Primoris Services sinks after guidance cut, renewables overruns deepen

Primoris Services Corporation (PRIM) is down 26.1% today. Here is some analysis on what might have caused this price movement.

Analysis: The sharp selloff appears tied to a major cut to Primoris’ 2026 outlook after the company disclosed additional cost overruns and delays in its renewables business. Investor sentiment also likely worsened because the update came alongside the departure of the chief operating officer, reinforcing concerns about execution.

Details:

Primoris said continued work on six troubled renewables projects uncovered additional challenges and overruns, with most of the impact expected to show up in second-quarter 2026 results.

The company slashed full-year guidance, including adjusted EPS to $2.05 to $2.60 from $4.80 to $5.00, and adjusted EBITDA to $275 million to $325 million from $480 million to $500 million.

Management said renewables revenue is now expected to be about $2.1 billion in 2026, down from about $3.0 billion in 2025, pointing to weaker revenue and gross profit in that business.

Offsets in the update included about $2.0 billion of new second-quarter project awards in energy markets tied to natural gas generation, industrial work, and electric construction, plus roughly $50 million of share repurchases at an average price near $111.29.

Sources:

Primoris Services Corporation, SEC, Business Wire

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PRIM Insider Trading Activity

$PRIM insiders have traded $PRIM stock on the open market 11 times in the past 6 months. Of those trades, 2 have been purchases and 9 have been sales.

Here’s a breakdown of recent trading of $PRIM stock by insiders over the last 6 months:

JOHN M. PERISICH (CHIEF LEGAL AND ADMIN OFFICER) has made 0 purchases and 6 sales selling 29,707 shares for an estimated $3,798,225.
DAVID LEE KING has made 0 purchases and 3 sales selling 20,000 shares for an estimated $2,381,801.
TERRY D MCCALLISTER has made 2 purchases buying 22 shares for an estimated $3,310 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$PRIM Hedge Fund Activity

We have seen 259 institutional investors add shares of $PRIM stock to their portfolio, and 290 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FIRST TRUST ADVISORS LP added 928,155 shares (+47.4%) to their portfolio in Q1 2026, for an estimated $132,763,291
NORGES BANK added 751,234 shares (+922.4%) to their portfolio in Q4 2025, for an estimated $93,258,188
VANGUARD GROUP INC added 466,192 shares (+7.8%) to their portfolio in Q4 2025, for an estimated $57,873,074
BOSTON PARTNERS removed 420,475 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $60,144,744
MILLENNIUM MANAGEMENT LLC added 399,037 shares (+22582.7%) to their portfolio in Q1 2026, for an estimated $57,078,252
LAZARD ASSET MANAGEMENT LLC removed 341,187 shares (-63.7%) from their portfolio in Q4 2025, for an estimated $42,354,954
ALYESKA INVESTMENT GROUP, L.P. added 296,815 shares (+inf%) to their portfolio in Q1 2026, for an estimated $42,456,417

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PRIM Congressional Stock Trading

Members of Congress have traded $PRIM stock 3 times in the past 6 months. Of those trades, 1 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $PRIM stock by members of Congress over the last 6 months:

REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 3 times. They made 1 purchase worth up to $15,000 on 03/03 and 2 sales worth up to $30,000 on 05/08, 02/18.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

$PRIM Analyst Ratings

Wall Street analysts have issued reports on $PRIM in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 05/08/2026

To track analyst ratings and price targets for $PRIM, check out Quiver Quantitative's $PRIM forecast page.

$PRIM Price Targets

Multiple analysts have issued price targets for $PRIM recently. We have seen 11 analysts offer price targets for $PRIM in the last 6 months, with a median target of $160.0.

Here are some recent targets:

Manish A. Somaiya from Cantor Fitzgerald set a target price of $124.0 on 05/19/2026
Maheep Mandloi from Mizuho set a target price of $135.0 on 05/11/2026
Steven Fisher from UBS set a target price of $186.0 on 05/11/2026
Sean Milligan from Needham set a target price of $188.0 on 05/08/2026
Jerry Revich from Wells Fargo set a target price of $118.0 on 05/08/2026
Sangita Jain from Keybanc set a target price of $137.0 on 05/07/2026
Joseph Osha from Guggenheim set a target price of $195.0 on 04/20/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.