Primoris Services (NYSE:PRIM) Sees Large Volume Increase – Here’s Why

Shares of Primoris Services Corporation (NYSE:PRIM) saw unusually-high trading volume on Thursday . Approximately 2,014,507 shares traded hands during mid-day trading, an increase of 111% from the previous session’s volume of 954,834 shares.The stock last traded at $107.73 and had previously closed at $101.23.

Key Primoris Services News

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

• Positive Sentiment: Premier PV, a Primoris Services subsidiary, said it reached $55 million in backlog, signaling continued project demand and potential future revenue. Article: Premier PV, a Primoris Services Corporation Company, Reaches $55 Million in Backlog
• Neutral Sentiment: Needham lowered its price target on Primoris from $205 to $188 but kept a Buy rating, suggesting analysts still see meaningful upside despite recent weakness.
• Neutral Sentiment: Wells Fargo cut its price target from $168 to $118 and maintained an Equal Weight rating, reflecting a more cautious near-term view while still implying some upside from current levels.
• Neutral Sentiment: Recent commentary on valuation after weak Q1 results and lower profit guidance highlights that the stock may now be trading on reduced expectations rather than growth momentum. Article: A Look At Primoris Services (PRIM) Valuation After Weak Q1 2026 Results And Lower Profit Guidance
• Negative Sentiment: Primoris reported Q1 revenue of $1.6 billion, which was down year over year, and the company’s earnings miss plus lowered guidance prompted a sharp re-rating of the stock. Article: Primoris Services Corporation Q1 2026 Earnings Call Summary
• Negative Sentiment: Multiple law firms announced investigations into possible securities-law violations at Primoris, adding an overhang that can pressure investor sentiment. Article: INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Primoris Services Corporation – PRIM Article: Primoris Services Corp. Investigated for Securities Fraud; Investors Should Contact Block & Leviton to Possibly Recover Losses

Analysts Set New Price Targets

PRIM has been the topic of a number of analyst reports. The Goldman Sachs Group upped their price target on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Wolfe Research initiated coverage on shares of Primoris Services in a research note on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price target on the stock. Weiss Ratings cut shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Guggenheim upped their price target on shares of Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Wall Street Zen cut shares of Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $160.87.

Primoris Services Trading Down 2.6%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 23.17 and a beta of 1.50. The stock’s 50 day moving average price is $150.65.

Primoris Services (NYSE:PRIM) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. Primoris Services’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, sell-side analysts anticipate that Primoris Services Corporation will post 5.73 earnings per share 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 paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Primoris Services’s dividend payout ratio is currently 7.05%.

Hedge Funds Weigh In On Primoris Services

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new stake in Primoris Services during the 3rd quarter valued at approximately $1,726,000. J.W. Cole Advisors Inc. purchased a new stake in Primoris Services during the 3rd quarter valued at approximately $1,193,000. Nordea Investment Management AB purchased a new stake in Primoris Services during the 4th quarter valued at approximately $7,181,000. Leuthold Group LLC grew its holdings in Primoris Services by 1,350.3% during the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock valued at $6,722,000 after buying an additional 45,572 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in Primoris Services by 3.5% during the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company’s stock valued at $49,422,000 after buying an additional 12,091 shares in the last quarter. 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.