Guggenheim Reiterates Buy Rating on Primoris Services

Guggenheim analyst Joseph Osha has reiterated a buy rating on Primoris Services Corporation (NYSE:PRIM) with a price target of $162. This reiteration was made on June 23, 2026, as the stock traded at $108.34 on Tuesday. The analyst's continued confidence in Primoris underscores the potential for upside from its current levels.

Primoris Services Corporation Stock Up 30.4%

Shares of Primoris Services Corporation traded near $108.34 on Tuesday. The company, which operates in the Industrials sector, has a market cap of around $5.88 billion. Primoris's P/E ratio stands at 23.92, while its forward P/E is 18.28, indicating expectations of growth. The stock's beta is 1.383, suggesting it is somewhat more volatile than the market. Over the past year, the stock has seen a low of $73.90 and a high of $205.50. It also has a 50-day moving average of $134.59 and a 200-day moving average of $136.31.

Other Institutional Activity in Primoris Services

Several institutional investors have been active in Primoris Services recently. BlackRock, Inc. increased its holdings by 44,535 shares, bringing its total to 8,340,660 shares valued at approximately $1.19 billion. Vanguard Portfolio Management LLC opened a new position with 3,653,916 shares worth about $522.66 million. Fuller & Thaler Asset Management, Inc. reduced its stake by 71,347 shares, now holding 2,966,901 shares valued at $424.39 million. First Trust Advisors LP significantly increased its position by 928,155 shares, ending with 2,886,163 shares valued at $412.84 million.

Insider Buying and Selling at Primoris Services Corporation

There has been notable insider activity at Primoris Services. On May 27, 2026, CEO Koti Vadlamudi purchased 7,815 shares at an average price of $127.96. This transaction was not part of a pre-planned trading scheme. In contrast, Chief Legal and Administrative Officer John Perisich sold 29,707 shares on May 28, 2026, at an average price of $127.86.

Analysts Set New Price Targets

Guggenheim's reiteration of the buy rating is part of a broader analyst consensus. On May 19, 2026, Cantor Fitzgerald maintained a hold rating with a $124 target. UBS maintained a buy rating with a $186 target on May 11, while Mizuho upgraded the stock to buy with a $135 target on the same day. The consensus recommendation for Primoris is a buy, with a mean target price of $143.79 among 14 analysts.

About Primoris Services Corporation

Primoris Services Corporation is a major player in the Engineering & Construction industry, providing infrastructure services primarily in the United States and Canada. It operates through two segments: Utilities and Energy. The Utilities segment focuses on the installation and maintenance of gas, electric, and communication systems. The Energy segment delivers engineering, procurement, and construction services across various energy sectors. Founded in 1960, the company is headquartered in Dallas, Texas, and led by CEO Koti Vadlamudi.

Bottom Line

Guggenheim's reiterated buy rating with a $162 target for Primoris Services indicates continued confidence in the company's potential. Investors often watch such analyst actions closely as they can impact stock performance. It's important to remember that these ratings are based on past data and may not reflect current market conditions.