Primoris Services Co. (NASDAQ:PRIM) Given Average Rating of “Moderate Buy” by Analysts

Primoris Services Co. (NASDAQ:PRIM) has received an average recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $140.5714.

A number of brokerages recently issued reports on PRIM. Wells Fargo & Company began coverage on shares of Primoris Services in a research report on Friday, November 14th. They set an “equal weight” rating and a $138.00 target price on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $143.00 price target (down previously from $145.00) on shares of Primoris Services in a research note on Monday, December 8th. KeyCorp lifted their price objective on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Guggenheim reiterated a “neutral” rating on shares of Primoris Services in a research note on Wednesday, October 15th. Finally, UBS Group increased their target price on Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st.

Primoris Services Stock Up 1.0%

Shares of NASDAQ PRIM opened at $125.40 on Friday. The business has a 50-day moving average price of $129.83 and a 200 day moving average price of $112.62. The stock has a market cap of $6.78 billion, a PE ratio of 41.52 and a beta of 1.37. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services has a 52-week low of $49.10 and a 52-week high of $146.16.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.51. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. Equities research analysts forecast that Primoris Services will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, December 31st. Primoris Services’s payout ratio is currently 6.31%.

Insider Activity

In related news, Director Patricia K. Wagner sold 13,491 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $125.23, for a total value of $1,689,477.93. Following the transaction, the director owned 4,495 shares in the company, valued at approximately $562,908.85. The trade was a 75.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Lee King sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $130.00, for a total transaction of $455,000.00. Following the sale, the chief executive officer directly owned 21,302 shares of the company’s stock, valued at $2,769,260. The trade was a 14.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,888 shares of company stock valued at $3,488,679 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

Several large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its stake in shares of Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Brooklyn Investment Group grew its position in Primoris Services by 3,626.7% in the 1st quarter. Brooklyn Investment Group now owns 559 shares of the construction company’s stock valued at $32,000 after buying an additional 544 shares in the last quarter. Osterweis Capital Management Inc. acquired a new position in Primoris Services during the 2nd quarter valued at about $34,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Primoris Services during the 3rd quarter worth about $37,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

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.