Goldman Sachs Upgrades Primoris Services to Hold

Goldman Sachs analyst Adam Bubes has upgraded Primoris Services Corporation (NYSE:PRIM) to a hold rating, setting a price target of $102. This change was announced on June 25, 2026. The firm did not have a prior target listed.

Other Institutional Activity in Primoris Services

Several major funds have also been active in Primoris Services. BlackRock, Inc. increased its holdings by 44,535 shares, bringing its total to 8,340,660 shares valued at approximately $1.19 billion, a 0.5% increase. Vanguard Portfolio Management LLC opened a new position with 3,653,916 shares worth about $522.7 million. Fuller & Thaler Asset Management, Inc. reduced its stake by 71,347 shares, holding 2,966,901 shares valued at $424.4 million, marking a 2.3% decrease. First Trust Advisors LP significantly grew its position by 928,155 shares, now holding 2,886,163 shares worth $412.8 million, a 47.4% increase.

Primoris Services Corporation Stock Up 33.0%

Shares of NYSE:PRIM traded near $92.69 on Thursday. Primoris Services has a market cap of $5.88 billion and a P/E ratio of 23.9, with a forward P/E of 18.3. The stock's 52-week range is between $73.90 and $205.50. It has a 50-day moving average of $134.59 and a 200-day moving average of $136.31. The company's financial health shows a current ratio of 1.28 and a quick ratio of 1.18, with a debt-to-equity ratio of 55.11.

Recent Earnings

Primoris Services reported revenue of $7.49 billion, with a slight decline of 5.4% in revenue growth. The company's net margin stands at 3.3%, and it achieved a return on equity of 15.9%. Earnings per share were $4.53. The next earnings report is scheduled for August 3, 2026.

Dividend

Primoris Services offers an annual dividend rate of $0.32, yielding 0.32%. The dividend payout ratio is relatively low at 7.06%.

Insider Buying and Selling at Primoris Services Corporation

There have been notable insider transactions at Primoris Services. On May 27, 2026, CEO Koti Vadlamudi purchased 7,815 shares at an average price of $127.96. On the same day, Chief Legal and Admin Officer John Perisich sold 29,707 shares at $127.86. Additionally, on May 26, 2026, David Lee King sold 20,000 shares at $119.09.

Analysts Set New Price Targets

On June 25, 2026, Cantor Fitzgerald maintained its hold rating with a $100 target for Primoris Services. Previously on June 23, 2026, Mizuho maintained a buy rating with a $117 target, and Wells Fargo maintained a hold with an $85 target. The consensus among analysts is a buy recommendation with a mean target price of $143.79, based on 14 analyst opinions.

About Primoris Services Corporation

Primoris Services Corporation provides infrastructure services mainly in the United States and Canada, operating in the Utilities and Energy segments. The Utilities segment focuses on installing and maintaining natural gas and electric utility systems, while the Energy segment offers engineering and construction services for energy and renewable sectors. Founded in 1960, the company is headquartered in Dallas, Texas, and led by CEO Mr. Koti Vadlamudi, with about 18,526 employees.

Bottom Line

Goldman Sachs' upgrade of Primoris Services to a hold rating reflects its adjusted outlook, with a new price target of $102. Investors watch such analyst moves closely, as they can influence market perceptions. It's important to remember that these ratings are based on past performance and may not reflect current conditions.