Primoris Services Corporation (NYSE:PRIM) Receives $156.20 Consensus Price Target from Analysts

Primoris Services Corporation (NYSE:PRIM) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $156.20.

A number of research firms have recently issued reports on PRIM. Zacks Research downgraded shares of Primoris Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Wells Fargo & Company lowered their price objective on shares of Primoris Services from $168.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Weiss Ratings cut shares of Primoris Services from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. DA Davidson set a $180.00 price objective on shares of Primoris Services in a research report on Wednesday, February 25th. Finally, Needham & Company LLC lowered their price objective on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research report on Friday, May 8th.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $130.14 on Wednesday. Primoris Services has a 52 week low of $70.68 and a 52 week high of $205.50. The business’s fifty day simple moving average is $143.24 and its 200-day simple moving average is $139.81. The firm has a market cap of $7.06 billion, a PE ratio of 28.67 and a beta of 1.50. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.98 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts forecast that Primoris Services will post 4.55 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.2%. Primoris Services’s dividend payout ratio is presently 7.05%.

Hedge Funds Weigh In On Primoris Services

Several hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Primoris Services by 163.0% in the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after purchasing an additional 1,082,218 shares in the last quarter. First Trust Advisors LP raised its position in Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after purchasing an additional 928,155 shares in the last quarter. Norges Bank acquired a new stake in Primoris Services in the 4th quarter valued at about $103,368,000. State Street Corp raised its position in Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after purchasing an additional 728,646 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock valued at $804,361,000 after purchasing an additional 466,192 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Company Profile

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.