Primoris Services Corporation (NYSE:PRIM) Receives $143.20 Average Target Price from Analysts

Shares of Primoris Services Corporation (NYSE:PRIM) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $142.1333.

PRIM has been the topic of several recent research reports. Oppenheimer assumed coverage on Primoris Services in a report on Tuesday, July 7th. They set an “outperform” rating and a $135.00 price objective on the stock. Mizuho dropped their target price on Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a research report on Tuesday, June 23rd. Wolfe Research reissued an “outperform” rating and set a $149.00 price target on shares of Primoris Services in a research note on Monday, June 15th. Zacks Research cut Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Finally, Wells Fargo & Company reduced their price target on Primoris Services from $118.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 23rd.

Primoris Services Price Performance

Shares of NYSE:PRIM opened at $85.33 on Thursday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 18.79 and a beta of 1.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50 day simple moving average of $107.57 and a 200 day simple moving average of $134.42. Primoris Services has a one year low of $65.00 and a one year high of $205.50.

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 analysts’ consensus estimates of $0.87 by ($0.28). The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts predict that Primoris Services will post 1.88 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services’s payout ratio is presently 7.05%.

Insider Buying and Selling

In other news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at approximately $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the business’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 sale, the insider directly owned 27,574 shares in the company, valued at approximately $3,525,611.64. This represents a 51.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Harbour Investments Inc. bought a new stake in Primoris Services in the fourth quarter worth approximately $33,000. Root Financial Partners LLC grew its position in shares of Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after buying an additional 69 shares during the period. Osterweis Capital Management Inc. acquired a new stake in shares of Primoris Services during the 2nd quarter worth approximately $34,000. Cullen Frost Bankers Inc. increased its stake in shares of Primoris Services by 30.1% in the 4th quarter. Cullen Frost Bankers Inc. now owns 350 shares of the company’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock valued at $43,000 after acquiring an additional 194 shares during the period. 91.82% of the stock is owned by institutional investors.

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.