New York State Teachers Retirement System Grows Position in Primoris Services Corporation $PRIM

Key Points

• New York State Teachers Retirement System boosted its Primoris Services stake by 327.8% in the fourth quarter, ending with 20,892 shares worth about $2.59 million.
• Primoris reported weak Q1 results, missing EPS and revenue estimates and cutting guidance, which contributed to a sharp re-rating of the stock. The company posted $0.59 EPS on $1.56 billion in revenue, both below expectations.
• Despite recent pressure, analysts remain mixed but generally constructive: several firms maintained buy-type ratings, and the stock still carries a Moderate Buy consensus with an average price target of $160.87.

New York State Teachers Retirement System raised its stake in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 327.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,892 shares of the company's stock after acquiring an additional 16,008 shares during the period. New York State Teachers Retirement System's holdings in Primoris Services were worth $2,594,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PRIM. SBI Securities Co. Ltd. raised its holdings in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company's stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in shares of Primoris Services during the second quarter valued at about $34,000. Cullen Frost Bankers Inc. purchased a new position in Primoris Services during the third quarter worth about $37,000. NewEdge Advisors LLC boosted its holdings in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock worth $43,000 after purchasing an additional 194 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its position in Primoris Services by 163.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 321 shares of the company's stock worth $44,000 after purchasing an additional 199 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Primoris Services

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

• Positive Sentiment: Premier PV, a Primoris Services subsidiary, said it reached $55 million in backlog, signaling continued project demand and potential future revenue. Article: Premier PV, a Primoris Services Corporation Company, Reaches $55 Million in Backlog
• Neutral Sentiment: Needham lowered its price target on Primoris from $205 to $188 but kept a Buy rating, suggesting analysts still see meaningful upside despite recent weakness.
• Neutral Sentiment: Wells Fargo cut its price target from $168 to $118 and maintained an Equal Weight rating, reflecting a more cautious near-term view while still implying some upside from current levels.
• Neutral Sentiment: Recent commentary on valuation after weak Q1 results and lower profit guidance highlights that the stock may now be trading on reduced expectations rather than growth momentum. Article: A Look At Primoris Services (PRIM) Valuation After Weak Q1 2026 Results And Lower Profit Guidance
• Negative Sentiment: Primoris reported Q1 revenue of $1.6 billion, which was down year over year, and the company’s earnings miss plus lowered guidance prompted a sharp re-rating of the stock. Article: Primoris Services Corporation Q1 2026 Earnings Call Summary
• Negative Sentiment: Multiple law firms announced investigations into possible securities-law violations at Primoris, adding an overhang that can pressure investor sentiment. Article: INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Primoris Services Corporation - PRIM Article: Primoris Services Corp. Investigated for Securities Fraud; Investors Should Contact Block & Leviton to Possibly Recover Losses

Primoris Services Price Performance

NYSE:PRIM opened at $105.19 on Friday. The stock has a market capitalization of $5.70 billion, a P/E ratio of 23.17 and a beta of 1.50. The stock has a fifty day moving average price of $150.65. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 1 year low of $67.15 and a 1 year high of $205.50.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts anticipate that Primoris Services Corporation will post 5.73 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. Primoris Services's dividend payout ratio (DPR) is currently 7.05%.

Analysts Set New Price Targets

Several equities analysts have commented on PRIM shares. KeyCorp dropped their target price on shares of Primoris Services from $179.00 to $137.00 and set an "overweight" rating on the stock in a research report on Thursday. Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the company a "neutral" rating in a research report on Tuesday, February 24th. UBS Group lifted their price target on Primoris Services from $176.00 to $212.00 and gave the stock a "buy" rating in a report on Monday, May 4th. The Goldman Sachs Group boosted their price objective on Primoris Services from $117.00 to $133.00 and gave the stock a "sell" rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings downgraded Primoris Services from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.87.

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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