Primoris Services (NASDAQ:PRIM) Issues Quarterly Earnings Results

Primoris Services (NASDAQ:PRIM) announced its earnings results on Monday. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.13, Briefing.com reports. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.During the same quarter in the previous year, the business earned $1.13 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Primoris Services updated its FY 2026 guidance to 5.800-6.000 EPS.

Primoris Services Trading Down 8.6%

Shares of NASDAQ PRIM opened at $151.40 on Wednesday. Primoris Services has a 1-year low of $49.10 and a 1-year high of $174.43. The business has a fifty day moving average price of $144.43 and a 200 day moving average price of $132.97. The stock has a market capitalization of $8.18 billion, a P/E ratio of 50.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Primoris Services’s payout ratio is presently 6.31%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PRIM. Jefferies Financial Group restated a “buy” rating and set a $161.00 price objective on shares of Primoris Services in a report on Wednesday, November 5th. Needham & Company LLC restated a “buy” rating on shares of Primoris Services in a report on Wednesday, November 5th. DA Davidson reiterated a “buy” rating and set a $150.00 price objective on shares of Primoris Services in a report on Tuesday. The Goldman Sachs Group upped their target price on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. Finally, Guggenheim raised shares of Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 price target for the company in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and a consensus target price of $144.93.

Insider Transactions at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the completion of the transaction, the director directly owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.40% of the company’s stock.

Institutional Trading of Primoris Services

A number of institutional investors have recently made changes to their positions in PRIM. Wellington Management Group LLP increased its position in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the construction company’s stock valued at $216,774,000 after buying an additional 1,082,218 shares in the last quarter. State Street Corp raised its position in shares of Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the construction company’s stock valued at $249,866,000 after purchasing an additional 728,646 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Primoris Services by 2,856.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 273,605 shares of the construction company’s stock worth $37,574,000 after purchasing an additional 264,349 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Primoris Services by 88.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 538,345 shares of the construction company’s stock worth $66,830,000 after purchasing an additional 251,925 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Primoris Services by 63.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 612,154 shares of the construction company’s stock worth $75,993,000 after purchasing an additional 237,427 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Company Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.