Primoris Services Corporation (NYSE:PRIM) Receives $156.20 Average Target Price from Analysts

Primoris Services Corporation (NYSE:PRIM) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $156.20.

PRIM has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Zacks Research lowered shares of Primoris Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wolfe Research started coverage on shares of Primoris Services in a report on Thursday, April 9th. They issued an “outperform” rating and a $183.00 target price on the stock. UBS Group lowered their target price on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a report on Monday, May 11th. Finally, The Goldman Sachs Group upped their target price on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $117.38 on Wednesday. The firm’s 50-day moving average price is $143.61 and its 200-day moving average price is $139.88. Primoris Services has a 1-year low of $68.52 and a 1-year high of $205.50. The firm has a market capitalization of $6.37 billion, a P/E ratio of 25.85 and a beta of 1.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings data 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). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the company posted $0.98 EPS. Primoris Services’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities research analysts anticipate that Primoris Services will post 4.55 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

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

Institutional Investors Weigh In On Primoris Services

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Primoris Services by 7.8% in the 4th 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 last quarter. First Trust Advisors LP increased its stake in Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after buying an additional 928,155 shares during the last quarter. State Street Corp increased its stake in Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after buying an additional 728,646 shares during the last quarter. Wellington Management Group LLP increased its stake in Primoris Services by 163.0% in the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after buying an additional 1,082,218 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Primoris Services by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock valued at $164,526,000 after buying an additional 42,052 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 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.