Analysts Set Primoris Services Co. (NASDAQ:PRIM) Target Price at $153.20

Shares of Primoris Services Co. (NASDAQ:PRIM) have been given a consensus recommendation of “Moderate Buy” by the sixteen analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $153.20.

Several research analysts recently weighed in on the company. The Goldman Sachs Group raised 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. UBS Group boosted their price target on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Guggenheim upped their price target on shares of Primoris Services from $160.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. lifted their price objective on shares of Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 25th. Finally, Mizuho boosted their target price on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th.

Insider Activity

In other news, Director John P. Schauerman sold 7,815 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the completion of the sale, the director owned 74,466 shares in the company, valued at approximately $10,127,376. This represents a 9.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

A number of hedge funds and other institutional investors have recently modified their holdings of PRIM. NewEdge Advisors LLC raised its holdings in Primoris Services by 34.5% during the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock worth $43,000 after buying an additional 194 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Primoris Services by 7.4% in the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock worth $28,337,000 after acquiring an additional 33,934 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of Primoris Services during the first quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock valued at $9,650,000 after acquiring an additional 33,818 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Primoris Services by 2.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 46,353 shares of the construction company’s stock worth $3,613,000 after purchasing an additional 1,123 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of NASDAQ:PRIM opened at $133.11 on Friday. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 44.08 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. Primoris Services has a 12 month low of $49.10 and a 12 month high of $174.43. The stock’s 50 day moving average price is $147.42 and its 200 day moving average price is $134.89.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the company posted $1.13 EPS. The firm’s quarterly 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. Equities research analysts anticipate that Primoris Services will post 3.26 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

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

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.