Primoris Services (NASDAQ:PRIM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Primoris Services (NASDAQ:PRIM) had its price objective upped by equities researchers at Wells Fargo & Company from $138.00 to $168.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.01% from the company’s current price.

Several other equities research analysts have also commented on PRIM. Cantor Fitzgerald set a $160.00 target price on Primoris Services and gave the company a “neutral” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. UBS Group lifted 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. Mizuho increased their price target on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, KeyCorp boosted their target price on shares of Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $153.20.

Primoris Services Trading Down 2.1%

Shares of PRIM traded down $3.21 during mid-day trading on Thursday, reaching $149.99. 232,621 shares of the company were exchanged, compared to its average volume of 761,369. The business has a 50 day simple moving average of $145.01 and a two-hundred day simple moving average of $133.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $8.10 billion, a PE ratio of 49.80 and a beta of 1.37. Primoris Services has a 52 week low of $49.10 and a 52 week high of $174.43.

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

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $135.14, for a total value of $281,361.48. Following the transaction, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This represents a 8.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the sale, the director owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This trade represents a 9.50% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

Hedge funds have recently bought and sold shares of the stock. Uncommon Cents Investing LLC grew its stake in Primoris Services by 2.1% in the 3rd quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock worth $536,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Primoris Services by 30.1% in the fourth quarter. Cullen Frost Bankers Inc. now owns 350 shares of the construction company’s stock valued at $43,000 after acquiring an additional 81 shares during the last quarter. Assetmark Inc. raised its position in Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock valued at $131,000 after purchasing an additional 84 shares in the last quarter. Covestor Ltd lifted its stake in Primoris Services by 13.4% during the fourth quarter. Covestor Ltd now owns 719 shares of the construction company’s stock worth $89,000 after purchasing an additional 85 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Primoris Services by 1.1% in the 4th quarter. CWM LLC now owns 8,970 shares of the construction company’s stock worth $1,114,000 after purchasing an additional 96 shares in the last quarter. 91.82% of the stock is currently 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.