Primoris Services (NASDAQ:PRIM) Releases FY 2025 Earnings Guidance

Primoris Services (NASDAQ:PRIM) updated its FY 2025 earnings guidance on Monday. The company provided EPS guidance of 5.350-5.550 for the period. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PRIM. Glj Research initiated coverage on shares of Primoris Services in a research note on Monday, September 22nd. They set a “buy” rating and a $160.00 price target on the stock. Zacks Research cut Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. lifted their price target on Primoris Services from $128.00 to $141.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Mizuho set a $129.00 price target on shares of Primoris Services in a research report on Tuesday, October 28th. Finally, DA Davidson increased their target price on shares of Primoris Services from $85.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.23.

Primoris Services Stock Performance

PRIM traded up $2.22 during trading on Monday, hitting $143.74. The company’s stock had a trading volume of 1,112,581 shares, compared to its average volume of 903,289. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services has a one year low of $49.10 and a one year high of $146.16. The firm has a market cap of $7.76 billion, a PE ratio of 47.60 and a beta of 1.43. The business’s 50 day simple moving average is $130.12 and its 200-day simple moving average is $98.55.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, August 4th. The construction company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.58. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. As a group, sell-side analysts predict that Primoris Services will post 3.26 EPS for the current fiscal year.

Insider Activity at Primoris Services

In related news, COO Jeremy Kinch sold 3,006 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $124.00, for a total transaction of $372,744.00. Following the transaction, the chief operating officer directly owned 9,580 shares in the company, valued at approximately $1,187,920. The trade was a 23.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $114.01, for a total transaction of $2,280,200.00. Following the completion of the transaction, the director owned 82,281 shares of the company’s stock, valued at $9,380,856.81. This trade represents a 19.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,941 shares of company stock worth $3,004,821 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

Large investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board boosted its position in shares of Primoris Services by 0.3% in the second quarter. Public Sector Pension Investment Board now owns 119,101 shares of the construction company’s stock worth $9,283,000 after buying an additional 334 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Primoris Services by 15.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 14,065 shares of the construction company’s stock valued at $1,099,000 after purchasing an additional 1,877 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Primoris Services by 506.7% in the second quarter. Tower Research Capital LLC TRC now owns 7,426 shares of the construction company’s stock valued at $579,000 after purchasing an additional 6,202 shares during the last quarter. Scott Marsh Financial LLC bought a new stake in Primoris Services during the 2nd quarter worth approximately $612,000. Finally, Man Group plc increased its stake in Primoris Services by 109.0% in the 2nd quarter. Man Group plc now owns 161,820 shares of the construction company’s stock valued at $12,612,000 after buying an additional 84,385 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.