Primoris Services Co. (NASDAQ:PRIM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Primoris Services Co. (NASDAQ:PRIM) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $142.7143.

Several research firms have commented on PRIM. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $143.00 price objective (down previously from $145.00) on shares of Primoris Services in a research report on Monday, December 8th. Guggenheim upgraded shares of Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Tuesday, January 13th. Roth Capital initiated coverage on Primoris Services in a research report on Thursday, October 9th. They issued a “buy” rating and a $170.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and set a $161.00 price objective on shares of Primoris Services in a research note on Wednesday, November 5th. Finally, KeyCorp upped their price objective on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th.

Primoris Services Price Performance

NASDAQ:PRIM opened at $149.57 on Thursday. The business’s 50-day moving average is $127.96 and its 200 day moving average is $121.14. Primoris Services has a 12 month low of $49.10 and a 12 month high of $155.19. The company has a market capitalization of $8.08 billion, a P/E ratio of 49.53 and a beta of 1.36. 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 (NASDAQ:PRIM) last released its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.51. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.83 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, equities research analysts forecast that Primoris Services will post 3.26 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, December 31st. Primoris Services’s dividend payout ratio is presently 6.31%.

Insider Activity

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the transaction, the director owned 21,530 shares in the company, valued at $2,909,564.20. The trade was a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John P. Schauerman sold 7,815 shares of Primoris Services 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 transaction, the director directly owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This represents a 9.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,888 shares of company stock valued at $3,488,679 over the last ninety days. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRIM. First Trust Advisors LP lifted its stake in shares of Primoris Services by 56.4% during the 2nd quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock worth $142,872,000 after acquiring an additional 660,915 shares during the last quarter. American Century Companies Inc. increased its stake in Primoris Services by 229.3% in the second quarter. American Century Companies Inc. now owns 601,482 shares of the construction company’s stock worth $46,880,000 after purchasing an additional 418,805 shares during the period. Wellington Management Group LLP increased its stake in Primoris Services by 136.0% in the third quarter. Wellington Management Group LLP now owns 663,985 shares of the construction company’s stock worth $91,185,000 after purchasing an additional 382,597 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Primoris Services during the third quarter worth $50,071,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Primoris Services by 1,093.2% during the third quarter. Mackenzie Financial Corp now owns 380,340 shares of the construction company’s stock valued at $52,232,000 after purchasing an additional 348,465 shares during the period. 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.