Primoris Services Corp. (NASDAQ:PRIM) has been assigned a consensus rating of “Buy” from the seven brokerages that are covering the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $24.00.

Several equities research analysts have commented on PRIM shares. DA Davidson lowered Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Zacks Investment Research upgraded Primoris Services Corp. from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 6th. Seaport Global Securities upgraded Primoris Services Corp. from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $24.00 in a research report on Thursday, August 25th. Finally, Canaccord Genuity restated a “hold” rating on shares of Primoris Services Corp. in a research report on Wednesday.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LaSalle Street Capital Management LLC raised its position in shares of Primoris Services Corp. by 1.7% in the second quarter. LaSalle Street Capital Management LLC now owns 19,791 shares of the company’s stock worth $375,000 after buying an additional 327 shares during the period. Anchor Capital Advisors LLC raised its position in shares of Primoris Services Corp. by 0.7% in the second quarter. Anchor Capital Advisors LLC now owns 47,903 shares of the company’s stock worth $907,000 after buying an additional 346 shares during the period. American International Group Inc. raised its position in shares of Primoris Services Corp. by 2.0% in the second quarter. American International Group Inc. now owns 23,178 shares of the company’s stock worth $439,000 after buying an additional 457 shares during the period. BlackRock Advisors LLC raised its position in shares of Primoris Services Corp. by 5.1% in the second quarter. BlackRock Advisors LLC now owns 18,889 shares of the company’s stock worth $358,000 after buying an additional 915 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Primoris Services Corp. by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 5,770 shares of the company’s stock worth $109,000 after buying an additional 997 shares during the period. Hedge funds and other institutional investors own 74.49% of the company’s stock.

Shares of Primoris Services Corp. (NASDAQ:PRIM) opened at 19.49 on Monday. The stock’s 50 day moving average is $19.84 and its 200 day moving average is $20.37. Primoris Services Corp. has a 52-week low of $16.13 and a 52-week high of $25.25. The company has a market cap of $1.01 billion, a PE ratio of 25.68 and a beta of 1.70.

Primoris Services Corp. (NASDAQ:PRIM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business earned $456.81 million during the quarter, compared to analyst estimates of $516.76 million. During the same quarter last year, the company posted $0.07 EPS. Primoris Services Corp.’s quarterly revenue was down 5.5% compared to the same quarter last year. Equities analysts forecast that Primoris Services Corp. will post $0.75 EPS for the current year.

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

Primoris Services Corp. Company Profile

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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