Primoris Services Co. (NASDAQ:PRIM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Primoris Services Co. (NASDAQ:PRIM) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $144.9333.

Several equities analysts have recently issued reports on PRIM shares. The Goldman Sachs Group boosted their target price on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Guggenheim raised shares of Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Tuesday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research report on Wednesday, November 5th. DA Davidson boosted their price target on shares of Primoris Services from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Wells Fargo & Company started 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 for the company.

Insider Activity at Primoris Services

In other news, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the transaction, the director owned 74,466 shares in the company, valued at $10,127,376. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of Primoris Services stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the sale, the director owned 21,530 shares in the company, valued at $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRIM. SBI Securities Co. Ltd. boosted its stake in Primoris Services by 224.2% during the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after acquiring an additional 148 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Primoris Services during the third quarter valued at approximately $37,000. Blue Bell Private Wealth Management LLC bought a new stake in shares of Primoris Services in the 3rd quarter worth approximately $37,000. McIlrath & Eck LLC grew its stake in shares of Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock worth $38,000 after buying an additional 145 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its position in Primoris Services by 163.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 321 shares of the construction company’s stock valued at $44,000 after buying an additional 199 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Price Performance

PRIM stock opened at $160.87 on Monday. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 53.27 and a beta of 1.37. The firm’s 50-day moving average price is $136.15 and its two-hundred day moving average price is $127.49. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services has a 12-month low of $49.10 and a 12-month high of $161.07.

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.