Primoris Services Corp. (NASDAQ:PRIM)‘s stock had its “hold” rating restated by research analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday.

A number of other equities analysts have also recently issued reports on PRIM. Zacks Investment Research cut Primoris Services Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. DA Davidson cut Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th. Finally, Seaport Global Securities raised Primoris Services Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $24.00 in a research note on Thursday, August 25th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.80.

Analyst Recommendations for Primoris Services Corp. (NASDAQ:PRIM)

Primoris Services Corp. (NASDAQ:PRIM) traded down 1.12% during trading on Wednesday, hitting $19.49. The stock had a trading volume of 277,427 shares. The stock has a 50 day moving average of $19.81 and a 200 day moving average of $20.37. Primoris Services Corp. has a one year low of $16.13 and a one year high of $25.25. The firm has a market capitalization of $1.01 billion, a P/E ratio of 25.68 and a beta of 1.70.

Primoris Services Corp. (NASDAQ:PRIM) last issued its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by $0.12. Primoris Services Corp. had a return on equity of 8.14% and a net margin of 2.03%. The firm earned $456.81 million during the quarter, compared to analyst estimates of $516.76 million. During the same period in the previous year, the company earned $0.07 EPS. Primoris Services Corp.’s revenue for the quarter was down 5.5% on a year-over-year basis. Equities research analysts expect that Primoris Services Corp. will post $0.75 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.055 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.22 annualized dividend and a dividend yield of 1.13%. Primoris Services Corp.’s payout ratio is 28.95%.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Primoris Services Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 2,893,615 shares of the company’s stock valued at $54,776,000 after buying an additional 74,595 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Primoris Services Corp. by 5.2% in the first quarter. Wellington Management Group LLP now owns 2,677,601 shares of the company’s stock valued at $65,065,000 after buying an additional 133,143 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of Primoris Services Corp. by 13.4% in the second quarter. Van Berkom & Associates Inc. now owns 2,223,977 shares of the company’s stock valued at $42,100,000 after buying an additional 262,147 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Primoris Services Corp. by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,163 shares of the company’s stock valued at $37,919,000 after buying an additional 149,869 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of Primoris Services Corp. by 3.3% in the second quarter. Macquarie Group Ltd. now owns 1,874,790 shares of the company’s stock valued at $35,490,000 after buying an additional 59,319 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.

About Primoris Services Corp.

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.

5 Day Chart for NASDAQ:PRIM

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