Wells Fargo & Company Forecasts Strong Price Appreciation for Primoris Services (NASDAQ:PRIM) Stock

Primoris Services (NASDAQ:PRIM) had its target price hoisted by research analysts at Wells Fargo & Company from $138.00 to $168.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 12.01% from the company’s current price.

Several other research analysts have also weighed in on the company. Mizuho lifted their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. KeyCorp increased their target price on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Jefferies Financial Group reiterated a “buy” rating and issued a $161.00 price target on shares of Primoris Services in a report on Wednesday, November 5th. Finally, UBS Group raised their price objective on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Trading Down 2.1%

Shares of PRIM stock traded down $3.21 on Thursday, reaching $149.99. The company had a trading volume of 232,621 shares, compared to its average volume of 761,369. The stock has a market cap of $8.10 billion, a PE ratio of 49.80 and a beta of 1.37. The company has a 50-day moving average of $145.01 and a 200-day moving average of $133.11. 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 has a 12 month low of $49.10 and a 12 month high of $174.43.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, February 23rd. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. On average, equities analysts forecast that Primoris Services will post 3.26 earnings per share for the current year.

Insider Buying and Selling at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were 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 in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of Primoris Services stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the transaction, the director directly owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. This trade represents a 8.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Primoris Services

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its stake in Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after acquiring an additional 148 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in Primoris Services in the 3rd quarter valued at approximately $37,000. Harbour Investments Inc. acquired a new stake in Primoris Services in the fourth quarter valued at approximately $33,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Primoris Services during the third quarter worth $37,000. Finally, McIlrath & Eck LLC lifted its stake in shares of Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock valued at $38,000 after acquiring an additional 145 shares during the last quarter. 91.82% of the stock is owned by institutional investors.

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.