Primoris Services Corporation (NYSE:PRIM) Receives $153.20 Average Target Price from Analysts

Shares of Primoris Services Corporation (NYSE:PRIM) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $154.5333.

Several research analysts recently weighed in on PRIM shares. UBS Group increased their target price on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. upped their price target on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday. Guggenheim raised their price objective on Primoris Services from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Research lowered Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Finally, Wall Street Zen downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th.

Institutional Trading of Primoris Services

A number of institutional investors have recently added to or reduced their stakes in PRIM. SBI Securities Co. Ltd. raised its holdings in shares of Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after buying an additional 148 shares during the period. Harbour Investments Inc. purchased a new position in Primoris Services in the 4th quarter worth approximately $33,000. Osterweis Capital Management Inc. purchased a new position in Primoris Services in the 2nd quarter worth approximately $34,000. Blue Bell Private Wealth Management LLC acquired a new stake in Primoris Services in the third quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Primoris Services during the third quarter valued at approximately $37,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Stock Performance

PRIM opened at $148.23 on Tuesday. Primoris Services has a 1 year low of $49.10 and a 1 year high of $174.43. The business has a 50 day moving average of $149.31. The firm has a market capitalization of $8.04 billion, a PE ratio of 29.47 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.13 earnings per share. Primoris Services’s revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio is presently 6.36%.

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.