Primoris Services Corporation (NYSE:PRIM) Given Consensus Rating of “Moderate Buy” by Brokerages

Primoris Services Corporation (NYSE:PRIM) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $156.20.

A number of research firms recently issued reports on PRIM. Needham & Company LLC lowered their target price on Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. The Goldman Sachs Group lifted their target price on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th. KeyCorp lowered their target price on Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Finally, DA Davidson set a $180.00 target price on Primoris Services in a report on Wednesday, February 25th.

Institutional Investors Weigh In On Primoris Services

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after acquiring an additional 466,192 shares during the period. First Trust Advisors LP boosted its position in Primoris Services by 47.4% during the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock worth $412,837,000 after acquiring an additional 928,155 shares during the period. State Street Corp boosted its position in Primoris Services by 56.8% during the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after acquiring an additional 728,646 shares during the period. Wellington Management Group LLP boosted its position in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after acquiring an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC boosted its position in Primoris Services by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock worth $164,526,000 after acquiring an additional 42,052 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Performance

PRIM stock opened at $104.78 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 23.08 and a beta of 1.50. Primoris Services has a 1 year low of $68.52 and a 1 year high of $205.50. The stock’s fifty day moving average is $145.04 and its two-hundred day moving average is $140.54.

Primoris Services (NYSE:PRIM) last posted its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts predict that Primoris Services will post 4.49 EPS for the current year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is currently 7.05%.

Primoris Services Company Profile

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.