Primoris Services (NYSE:PRIM) Releases Earnings Results

Key Points

• Primoris Services beat earnings expectations, reporting a quarterly loss of $0.27 per share versus the consensus estimate of a $0.35 loss. Revenue reached $1.69 billion, below analysts’ $1.73 billion forecast.
• The stock rose $3.06 to $90.90, but remains well below its 12-month high of $205.50. Analysts maintain a “Moderate Buy” consensus with an average price target of $137.47, despite several recent target cuts and mixed rating changes.
• Legal and insider-selling risks remain key concerns: investors are being solicited to join a securities class action alleging inadequate disclosure of renewable-energy project cost overruns and margin deterioration, while two insiders recently sold substantial portions of their holdings.

Primoris Services (NYSE:PRIM - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.08, FiscalAI reports. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.73 billion.

Primoris Services Price Performance

NYSE:PRIM traded up $3.06 on Tuesday, reaching $90.90. 1,462,272 shares of the company's stock traded hands, compared to its average volume of 1,452,280. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock has a 50-day simple moving average of $98.34 and a 200-day simple moving average of $129.89. The firm has a market cap of $4.93 billion, a PE ratio of 20.02 and a beta of 1.43. Primoris Services has a 12 month low of $65.00 and a 12 month high of $205.50.

Key Primoris Services News

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

• Positive Sentiment: Analysts maintain a consensus “Moderate Buy” recommendation, which may be supporting investor confidence despite the legal news. Primoris Services Given Consensus Recommendation of Moderate Buy
• Neutral Sentiment: Investors are awaiting Primoris’s quarterly earnings report, scheduled for Tuesday, for updated information on project execution, margins, and management’s outlook. The company’s most recently reported quarter missed consensus estimates, with earnings and revenue below expectations and revenue declining year over year. Primoris Services to Announce Quarterly Earnings
• Negative Sentiment: Several law firms are promoting the same securities class action and have announced a September 21, 2026, deadline for investors to seek lead-plaintiff status. If the allegations are substantiated, Primoris could face litigation costs, potential damages, management distraction, and further scrutiny of its renewable-energy project accounting and controls. The complaints allege that cost overruns and deteriorating margins were not disclosed promptly; the allegations have not been proven. Primoris Investor Alert and Class Action Lawsuit

Analyst Ratings Changes

A number of analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of Primoris Services from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $107.00 to $102.00 in a research note on Thursday, June 25th. Wall Street Zen downgraded shares of Primoris Services from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Wolfe Research restated an "outperform" rating and issued a $149.00 target price on shares of Primoris Services in a report on Monday, June 15th. Mizuho cut their target price on shares of Primoris Services from $135.00 to $117.00 and set an "outperform" rating for the company in a research report on Tuesday, June 23rd. Finally, UBS Group decreased their target price on shares of Primoris Services from $212.00 to $186.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Primoris Services has a consensus rating of "Moderate Buy" and an average price target of $137.47.

Insider Transactions at Primoris Services

In related news, Director David Lee King sold 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the completion of the sale, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the sale, the insider directly owned 27,574 shares in the company, valued at $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. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Primoris Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Primoris Services by 163.0% during the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company's stock valued at $216,774,000 after buying an additional 1,082,218 shares during the last quarter. State Street Corp increased its stake in Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company's stock worth $249,866,000 after acquiring an additional 728,646 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in Primoris Services by 2,856.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 273,605 shares of the company's stock worth $37,574,000 after acquiring an additional 264,349 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Primoris Services by 88.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 538,345 shares of the company's stock worth $66,830,000 after acquiring an additional 251,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Primoris Services by 63.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 612,154 shares of the company's stock worth $75,993,000 after acquiring an additional 237,427 shares in the last quarter. Institutional investors own 91.82% of the company's stock.

Primoris Services Company 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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