QRG Capital Management Inc. Boosts Stake in Primoris Services Corporation $PRIM

QRG Capital Management Inc. lifted its holdings in Primoris Services Corporation (NYSE:PRIM) by 95.4% in the 4th quarter, Holdings Channel reports. The firm owned 19,141 shares of the company’s stock after acquiring an additional 9,343 shares during the period. QRG Capital Management Inc.’s holdings in Primoris Services were worth $2,376,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PRIM. Vanguard Group Inc. raised its stake in shares of Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Primoris Services by 69.6% in the third quarter. American Century Companies Inc. now owns 1,019,856 shares of the company’s stock worth $140,057,000 after purchasing an additional 418,374 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Primoris Services by 136.0% in the third quarter. Wellington Management Group LLP now owns 663,985 shares of the company’s stock worth $91,185,000 after purchasing an additional 382,597 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Primoris Services by 1,093.2% in the third quarter. Mackenzie Financial Corp now owns 380,340 shares of the company’s stock worth $52,232,000 after purchasing an additional 348,465 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Primoris Services by 2,338.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after purchasing an additional 301,532 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Key Stories Impacting Primoris Services

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

• Positive Sentiment: KeyCorp kept an “overweight” rating on PRIM and set a new $137 price target (lowered from $179) — the maintained analyst support and remaining upside may attract buyers after the recent decline. KeyCorp price target story
• Positive Sentiment: Board/management capital-allocation items (locked-up stock awards) and a small quarterly dividend were highlighted in reporting, which some investors view as alignment of management incentives and a modest income signal. Directors locked-up stock awards
• Neutral Sentiment: Q1 revenue was reported at ~$1.6B (down ~5.4% YoY) with Utilities growth offsetting weakness in Energy — mixed operational signals that leave the longer-term outlook dependent on segment performance. Revenue summary
• Neutral Sentiment: Analysts are conflicted on industrial names including PRIM; expect divergent views and potential further target revisions as estimates settle after the quarter. Analysts conflicted
• Negative Sentiment: Q1 earnings missed expectations (EPS $0.59 vs. $0.87 consensus) and revenue missed estimates (~$1.56B vs. ~$1.73B expected). Management lowered FY‑2026 guidance (EPS 4.80–5.00), which triggered the initial sharp selloff and remains the primary proximate cause of elevated downside risk. Q1 earnings call summary
• Negative Sentiment: Shares plunged after the earnings miss and guidance cut as market participants priced in weaker near-term performance and higher execution risk. The large intraday moves reflect heightened volatility and forced selling/liquidity pressure. Shares plunge after miss
• Negative Sentiment: Multiple shareholder law firms have opened investigations into possible securities-law issues tied to the quarter and disclosures (Pomerantz, Block & Leviton, Ademi, Johnson Fistel, etc.). Litigation risk and potential discovery/exposure materially increase uncertainty and may weigh on the stock until resolved. Pomerantz investigation Block & Leviton investigation

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group boosted their price target on Primoris Services from $176.00 to $212.00 and gave the stock a “buy” rating in a research note on Monday. Mizuho boosted their price target on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson set a $180.00 price objective on Primoris Services in a research report on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price objective on Primoris Services from $138.00 to $168.00 and gave the company an “equal weight” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Primoris Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.33.

Primoris Services Stock Performance

Primoris Services stock opened at $107.65 on Friday. The stock has a market capitalization of $5.84 billion, a PE ratio of 23.71 and a beta of 1.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.26 and a current ratio of 1.28. Primoris Services Corporation has a one year low of $67.15 and a one year high of $205.50. The firm’s fifty day moving average price is $150.65.

Primoris Services (NYSE:PRIM) last posted 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). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, sell-side analysts predict that Primoris Services Corporation will post 5.73 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s payout ratio is currently 6.36%.

Primoris Services 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.