JPMorgan Chase & Co. Buys 85,044 Shares of Primoris Services Co. $PRIM

JPMorgan Chase & Co. grew its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 486,200 shares of the construction company’s stock after purchasing an additional 85,044 shares during the period. JPMorgan Chase & Co. owned approximately 0.90% of Primoris Services worth $66,770,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Primoris Services by 18.8% during the third quarter. PNC Financial Services Group Inc. now owns 9,864 shares of the construction company’s stock valued at $1,355,000 after buying an additional 1,558 shares during the last quarter. Balboa Wealth Partners purchased a new stake in shares of Primoris Services during the 3rd quarter worth approximately $256,000. Assetmark Inc. boosted its position in shares of Primoris Services by 9.7% during the 3rd quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock valued at $131,000 after acquiring an additional 84 shares during the last quarter. Leuthold Group LLC grew its holdings in shares of Primoris Services by 1,350.3% in the third quarter. Leuthold Group LLC now owns 48,947 shares of the construction company’s stock valued at $6,722,000 after purchasing an additional 45,572 shares in the last quarter. Finally, Cibc World Market Inc. bought a new stake in Primoris Services in the third quarter worth $312,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the company a “neutral” rating in a research report on Tuesday. Mizuho set a $129.00 price target on shares of Primoris Services in a report on Tuesday, October 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $143.00 price objective (down from $145.00) on shares of Primoris Services in a research note on Monday, December 8th. Wells Fargo & Company started coverage on Primoris Services in a research report on Friday, November 14th. They set an “equal weight” rating and a $138.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their target price on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.93.

More Primoris Services News

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

• Positive Sentiment: Q4 beat and revenue upside — Primoris reported $1.08 EPS vs. $0.95 expected and revenue of $1.86B (vs. $1.82B est.), showing revenue growth and margin resilience. This fundamental beat supports the company’s valuation and longer-term thesis. Zacks: Q4 Results
• Positive Sentiment: Record backlog and sector tailwinds — Management highlighted a record ~$11.9B backlog and growth in energy markets, which supports multi-year revenue visibility and the company’s long-cycle project pipeline. MSN: Backlog & Guidance
• Positive Sentiment: Dividend declared — Board approved a $0.08 quarterly cash dividend (ex-dividend Mar 31), a modest return of capital that can help support investor sentiment and income-focused holders. TipRanks: Dividend
• Neutral Sentiment: Mixed/updated FY2026 guidance reports — Company-released FY2026 EPS guidance has appeared in market write-ups in different ranges (one outlet citing $5.80–$6.00, another $5.35–$5.55). The discrepancy has created ambiguity that can drive intra-day volatility while investors parse management comments on the earnings call. (See earnings call transcript for detail.) Earnings Transcript
• Neutral Sentiment: Earnings call transparency — Transcripts from the Q4 call are available and will be the feedstock for analysts refining models; clarity on margins, backlog conversion and energy-market assumptions will affect near-term estimates. Seeking Alpha: Call Transcript
• Negative Sentiment: Legal / litigation uncertainty — A storm-restoration lawsuit involving FirstEnergy was transferred to federal court in Ohio, adding legal uncertainty and potential cost/distraction that investors may view as a risk to near-term cash flow or margins. Shore News Network: Lawsuit Transfer
• Negative Sentiment: Price reaction and elevated volume — Despite the beat and backlog, the stock is down on higher-than-normal volume; factors likely include guidance confusion, profit-taking after a run-up (12‑month high near $174), and at least one analyst price target that sits below current levels. Benzinga: Analyst Note

Insider Activity

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the transaction, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This represents a 8.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Schauerman sold 7,815 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the transaction, the director directly owned 74,466 shares in the company, valued at approximately $10,127,376. This trade represents a 9.50% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by insiders.

Primoris Services Stock Down 8.6%

Shares of NASDAQ:PRIM opened at $151.40 on Wednesday. The firm has a market capitalization of $8.18 billion, a PE ratio of 50.13 and a beta of 1.37. The business has a 50 day simple moving average of $144.43 and a two-hundred day simple moving average of $132.97. Primoris Services Co. has a 1 year low of $49.10 and a 1 year high of $174.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, equities analysts predict that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio (DPR) is 6.31%.

About Primoris Services

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.