Guggenheim Forecasts Strong Price Appreciation for Primoris Services (NASDAQ:PRIM) Stock

Primoris Services (NASDAQ:PRIM) had its price objective raised by equities researchers at Guggenheim from $160.00 to $170.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Guggenheim’s target price indicates a potential upside of 14.76% from the stock’s previous close.

A number of other research firms also recently weighed in on PRIM. KeyCorp raised their price target on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $143.00 price objective (down from $145.00) on shares of Primoris Services in a report on Monday, December 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $161.00 price objective on shares of Primoris Services in a research report on Wednesday, November 5th. Wells Fargo & Company initiated coverage on shares of Primoris Services in a research note on Friday, November 14th. They issued an “equal weight” rating and a $138.00 target price for the company. Finally, Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the stock a “neutral” rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.60.

Primoris Services Stock Down 2.5%

PRIM stock traded down $3.78 during midday trading on Wednesday, reaching $148.14. The company had a trading volume of 219,535 shares, compared to its average volume of 743,155. The company has a 50 day moving average of $144.43 and a two-hundred day moving average of $132.97. The company has a market capitalization of $8.00 billion, a P/E ratio of 48.86 and a beta of 1.37. Primoris Services has a 1 year low of $49.10 and a 1 year high of $174.43. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Primoris Services’s revenue for the quarter 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, equities research analysts expect that Primoris Services will post 3.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the company’s 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 in the company, valued at $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the transaction, the director owned 74,466 shares in the company, valued at $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

Institutional Trading of Primoris Services

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake 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 purchasing an additional 1,082,218 shares during the last quarter. Norges Bank bought a new position in shares of Primoris Services during the 4th quarter worth about $103,368,000. State Street Corp lifted its stake in shares of Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the construction company’s stock valued at $249,866,000 after buying an additional 728,646 shares during the period. First Trust Advisors LP lifted its stake in shares of Primoris Services by 56.4% in the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock valued at $142,872,000 after buying an additional 660,915 shares during the period. Finally, Vanguard Group Inc. grew its position in Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the construction company’s stock worth $804,361,000 after buying an additional 466,192 shares in the last quarter. Institutional investors 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.