Primoris Services Corporation (NASDAQ:PRIM)‘s stock had its “hold” rating reiterated by investment analysts at KeyCorp in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued research reports about the company. TheStreet upgraded Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Canaccord Genuity lifted their price objective on Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Saturday, July 15th. Finally, BidaskClub upgraded Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.00.

Primoris Services Corporation (PRIM) opened at 28.52 on Tuesday. Primoris Services Corporation has a one year low of $18.71 and a one year high of $30.00. The firm has a 50-day moving average price of $27.08 and a 200-day moving average price of $24.69. The firm has a market cap of $1.47 billion, a PE ratio of 31.03 and a beta of 1.56.

Primoris Services Corporation (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The business had revenue of $631.20 million for the quarter, compared to the consensus estimate of $582.82 million. During the same quarter last year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, equities analysts expect that Primoris Services Corporation will post $1.19 EPS for the current fiscal year.

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In other news, Director Brian Pratt sold 105,734 shares of Primoris Services Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $28.20, for a total value of $2,981,698.80. Following the transaction, the director now owns 9,646,585 shares in the company, valued at $272,033,697. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 1,215,078 shares of company stock worth $34,384,543. Company insiders own 24.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRIM. Lord Abbett & CO. LLC grew its stake in shares of Primoris Services Corporation by 4.3% in the second quarter. Lord Abbett & CO. LLC now owns 1,352,384 shares of the construction company’s stock worth $33,728,000 after purchasing an additional 56,002 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Primoris Services Corporation in the second quarter worth about $1,410,000. Public Employees Retirement System of Ohio grew its stake in shares of Primoris Services Corporation by 8.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after purchasing an additional 320 shares during the last quarter. Susquehanna International Group LLP grew its stake in shares of Primoris Services Corporation by 193.8% in the second quarter. Susquehanna International Group LLP now owns 115,719 shares of the construction company’s stock worth $2,886,000 after purchasing an additional 76,335 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Primoris Services Corporation by 6.4% in the second quarter. State Street Corp now owns 766,590 shares of the construction company’s stock worth $19,115,000 after purchasing an additional 45,858 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

About Primoris Services Corporation

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Analyst Recommendations for Primoris Services Corporation (NASDAQ:PRIM)

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