Brokerages Set Primoris Services Corporation (NYSE:PRIM) PT at $156.20

Shares of Primoris Services Corporation (NYSE:PRIM) have earned an average rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $153.9333.

PRIM has been the subject of a number of research reports. 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 research note on Friday, May 8th. Weiss Ratings cut shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Primoris Services in a research report on Tuesday, June 9th. Zacks Research cut shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Finally, Needham & Company LLC lowered their price objective on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating on the stock in a research report on Friday, May 8th.

Primoris Services Stock Performance

Shares of PRIM stock opened at $101.75 on Friday. The stock’s 50-day moving average is $132.83 and its two-hundred day moving average is $138.70. The firm has a market cap of $5.52 billion, a price-to-earnings 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 posted its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Analysts predict that Primoris Services will post 4.55 earnings per share for the current year.

Primoris Services Announces Dividend

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

Insider Activity

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

Institutional Investors Weigh In On Primoris Services

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock worth $216,774,000 after buying an additional 1,082,218 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Primoris Services by 47.4% in the first quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after acquiring an additional 928,155 shares in the last quarter. Norges Bank purchased a new stake in shares of Primoris Services in the fourth quarter valued at about $103,368,000. State Street Corp increased its stake in shares of Primoris Services by 56.8% during the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock worth $249,866,000 after acquiring an additional 728,646 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Primoris Services by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after acquiring an additional 466,192 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

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.