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

Primoris Services Corporation (NYSE:PRIM) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $143.20.

Several equities research analysts recently issued reports on the company. Guggenheim reissued a “buy” rating and set a $162.00 price objective on shares of Primoris Services in a research note on Tuesday, June 23rd. KeyCorp reaffirmed a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. Oppenheimer assumed coverage on shares of Primoris Services in a research note on Tuesday. They issued an “outperform” rating and a $135.00 target price on the stock. JPMorgan Chase & Co. raised shares of Primoris Services from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $105.00 to $116.00 in a report on Monday, June 29th. Finally, Wells Fargo & Company cut their target price on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 23rd.

Primoris Services Stock Performance

NYSE PRIM opened at $89.75 on Thursday. Primoris Services has a 1 year low of $65.00 and a 1 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 stock has a market capitalization of $4.87 billion, a PE ratio of 19.77 and a beta of 1.41. The company’s 50 day simple moving average is $112.66 and its two-hundred day simple moving average is $135.28.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts predict that Primoris Services will post 1.88 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.08 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. Primoris Services’s payout ratio is presently 7.05%.

Insider Activity at Primoris Services

In related news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’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 sale, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

Several institutional investors have recently bought and sold shares of PRIM. Harbour Investments Inc. bought a new position in Primoris Services during the 4th quarter worth approximately $33,000. Root Financial Partners LLC increased its stake in shares of Primoris Services by 43.1% in the first quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the period. Osterweis Capital Management Inc. bought a new stake in Primoris Services during the 2nd quarter valued at $34,000. Cullen Frost Bankers Inc. boosted its position in Primoris Services by 30.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after buying an additional 81 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after acquiring an additional 194 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

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.