Primoris Services (NASDAQ:PRIM) Now Covered by Analysts at Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald initiated coverage on shares of Primoris Services (NASDAQ:PRIM) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $160.00 price target on the construction company’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 6.27% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Guggenheim raised shares of Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Tuesday, January 13th. Jefferies Financial Group restated a “buy” rating and set a $161.00 price target on shares of Primoris Services in a research report on Wednesday, November 5th. Roth Mkm assumed coverage on Primoris Services in a report on Thursday, October 9th. They set a “buy” rating and a $170.00 target price for the company. Needham & Company LLC reiterated a “buy” rating on shares of Primoris Services in a report on Wednesday, November 5th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.87.

Primoris Services Stock Down 0.7%

Shares of NASDAQ PRIM opened at $150.57 on Friday. 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 has a 12 month low of $49.10 and a 12 month high of $155.19. The firm has a market capitalization of $8.14 billion, a price-to-earnings ratio of 49.86 and a beta of 1.36. The business has a 50-day moving average of $129.66 and a 200-day moving average of $121.99.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.51. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. Sell-side analysts expect that Primoris Services will post 3.26 earnings per share for the current fiscal year.

Insider Activity

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 74,466 shares in the company, valued at $10,127,376. The trade was a 9.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the transaction, the director directly owned 21,530 shares in the company, valued at approximately $2,909,564.20. The trade was a 8.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,888 shares of company stock valued at $3,488,679 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Primoris Services

Several large investors have recently bought and sold shares of PRIM. SBI Securities Co. Ltd. lifted its position in Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after buying an additional 148 shares during the last quarter. Osterweis Capital Management Inc. bought a new stake in shares of Primoris Services in the 2nd quarter valued at about $34,000. Blue Bell Private Wealth Management LLC purchased a new stake in Primoris Services during the third quarter worth $37,000. Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services in the 3rd quarter valued at about $37,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Primoris Services by 85.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

About Primoris Services

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.