QRG Capital Management Inc. Acquires 9,343 Shares of Primoris Services Corporation $PRIM

Key Points

• QRG Capital Management increased its stake in Primoris by 95.4%, buying 9,343 shares to hold 19,141 shares worth roughly $2.38 million at quarter‑end.
• Primoris missed Q1 estimates (EPS $0.59 vs. $0.87) and cut FY‑2026 guidance to $4.80–5.00 EPS, which spurred a sharp selloff and has led to multiple shareholder law‑firm investigations, raising near‑term downside and litigation risk.
• Despite the setbacks, analysts' consensus is a "Moderate Buy" with an average target of $163.33; the stock was trading up ~6.3% near $107.65, and institutional ownership is about 91.82%.

QRG Capital Management Inc. raised its holdings in Primoris Services Corporation (NYSE:PRIM - Free Report) by 95.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,141 shares of the company's stock after buying an additional 9,343 shares during the quarter. QRG Capital Management Inc.'s holdings in Primoris Services were worth $2,376,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Assetmark Inc. grew its position in shares of Primoris Services by 9.7% in the 3rd quarter. Assetmark Inc. now owns 953 shares of the company's stock worth $131,000 after buying an additional 84 shares during the last quarter. CWM LLC boosted its position in shares of Primoris Services by 1.1% during the fourth quarter. CWM LLC now owns 8,970 shares of the company's stock valued at $1,114,000 after purchasing an additional 96 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Primoris Services by 5.5% during the third quarter. NewEdge Advisors LLC now owns 2,071 shares of the company's stock valued at $284,000 after purchasing an additional 108 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in shares of Primoris Services by 0.4% during the third quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the company's stock valued at $4,437,000 after purchasing an additional 124 shares in the last quarter. Finally, McIlrath & Eck LLC boosted its position in shares of Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the company's stock valued at $38,000 after purchasing an additional 145 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Key Headlines Impacting Primoris Services

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

• Positive Sentiment: KeyCorp kept an "overweight" rating on PRIM and set a new $137 price target (lowered from $179) — the maintained analyst support and remaining upside may attract buyers after the recent decline. KeyCorp price target story
• Positive Sentiment: Board/management capital-allocation items (locked-up stock awards) and a small quarterly dividend were highlighted in reporting, which some investors view as alignment of management incentives and a modest income signal. Directors locked-up stock awards
• Neutral Sentiment: Q1 revenue was reported at ~$1.6B (down ~5.4% YoY) with Utilities growth offsetting weakness in Energy — mixed operational signals that leave the longer-term outlook dependent on segment performance. Revenue summary
• Neutral Sentiment: Analysts are conflicted on industrial names including PRIM; expect divergent views and potential further target revisions as estimates settle after the quarter. Analysts conflicted
• Negative Sentiment: Q1 earnings missed expectations (EPS $0.59 vs. $0.87 consensus) and revenue missed estimates (~$1.56B vs. ~$1.73B expected). Management lowered FY‑2026 guidance (EPS 4.80–5.00), which triggered the initial sharp selloff and remains the primary proximate cause of elevated downside risk. Q1 earnings call summary
• Negative Sentiment: Shares plunged after the earnings miss and guidance cut as market participants priced in weaker near-term performance and higher execution risk. The large intraday moves reflect heightened volatility and forced selling/liquidity pressure. Shares plunge after miss
• Negative Sentiment: Multiple shareholder law firms have opened investigations into possible securities-law issues tied to the quarter and disclosures (Pomerantz, Block & Leviton, Ademi, Johnson Fistel, etc.). Litigation risk and potential discovery/exposure materially increase uncertainty and may weigh on the stock until resolved. Pomerantz investigation Block & Leviton investigation

Primoris Services Trading Up 6.3%

Primoris Services stock opened at $107.65 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $150.65. Primoris Services Corporation has a 12 month low of $67.15 and a 12 month high of $205.50. The company has a market capitalization of $5.84 billion, a P/E ratio of 23.71 and a beta of 1.50.

Primoris Services (NYSE:PRIM - Get Free Report) last released its earnings results 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 return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.98 earnings per share. 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. On average, equities research analysts predict that Primoris Services Corporation will post 5.73 EPS for the current year.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services's payout ratio is 6.36%.

Wall Street Analyst Weigh In

PRIM has been the topic of several research reports. Wells Fargo & Company lifted their price target on Primoris Services from $138.00 to $168.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. 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. Guggenheim lifted their price target on Primoris Services from $184.00 to $195.00 and gave the company a "buy" rating in a research report on Monday, April 20th. UBS Group lifted their price target on Primoris Services from $176.00 to $212.00 and gave the company a "buy" rating in a research report on Monday. Finally, Mizuho lifted their price target on Primoris Services from $128.00 to $143.00 and gave the company a "neutral" rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.33.

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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