Primoris Services Corporation (NYSE:PRIM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Primoris Services Corporation (NYSE:PRIM) have been given an average rating of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $153.20.

Several research analysts recently weighed in on the stock. Cantor Fitzgerald set a $160.00 price objective on shares of Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Zacks Research lowered shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Primoris Services in a research note on Tuesday, January 20th. Wells Fargo & Company increased their price target on shares of Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, The Goldman Sachs Group raised their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a research report on Wednesday, January 28th.

Hedge Funds Weigh In On Primoris Services

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

Primoris Services Stock Performance

Shares of PRIM stock opened at $134.71 on Tuesday. The stock has a market capitalization of $7.31 billion, a P/E ratio of 26.78 and a beta of 1.36. Primoris Services has a 52-week low of $49.10 and a 52-week high of $174.43. The stock has a fifty day simple moving average of $149.43. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM) last posted its earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Tuesday, March 31st. Primoris Services’s dividend payout ratio is presently 6.36%.

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.