Primoris Services (NYSE:PRIM) Receives Buy Rating from Roth Capital

Roth Capital restated their buy rating on shares of Primoris Services (NYSE:PRIM) in a research note issued to investors on Monday,Benzinga reports. They currently have a $100.00 target price on the stock.

PRIM has been the topic of several other reports. UBS Group dropped their price target on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Wells Fargo & Company reduced their price objective on shares of Primoris Services from $118.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 23rd. Weiss Ratings cut shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Mizuho dropped their target price on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, June 23rd. Finally, Oppenheimer initiated coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They set an “outperform” rating and a $135.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $137.47.

Primoris Services Stock Performance

Shares of NYSE PRIM opened at $86.55 on Monday. Primoris Services has a 1 year low of $65.00 and a 1 year high of $205.50. The firm has a market cap of $4.70 billion, a P/E ratio of 19.06 and a beta of 1.41. The stock has a fifty day moving average price of $103.71 and a two-hundred day moving average price of $133.01. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 1.28.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Research analysts forecast that Primoris Services will post 1.88 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Primoris Services’s dividend payout ratio is currently 7.05%.

Insiders Place Their Bets

In other Primoris Services news, insider John M. Perisich sold 29,707 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the sale, the insider owned 27,574 shares in the company, valued at approximately $3,525,611.64. The trade was a 51.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Lee King sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director directly owned 14,941 shares of the company’s stock, valued at $1,779,323.69. This represents a 57.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Primoris Services by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after purchasing an additional 466,192 shares during the period. First Trust Advisors LP raised its stake in Primoris Services by 47.4% during 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 during the period. State Street Corp lifted its holdings in shares of Primoris Services by 56.8% in the fourth 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. Wellington Management Group LLP lifted its holdings in shares of Primoris Services by 163.0% in the fourth 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. Finally, Geode Capital Management LLC boosted its position in shares of Primoris Services by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock worth $164,526,000 after buying an additional 42,052 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

About Primoris Services

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.