Primoris Services (NYSE:PRIM) Stock Price Down 6.7% - What's Next?

Key Points

• Primoris Services shares fell 6.7% on Wednesday, trading as low as $96.17 after closing at $103.90 the prior session. Volume was also well below average, with 461,729 shares traded versus a normal session volume of more than 1.2 million.
• The company’s latest quarterly results missed Wall Street estimates, with EPS of $0.59 versus the expected $0.87 and revenue of $1.56 billion versus $1.73 billion forecast. Primoris also reported year-over-year revenue decline of 5.4% and set FY 2026 guidance at 4.80-5.00 EPS.
• Analysts remain mixed but cautious: several firms cut price targets and ratings, while consensus still stands at Moderate Buy with an average price target of $156.20. The article also noted insider selling by two executives and a quarterly dividend of $0.08 per share.

Primoris Services Corporation (NYSE:PRIM - Get Free Report) shares fell 6.7% during trading on Wednesday . The company traded as low as $96.17 and last traded at $96.9670. 461,729 shares changed hands during trading, a decline of 62% from the average session volume of 1,223,522 shares. The stock had previously closed at $103.90.

Analyst Upgrades and Downgrades

A number of research firms have commented on PRIM. Needham & Company LLC lowered their target price on shares of Primoris Services from $205.00 to $188.00 and set a "buy" rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their target price on shares of Primoris Services from $165.00 to $171.00 and gave the stock a "neutral" rating in a report on Wednesday, April 1st. KeyCorp lowered 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, May 7th. Weiss Ratings lowered shares of Primoris Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. Finally, Wall Street Zen lowered shares of Primoris Services from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $156.20.

Primoris Services Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock's 50-day moving average is $139.35 and its 200 day moving average is $139.87. The firm has a market cap of $5.17 billion, a P/E ratio of 20.99 and a beta of 1.36.

Primoris Services (NYSE:PRIM - Get Free Report) last released its quarterly earnings data 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 net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Primoris Services's quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts predict that Primoris Services Corporation will post 4.55 earnings per share for the current year.

Primoris Services Dividend Announcement

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

Insiders Place Their Bets

In related news, Director David Lee King sold 20,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were 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 approximately $1,779,323.69. This represents a 57.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John M. Perisich sold 29,707 shares of the company's stock in a transaction 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 completion of the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primoris Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC boosted its stake in Primoris Services by 43.1% in the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company's stock worth $33,000 after purchasing an additional 69 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company's stock worth $43,000 after purchasing an additional 81 shares during the period. Assetmark Inc. boosted its stake in Primoris Services by 9.7% in the 3rd quarter. Assetmark Inc. now owns 953 shares of the company's stock worth $131,000 after purchasing an additional 84 shares during the period. Covestor Ltd lifted its position in Primoris Services by 13.4% during the 4th quarter. Covestor Ltd now owns 719 shares of the company's stock worth $89,000 after buying an additional 85 shares in the last quarter. Finally, CWM LLC lifted its position in Primoris Services by 1.1% during the 4th quarter. CWM LLC now owns 8,970 shares of the company's stock worth $1,114,000 after buying an additional 96 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

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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