Primoris Services (NYSE:PRIM) Price Target Raised to $195.00

Primoris Services (NYSE:PRIM) had its target price boosted by Guggenheim from $184.00 to $195.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on PRIM. UBS Group upped their price target on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Mizuho upped their price target on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group upped their price target on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 31st. Finally, Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

Primoris Services Stock Performance

NYSE:PRIM opened at $171.30 on Monday. Primoris Services has a fifty-two week low of $57.43 and a fifty-two week high of $174.43. The company has a market cap of $9.29 billion, a PE ratio of 34.06 and a beta of 1.38. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $151.16.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business earned $1.13 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, research analysts forecast that Primoris Services will post 5.73 EPS for the current year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s payout ratio is currently 6.36%.

Hedge Funds Weigh In On Primoris Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. increased its holdings in Primoris Services by 224.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after buying an additional 148 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Primoris Services during the third quarter valued at $37,000. Harbour Investments Inc. acquired a new position in Primoris Services during the fourth quarter valued at $33,000. Blue Bell Private Wealth Management LLC acquired a new position in Primoris Services during the third quarter valued at $37,000. Finally, McIlrath & Eck LLC lifted its position in Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds 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.