Primoris Services Corporation (NYSE:PRIM) Receives $156.20 Consensus Price Target from Brokerages

Shares of Primoris Services Corporation (NYSE:PRIM) have received a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $156.20.

PRIM has been the subject of a number of research reports. Mizuho upgraded Primoris Services from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $175.00 to $135.00 in a research report on Monday, May 11th. The Goldman Sachs Group raised their price objective on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Weiss Ratings downgraded Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. Guggenheim raised their price objective on Primoris Services from $184.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Needham & Company LLC reduced their price objective on Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research report on Friday, May 8th.

Institutional Trading of Primoris Services

A number of hedge funds have recently modified their holdings of PRIM. Bank of America Corp DE raised its holdings in shares of Primoris Services by 4.4% in the 1st quarter. Bank of America Corp DE now owns 324,887 shares of the company’s stock worth $46,472,000 after buying an additional 13,617 shares in the last quarter. South Dakota Investment Council acquired a new position in shares of Primoris Services in the 1st quarter worth approximately $1,116,000. Altshuler Shaham Ltd acquired a new position in shares of Primoris Services in the 1st quarter worth approximately $118,000. Smith Group Asset Management LLC raised its holdings in shares of Primoris Services by 4.6% in the 1st quarter. Smith Group Asset Management LLC now owns 9,428 shares of the company’s stock worth $1,349,000 after buying an additional 413 shares in the last quarter. Finally, Amundi raised its holdings in shares of Primoris Services by 183.1% in the 1st quarter. Amundi now owns 7,662 shares of the company’s stock worth $1,096,000 after buying an additional 4,956 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of NYSE:PRIM opened at $117.38 on Wednesday. The business has a 50 day moving average price of $143.61 and a 200 day moving average price of $139.91. Primoris Services has a twelve month low of $68.52 and a twelve month high of $205.50. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 25.85 and a beta of 1.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last announced its earnings results 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 business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Primoris Services’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts predict that Primoris Services will post 4.55 earnings per share for the current year.

Primoris Services Dividend Announcement

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

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.