Primoris Services (NYSE:PRIM) Given New $118.00 Price Target at Wells Fargo & Company

Primoris Services (NYSE:PRIM) had its price target lowered by Wells Fargo & Company from $168.00 to $118.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other equities research analysts also recently issued reports on PRIM. Needham & Company LLC lowered their price objective on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp lowered their price objective on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday. 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 objective on the stock. Weiss Ratings downgraded shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, The Goldman Sachs Group raised their price objective 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. One equities research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.87.

Primoris Services Stock Down 2.6%

Shares of PRIM stock opened at $105.19 on Friday. Primoris Services has a 12 month low of $67.15 and a 12 month high of $205.50. 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’s 50 day moving average is $150.65. The firm has a market capitalization of $5.70 billion, a P/E ratio of 23.17 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.98 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, equities analysts expect that Primoris Services will post 5.73 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.3%. Primoris Services’s payout ratio is currently 7.05%.

Institutional Investors Weigh In On Primoris Services

A number of institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC boosted its stake in Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in Primoris Services by 30.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock worth $43,000 after buying an additional 81 shares in the last quarter. Assetmark Inc. boosted its stake in Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock worth $131,000 after buying an additional 84 shares in the last quarter. Covestor Ltd boosted its stake in Primoris Services by 13.4% during the fourth 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 boosted its stake in Primoris Services by 1.1% during the fourth 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. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services News Roundup

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

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.