Primoris Services (NYSE:PRIM) Hits New 12-Month Low - Time to Sell?

Key Points

• Primoris Services stock hit a new 52-week low after plunging to as low as $68.89, reflecting a sharp drop from its prior close of $108.34.
• The main driver of the selloff was a major guidance cut for 2026, as the company cited additional renewables cost overruns and delays and reduced its EPS outlook to $2.05-$2.60 from $4.80-$5.00.
• Despite the slump, some analysts still see value: KeyCorp reaffirmed a “sector weight” rating, and the stock still carries a “Moderate Buy” consensus, though several firms have trimmed price targets and insider selling has added pressure.

Shares of Primoris Services Corporation (NYSE:PRIM - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $68.89 and last traded at $66.4780, with a volume of 232308 shares traded. The stock had previously closed at $108.34.

Primoris Services News Roundup

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

• Positive Sentiment: KeyCorp reaffirmed its “sector weight” rating on Primoris Services, signaling the stock still has some analyst support despite the recent setback. Benzinga / Tickerreport.com coverage
• Neutral Sentiment: Broader market weakness and lower U.S. stock futures may also be adding pressure to PRIM along with other stocks in Tuesday’s pre-market trading. Benzinga article
• Negative Sentiment: Primoris slashed 2026 guidance after identifying additional renewables cost overruns and delays, including a reduced EPS outlook of $2.05-$2.60 from $4.80-$5.00 and lower EBITDA expectations, which is the main reason the stock has been falling. Business Wire business update
• Negative Sentiment: Law firms and investors are now highlighting potential securities-related investigations tied to the company’s disclosures, which can further weigh on sentiment. GlobeNewswire investigation

Analyst Ratings Changes

A number of research analysts recently weighed in on PRIM shares. UBS Group cut their price objective on Primoris Services from $212.00 to $186.00 and set a "buy" rating for the company in a research report on Monday, May 11th. Cantor Fitzgerald reissued a "neutral" rating on shares of Primoris Services in a report on Tuesday, June 9th. DA Davidson set a $180.00 target price on shares of Primoris Services in a research report on Wednesday, February 25th. Needham & Company LLC lowered their price target on shares of Primoris Services from $205.00 to $188.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Primoris Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $151.73.

Primoris Services Stock Down 32.5%

The firm's fifty day simple moving average is $130.63 and its 200-day simple moving average is $138.43. The company has a market cap of $3.97 billion, a PE ratio of 16.03 and a beta of 1.37. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM - Get Free Report) last issued 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). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period last year, the business earned $0.98 earnings per share. The company's revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities research analysts expect that Primoris Services Corporation will post 4.55 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

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 given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.4%. Primoris Services's dividend payout ratio (DPR) is presently 7.05%.

Insider Buying and Selling at Primoris Services

In other news, Director David Lee King sold 20,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the transaction, the director directly owned 14,941 shares of the company's stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the sale, the insider owned 27,574 shares in the company, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Primoris Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in Primoris Services by 4.4% in the first quarter. Bank of America Corp DE now owns 324,887 shares of the company's stock valued at $46,472,000 after purchasing an additional 13,617 shares during the last quarter. South Dakota Investment Council purchased a new position in Primoris Services during the first quarter worth about $1,116,000. Altshuler Shaham Ltd purchased a new position in Primoris Services during the first quarter worth about $118,000. Smith Group Asset Management LLC boosted its stake in Primoris Services by 4.6% in the 1st quarter. Smith Group Asset Management LLC now owns 9,428 shares of the company's stock worth $1,349,000 after buying an additional 413 shares during the last quarter. Finally, Amundi boosted its stake in Primoris Services by 183.1% in the 1st quarter. Amundi now owns 7,662 shares of the company's stock worth $1,096,000 after buying an additional 4,956 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company's stock.

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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