,192 shares during the period. First Trust Advisors LP raised its holdings in Primoris Services by 47.4% during the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock worth $412,837,000 after purchasing an additional 928,155 shares in the last quarter. State Street Corp increased its position in shares of Primoris Services by 56.8% during the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after purchasing an additional 728,646 shares during the period. Wellington Management Group LLP raised its stake in shares of Primoris Services by 163.0% in the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after buying an additional 1,082,218 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Primoris Services by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after buying an additional 42,052 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.
More Primoris Services News
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Guggenheim reaffirmed its Buy rating and set a $162 price target, indicating meaningful upside if the turnaround succeeds. Benzinga analyst rating update
- Positive Sentiment: Wells Fargo lowered its target to $85 but still sees some upside from the current trading level. Benzinga analyst rating update
- Neutral Sentiment: KeyCorp reiterated a Sector Weight rating, signaling a wait-and-see stance rather than a strong bullish or bearish view. Benzinga analyst rating update
- Negative Sentiment: The company reduced FY 2026 guidance after uncovering more renewables-related overruns and delays, sharply lowering expected EPS and EBITDA. Business Wire business update
- Negative Sentiment: The COO departure added to investor concerns about operational execution at a time when the company is already dealing with project issues. Business Wire business update
- Negative Sentiment: Law firms and a shareholder investigation headline suggest possible securities-law claims, which can add pressure to sentiment. GlobeNewswire shareholder investigation
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.
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