Primoris Services Corporation (NYSE:PRIM) Receives $143.20 Consensus Target Price from Analysts

Primoris Services Corporation (NYSE:PRIM) has received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $142.1333.

PRIM has been the topic of a number of research reports. Weiss Ratings lowered Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Cantor Fitzgerald reduced their target price on shares of Primoris Services from $124.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. Wells Fargo & Company decreased their price target on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 23rd. Oppenheimer started coverage on shares of Primoris Services in a research report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price target on the stock. Finally, UBS Group dropped their price objective on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research note on Monday, May 11th.

Insider Buying and Selling at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the transaction, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Lee King sold 20,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares of the company’s stock, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Primoris Services

A number of hedge funds have recently made changes to their positions in the stock. Harbour Investments Inc. acquired a new stake in Primoris Services in the 4th quarter valued at about $33,000. Root Financial Partners LLC increased its stake in shares of Primoris Services by 43.1% during the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the period. Osterweis Capital Management Inc. acquired a new stake in Primoris Services in the second quarter valued at approximately $34,000. Cullen Frost Bankers Inc. raised its holdings in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Primoris Services by 34.5% in the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Performance

NYSE PRIM opened at $90.42 on Thursday. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of 19.92 and a beta of 1.41. The stock has a 50-day moving average of $105.03 and a 200 day moving average of $133.86. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. Primoris Services has a twelve month low of $65.00 and a twelve month high of $205.50.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.Primoris Services’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Sell-side analysts anticipate that Primoris Services will post 1.88 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Primoris Services’s dividend payout ratio (DPR) is 7.05%.

About Primoris Services

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.