Zacks Research upgraded shares of Primoris Services (NYSE:PRIM – Free Report) from a strong sell rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.
Several other equities analysts have also weighed in on the company. Oppenheimer initiated coverage on Primoris Services in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 target price on the stock. Wells Fargo & Company decreased their price objective on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, June 23rd. Mizuho decreased their price target on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Cantor Fitzgerald upped their price objective on shares of Primoris Services from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, Roth Capital reiterated a “buy” rating and set a $100.00 target price on shares of Primoris Services in a report on Monday, July 20th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average target price of $132.27.
Get Our Latest Stock Analysis on Primoris Services
Primoris Services Stock Performance
Primoris Services (NYSE:PRIM – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.08. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 1.92% and a return on equity of 9.96%. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. Equities analysts anticipate that Primoris Services will post 1.76 earnings per share for the current year.
Primoris Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Wednesday, September 30th. Primoris Services’s dividend payout ratio is currently 12.55%.
Insider Buying and Selling at Primoris Services
In related news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Primoris Services
Several hedge funds and other institutional investors have recently made changes to their positions in PRIM. BlackRock Inc. acquired a new position in shares of Primoris Services during the 2nd quarter worth about $677,685,000. Vanguard Group Inc. increased its holdings in shares of Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after acquiring an additional 466,192 shares during the last quarter. California State Teachers Retirement System raised its stake in Primoris Services by 9,830.3% in the 2nd quarter. California State Teachers Retirement System now owns 6,234,252 shares of the company’s stock valued at $617,939,000 after acquiring an additional 6,171,472 shares during the period. Wellington Management Group LLP lifted its holdings in Primoris Services by 148.7% during the 2nd quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company’s stock valued at $463,434,000 after purchasing an additional 2,795,887 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in Primoris Services by 47.4% during the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after purchasing an additional 928,155 shares during the last quarter. 91.82% of the stock is owned by institutional investors.
Key Primoris Services News
Here are the key news stories impacting Primoris Services this week:
- Positive Sentiment: Zacks upgraded Primoris from “strong sell” to “hold,” indicating that the firm sees less downside risk than previously, although the revised rating remains cautious. Zacks.com
- Neutral Sentiment: A Zacks comparison said Argan offers stronger recent growth, backlog and return on equity, while Primoris has broader exposure, a record backlog and potential recovery prospects. The comparison provides context but does not represent a new company-specific catalyst. Argan vs. Primoris Services: Which Stock Offers More Growth Potential?
- Negative Sentiment: Several law firms publicized a securities class action against Primoris and certain current or former executives. The lawsuit concerns investors who purchased PRIM securities between August 5, 2025, and June 22, 2026. The allegations include misleading statements about renewable-energy project cost forecasting, project oversight, profitability and delayed recognition of margin deterioration. These are allegations, and no court finding of wrongdoing has been reported. PRIM Class Action Reminder
- Negative Sentiment: The repeated investor alerts from Rosen, Kahn Swick & Foti, Pomerantz, Robbins Geller, Glancy Prongay and other firms emphasize a September 21, 2026 lead-plaintiff deadline. The volume of announcements may increase reputational, litigation and potential financial uncertainty surrounding Primoris, even though the notices themselves do not establish liability. PRIM Shareholder Alert
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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