Primoris Services (NASDAQ:PRIM) Price Target Raised to $168.00

Primoris Services (NASDAQ:PRIM) had its price objective increased by Wells Fargo & Company from $138.00 to $168.00 in a research report sent to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the construction company’s stock.

PRIM has been the subject of several other reports. The Goldman Sachs Group increased their price objective on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a report on Wednesday, January 28th. Mizuho upped their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday. Guggenheim raised their price target on Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, UBS Group increased their price target on shares of Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Trading Down 1.1%

NASDAQ:PRIM opened at $150.29 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $146.07 and a two-hundred day simple moving average of $133.64. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 49.77 and a beta of 1.37. Primoris Services has a 12 month low of $49.10 and a 12 month high of $174.43.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the business posted $1.13 EPS. Primoris Services’s quarterly revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Analysts expect that Primoris Services will post 3.26 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is presently 6.36%.

Insider Buying and Selling

In related news, Director Carla S. Mashinski sold 2,082 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was 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 of the company’s stock, valued at approximately $2,909,564.20. This trade represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Schauerman sold 7,815 shares of the business’s 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 sale, the director directly owned 74,466 shares in the company, valued at $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Uncommon Cents Investing LLC lifted its stake in shares of Primoris Services by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock worth $536,000 after buying an additional 80 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the construction company’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Assetmark Inc. raised its position in Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock worth $131,000 after acquiring an additional 84 shares during the period. Covestor Ltd lifted its stake in Primoris Services by 13.4% in the 4th quarter. Covestor Ltd now owns 719 shares of the construction company’s stock valued at $89,000 after buying an additional 85 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Primoris Services by 1.1% in the fourth quarter. CWM LLC now owns 8,970 shares of the construction company’s stock worth $1,114,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Company Profile

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.