Principal Financial Group Inc. Raises Position in Primoris Services Corporation $PRIM

Key Points

• Principal Financial Group boosted its stake in Primoris Services by 509.6% in the fourth quarter, bringing its holding to 336,713 shares worth about $41.8 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 91.82% of the company’s stock. Several large investors also increased positions, including Vanguard, American Century, and Westfield Capital.
• Primoris recently reported a Q1 earnings miss, posting $0.59 EPS versus $0.87 expected and revenue of $1.56 billion versus $1.73 billion expected, while also lowering its outlook and cutting analyst price targets across the Street.

Principal Financial Group Inc. raised its holdings in shares of Primoris Services Corporation (NYSE:PRIM - Free Report) by 509.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 336,713 shares of the company's stock after acquiring an additional 281,482 shares during the quarter. Principal Financial Group Inc. owned approximately 0.62% of Primoris Services worth $41,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake 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. State Street Corp boosted its stake in shares of Primoris Services by 2.6% during the 2nd quarter. State Street Corp now owns 1,320,947 shares of the company's stock worth $103,058,000 after acquiring an additional 33,399 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Primoris Services by 69.6% during the 3rd quarter. American Century Companies Inc. now owns 1,019,856 shares of the company's stock worth $140,057,000 after acquiring an additional 418,374 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Primoris Services by 44.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 947,308 shares of the company's stock worth $130,094,000 after acquiring an additional 293,085 shares during the last quarter. Finally, Congress Asset Management Co. boosted its stake in shares of Primoris Services by 2.4% during the 4th quarter. Congress Asset Management Co. now owns 815,270 shares of the company's stock worth $101,208,000 after acquiring an additional 19,034 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Primoris Services from $165.00 to $171.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Wells Fargo & Company dropped their target price on shares of Primoris Services from $168.00 to $118.00 and set an "equal weight" rating for the company in a report on Friday. Wall Street Zen downgraded shares of Primoris Services from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. KeyCorp dropped their target price on shares of Primoris Services from $179.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Mizuho upped their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a "neutral" rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Primoris Services has an average rating of "Moderate Buy" and a consensus target price of $160.87.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $105.19 on Friday. The company has a market cap of $5.70 billion, a P/E ratio of 23.17 and a beta of 1.50. 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 business has a fifty day moving average price of $150.65. Primoris Services Corporation has a fifty-two week low of $67.15 and a fifty-two week high of $205.50.

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

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.08 dividend. 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 presently 7.05%.

Primoris Services News Roundup

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 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.

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