Primoris Services (NYSE:PRIM) Stock Price Target Lowered at Oppenheimer

Primoris Services (NYSE:PRIM) had its price target lowered by Oppenheimer from $135.00 to $115.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

PRIM has been the topic of several other research reports. Piper Sandler started coverage on shares of Primoris Services in a research note on Wednesday, September 9th. They set a “neutral” rating and a $90.00 price target on the stock. Zacks Research raised shares of Primoris Services from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $105.00 price objective on shares of Primoris Services in a report on Tuesday, September 29th. Needham & Company LLC decreased their price objective on shares of Primoris Services from $172.00 to $110.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group reissued a “neutral” rating on shares of Primoris Services in a research report on Monday, August 10th. Ten equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $118.00.

Primoris Services Stock Down 13.0%

Shares of Primoris Services stock opened at $59.55 on Thursday. Primoris Services has a 1 year low of $57.72 and a 1 year high of $205.50. The company has a market cap of $3.21 billion, a P/E ratio of 33.64 and a beta of 1.44. The company has a current ratio of 1.14, a quick ratio of 1.18 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $74.78 and a 200 day moving average price of $111.75.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.39. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2 billion. Primoris Services had a net margin of 1.36% and a return on equity of 7.72%. The company’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.88 EPS. As a group, analysts expect that Primoris Services will post 1.77 EPS for the current fiscal year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.5%. Primoris Services’s payout ratio is currently 18.08%.

Institutional Investors Weigh In On Primoris Services

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Primoris Services during the second quarter worth about $677,685,000. Wellington Management Group LLP increased its stake in Primoris Services by 148.7% during the second quarter. Wellington Management Group LLP now owns 4,675,487 shares of the company’s stock valued at $463,434,000 after acquiring an additional 2,795,887 shares during the period. First Trust Advisors LP raised its holdings in Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after acquiring an additional 928,155 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in Primoris Services by 66.0% in the 3rd quarter. Van Berkom & Associates Inc. now owns 845,215 shares of the company’s stock valued at $62,985,000 after acquiring an additional 336,058 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC bought a new stake in shares of Primoris Services in the 2nd quarter worth approximately $3,482,000. 91.82% of the stock is currently owned by institutional investors.

Key Primoris Services News

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

• Positive Sentiment: Primoris reported third-quarter EPS of $1.20, above analyst estimates. Management expects Energy segment margins to recover to 10%–12% in 2027, which could support a later earnings rebound. Article: Primoris expects Energy segment margins to return to 10%–12% in 2027
• Neutral Sentiment: Analysts cut price targets, including Oppenheimer’s reduction to $115 and Needham’s to $110, but Oppenheimer maintained an Outperform rating and Cantor Fitzgerald kept a Hold rating. Oppenheimer analyst update Needham price target update Cantor Fitzgerald rating
• Negative Sentiment: The main concern is the 2026 outlook reset: projected EPS has been cut by more than half since June, with the company now guiding to $1.20–$1.35. That steep reduction is weighing on confidence in near-term earnings. Investor investigation notice
• Negative Sentiment: Third-quarter sales came in below analyst expectations, while EPS declined from $1.88 a year earlier. The mixed results offer less reassurance against the outlook reduction. Third-quarter results summary
• Negative Sentiment: A law firm has announced an investigation into whether investors received an accurate picture before the earnings resets, adding uncertainty and potential reputational risk. Investigation notice

About Primoris Services

Primoris Services Corporation (NYSE: PRIM) is a specialty contractor that provides construction, engineering, maintenance and fabrication services for critical infrastructure. The company serves customers in the energy, utilities and industrial markets, with work spanning power generation, power delivery, natural gas, renewable energy, petrochemical and industrial facilities.

Its services include utility and transmission construction, renewable energy development support, underground and overhead infrastructure, pipeline construction, facility maintenance, environmental services and specialty industrial construction.