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

Primoris Services Corporation (NYSE:PRIM) has received an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $156.20.

Several research analysts recently commented on PRIM shares. Wells Fargo & Company dropped their target price on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. Wolfe Research started coverage on shares of Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 target price on the stock. KeyCorp dropped their target price on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Needham & Company LLC dropped their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Primoris Services in a report on Tuesday.

Primoris Services Stock Performance

Shares of PRIM opened at $98.39 on Friday. The company has a market capitalization of $5.34 billion, a PE ratio of 21.67 and a beta of 1.36. Primoris Services has a one year low of $72.50 and a one year high of $205.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The company’s fifty day moving average price is $136.51 and its 200 day moving average price is $139.26.

Primoris Services (NYSE:PRIM) last announced its 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 firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. As a group, analysts expect that Primoris Services will post 4.55 earnings per share for the current year.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Primoris Services’s payout ratio is presently 7.05%.

Insider Activity

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 in the company, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Lee King sold 20,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRIM. GSA Capital Partners LLP acquired a new stake in shares of Primoris Services during the 3rd quarter valued at about $1,726,000. Nordea Investment Management AB acquired a new stake in shares of Primoris Services during the 4th quarter valued at about $7,181,000. New York State Teachers Retirement System boosted its position in shares of Primoris Services by 327.8% during the 4th quarter. New York State Teachers Retirement System now owns 20,892 shares of the company’s stock valued at $2,594,000 after acquiring an additional 16,008 shares in the last quarter. Principal Financial Group Inc. boosted its position in Primoris Services by 509.6% in the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after buying an additional 281,482 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Primoris Services by 2,338.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 314,426 shares of the company’s stock worth $39,033,000 after buying an additional 301,532 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

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.