Primoris Services (NYSE:PRIM) Shares Gap Down - Here's Why

Key Points

• Primoris Services shares gapped down at the open, falling from a prior close of $122.82 to $117.56 and later trading near $112.67, with the move coming after a sharp recent drop from its 50-day and 200-day averages around $140.
• The company’s latest quarterly results missed Wall Street expectations, posting EPS of $0.59 versus $0.87 expected and revenue of $1.56 billion versus $1.73 billion expected, though it still issued FY 2026 guidance of 4.800-5.000 EPS.
• Analyst sentiment remains mixed but generally constructive: Primoris has an average “Moderate Buy” rating and a $156.20 average price target, while recent insider sales by a director and an executive added to investor focus on the stock.

Primoris Services Corporation (NYSE:PRIM - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $122.82, but opened at $117.56. Primoris Services shares last traded at $112.6690, with a volume of 505,475 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PRIM shares. Wolfe Research initiated coverage on Primoris Services in a research report on Thursday, April 9th. They set an "outperform" rating and a $183.00 target price on the stock. UBS Group lowered their price target 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 research report on Tuesday. JPMorgan Chase & Co. increased their price target on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. Finally, Mizuho raised Primoris Services from a "neutral" rating to an "outperform" rating and lowered their price target for the company from $175.00 to $135.00 in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $156.20.

Primoris Services Price Performance

The firm has a market capitalization of $5.44 billion, a PE ratio of 22.13 and a beta of 1.37. The business has a 50-day moving average of $140.15 and a 200 day moving average of $140.00. The company has a current ratio of 1.28, a quick 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 results on Tuesday, May 5th. The company reported $0.59 EPS 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 the consensus estimate of $1.73 billion. During the same quarter last year, the business posted $0.98 earnings per share. The business'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. As a group, research analysts anticipate that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Announces Dividend

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

Insider Buying and Selling at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the business's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company's stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 in the company, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PRIM. NewEdge Advisors LLC boosted its position in Primoris Services by 34.5% in 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. Goldman Sachs Group Inc. grew its position in shares of Primoris Services by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company's stock valued at $28,337,000 after purchasing an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Primoris Services during the 1st quarter valued at $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Primoris Services by 25.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company's stock valued at $9,650,000 after purchasing an additional 33,818 shares during the period. Finally, M&T Bank Corp bought a new stake in shares of Primoris Services during the 2nd quarter valued at $274,000. 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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