Principal Financial Group Inc. Increases Stock Position in Primoris Services Corporation $PRIM

Principal Financial Group Inc. boosted its stake in Primoris Services Corporation (NYSE:PRIM) by 509.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 336,713 shares of the company’s stock after purchasing an additional 281,482 shares during the quarter. Principal Financial Group Inc.’s holdings in Primoris Services were worth $41,800,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Primoris Services in the 3rd quarter worth $1,726,000. J.W. Cole Advisors Inc. purchased a new stake in Primoris Services in the 3rd quarter worth $1,193,000. Nordea Investment Management AB purchased a new stake in Primoris Services in the 4th quarter worth $7,181,000. Leuthold Group LLC lifted its stake in Primoris Services by 1,350.3% in the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock worth $6,722,000 after purchasing an additional 45,572 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Primoris Services by 3.5% in the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company’s stock worth $49,422,000 after purchasing an additional 12,091 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Down 2.6%

Primoris Services stock opened at $105.19 on Friday. The business has a 50-day simple moving average of $150.65. Primoris Services Corporation has a twelve month low of $67.15 and a twelve 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 has a market cap of $5.70 billion, a P/E ratio of 23.17 and a beta of 1.50.

Primoris Services (NYSE:PRIM) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share 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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The business’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. As a group, sell-side analysts expect that Primoris Services Corporation will post 5.73 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim boosted 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. Wolfe Research began coverage on shares of Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 target price on the stock. Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. KeyCorp reduced their target price on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and an average target price of $160.87.

More 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

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.