Primoris Services (NASDAQ:PRIM) Releases Earnings Results, Beats Estimates By $0.51 EPS

Primoris Services (NASDAQ:PRIM) posted its earnings results on Monday. The construction company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.51, Briefing.com reports. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The business’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. Primoris Services updated its FY 2025 guidance to 5.350-5.550 EPS.

Primoris Services Price Performance

Shares of PRIM traded up $2.22 during trading hours on Monday, reaching $143.74. 1,115,558 shares of the stock traded hands, compared to its average volume of 903,437. 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 52-week low of $49.10 and a 52-week high of $146.16. The company’s 50-day moving average price is $130.70 and its two-hundred day moving average price is $99.16. The company has a market cap of $7.76 billion, a P/E ratio of 47.60 and a beta of 1.43.

Insider Activity at Primoris Services

In related news, COO Jeremy Kinch sold 3,006 shares of Primoris Services stock in a transaction on 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 owned 9,580 shares in the company, valued at approximately $1,187,920. The trade was a 23.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $2,280,200.00. Following the sale, the director directly owned 82,281 shares in the company, valued at $9,380,856.81. This trade represents a 19.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 25,941 shares of company stock worth $3,004,821. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Osterweis Capital Management Inc. purchased a new position in Primoris Services in the 2nd quarter worth approximately $34,000. NewEdge Advisors LLC lifted its holdings in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after purchasing an additional 194 shares in the last quarter. Globeflex Capital L P purchased a new position in Primoris Services in the 2nd quarter worth approximately $102,000. EverSource Wealth Advisors LLC lifted its holdings in Primoris Services by 3,441.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,381 shares of the construction company’s stock worth $108,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in Primoris Services in the 2nd quarter worth approximately $267,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRIM has been the topic of several recent research reports. Mizuho set a $129.00 price objective on shares of Primoris Services in a research note on Tuesday, October 28th. Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Guggenheim reissued a “neutral” rating on shares of Primoris Services in a research report on Wednesday, October 15th. KeyCorp upped their price objective on Primoris Services from $129.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Needham & Company LLC began coverage on Primoris Services in a research report on Wednesday, October 22nd. They set a “buy” rating and a $175.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and a consensus target price of $135.23.

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.