Primoris Services Corporation (NASDAQ:PRIM) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $31.00.

PRIM has been the subject of several analyst reports. Zacks Investment Research raised Primoris Services from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Saturday, October 14th. Seaport Global Securities reissued a “buy” rating and issued a $32.00 price objective (up from $29.00) on shares of Primoris Services in a research note on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price objective on shares of Primoris Services in a research note on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Primoris Services in a research note on Tuesday, September 19th. Finally, BidaskClub downgraded Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th.

In other news, CEO David Lee King sold 9,077 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $27.43, for a total value of $248,982.11. Following the completion of the transaction, the chief executive officer now directly owns 6,242 shares of the company’s stock, valued at $171,218.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John P. Schauerman sold 29,456 shares of the company’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $28.76, for a total value of $847,154.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,513 shares of company stock valued at $2,606,860. 24.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in PRIM. Ameriprise Financial Inc. grew its holdings in shares of Primoris Services by 242.1% in the third quarter. Ameriprise Financial Inc. now owns 163,130 shares of the construction company’s stock valued at $4,800,000 after acquiring an additional 115,450 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Primoris Services by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,241,073 shares of the construction company’s stock valued at $65,932,000 after purchasing an additional 94,279 shares during the period. Goldman Sachs Group Inc. grew its holdings in Primoris Services by 113.3% during the second quarter. Goldman Sachs Group Inc. now owns 175,845 shares of the construction company’s stock valued at $4,385,000 after purchasing an additional 93,397 shares during the period. OxFORD Asset Management LLP bought a new position in Primoris Services during the second quarter valued at $2,326,000. Finally, Algert Global LLC bought a new position in Primoris Services during the third quarter valued at $2,512,000. 70.46% of the stock is owned by institutional investors.

Shares of Primoris Services (NASDAQ:PRIM) opened at $27.06 on Tuesday. The company has a market capitalization of $1,392.20, a P/E ratio of 21.65, a PEG ratio of 1.99 and a beta of 1.59. Primoris Services has a 52 week low of $21.83 and a 52 week high of $30.00. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, November 6th. The construction company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $608.31 million during the quarter, compared to the consensus estimate of $588.19 million. Primoris Services had a return on equity of 11.70% and a net margin of 2.68%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. equities research analysts predict that Primoris Services will post 1.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were issued a $0.06 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Primoris Services’s previous quarterly dividend of $0.06. This represents a $0.24 annualized dividend and a dividend yield of 0.89%. Primoris Services’s dividend payout ratio is currently 19.20%.

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Primoris Services Company Profile

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Analyst Recommendations for Primoris Services (NASDAQ:PRIM)

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