Analysts Set Primoris Services Corporation (NYSE:PRIM) Target Price at $156.20

Shares of Primoris Services Corporation (NYSE:PRIM) have earned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $153.9333.

Several equities analysts recently issued reports on the company. Wall Street Zen cut Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Wolfe Research reaffirmed an “outperform” rating and set a $149.00 price objective on shares of Primoris Services in a report on Monday, June 15th. Wells Fargo & Company reduced their price objective on Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Primoris Services in a research report on Tuesday, June 9th.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares of the company’s stock, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director directly owned 14,941 shares of the company’s stock, valued at $1,779,323.69. The trade was a 57.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

Several hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP purchased a new stake in shares of Primoris Services in the third quarter valued at $1,726,000. Nordea Investment Management AB purchased a new stake in Primoris Services during the fourth quarter valued at about $7,181,000. New York State Teachers Retirement System grew its position in Primoris Services by 327.8% during the fourth 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 during the period. Principal Financial Group Inc. grew its position in Primoris Services by 509.6% during the fourth quarter. Principal Financial Group Inc. now owns 336,713 shares of the company’s stock valued at $41,800,000 after acquiring an additional 281,482 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position 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 valued at $39,033,000 after acquiring an additional 301,532 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Performance

Shares of PRIM stock opened at $101.75 on Friday. The stock has a fifty day moving average price of $131.74 and a 200 day moving average price of $138.44. The stock has a market cap of $5.52 billion, a PE ratio of 22.41 and a beta of 1.36. Primoris Services has a 1 year low of $73.62 and a 1 year high of $205.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates 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 for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Sell-side analysts forecast that Primoris Services will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

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

About Primoris Services

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.