Primoris Services (NASDAQ:PRIM) Price Target Raised to $133.00 at The Goldman Sachs Group

Primoris Services (NASDAQ:PRIM) had its price objective increased by The Goldman Sachs Group from $117.00 to $133.00 in a research note published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the construction company’s stock.

A number of other research analysts also recently commented on PRIM. KeyCorp increased their price objective on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Wells Fargo & Company assumed coverage on shares of Primoris Services in a research note on Friday, November 14th. They issued an “equal weight” rating and a $138.00 price target on the stock. UBS Group boosted their price objective on shares of Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. DA Davidson upped their target price on shares of Primoris Services from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Cantor Fitzgerald initiated coverage on shares of Primoris Services in a research report on Friday, January 23rd. They issued a “neutral” rating and a $160.00 target price on the stock. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.93.

Primoris Services Stock Down 1.9%

Shares of NASDAQ:PRIM opened at $149.05 on Wednesday. The firm’s 50 day moving average price is $132.13 and its 200 day moving average price is $124.06. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 49.35 and a beta of 1.36. Primoris Services has a fifty-two week low of $49.10 and a fifty-two week high of $155.19. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the business posted $1.22 EPS. The firm’s revenue was up 32.1% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, equities research 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 related news, CEO David Lee King sold 3,500 shares of the company’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $130.00, for a total value of $455,000.00. Following the completion of the sale, the chief executive officer owned 21,302 shares in the company, valued at $2,769,260. This represents a 14.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patricia K. Wagner sold 13,491 shares of Primoris Services stock in a transaction on Friday, November 7th. The shares were sold at an average price of $125.23, for a total transaction of $1,689,477.93. Following the completion of the transaction, the director owned 4,495 shares in the company, valued at approximately $562,908.85. This represents a 75.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 26,888 shares of company stock valued at $3,488,679. Insiders own 1.40% of the company’s stock.

Institutional Trading of Primoris Services

A number of hedge funds have recently added to or reduced their stakes in PRIM. SBI Securities Co. Ltd. increased its holdings in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Osterweis Capital Management Inc. acquired a new position in Primoris Services in the 2nd quarter valued at $34,000. Blue Bell Private Wealth Management LLC purchased a new position in Primoris Services during the 3rd quarter worth $37,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Primoris Services in the 3rd quarter worth $37,000. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Primoris Services by 85.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Company Profile

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.