Primoris Services Corporation (NYSE:PRIM) Receives $153.20 Average PT from Brokerages

Primoris Services Corporation (NYSE:PRIM) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $154.5333.

A number of equities analysts have weighed in on the company. Mizuho boosted their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. UBS Group lifted their price target on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. increased their price objective on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research report on Wednesday. DA Davidson set a $180.00 target price on shares of Primoris Services in a report on Wednesday, February 25th. Finally, Cantor Fitzgerald set a $160.00 target price on shares of Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday, February 24th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its stake in shares of Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after purchasing an additional 148 shares during the period. Harbour Investments Inc. bought a new position in shares of Primoris Services in the 4th quarter worth approximately $33,000. Osterweis Capital Management Inc. bought a new position in shares of Primoris Services in the 2nd quarter worth approximately $34,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of Primoris Services in the third quarter worth approximately $37,000. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Primoris Services in the third quarter worth approximately $37,000. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 0.3%

PRIM stock opened at $148.23 on Tuesday. The company has a 50 day simple moving average of $149.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. Primoris Services has a 12-month low of $49.10 and a 12-month high of $174.43. The company has a market cap of $8.04 billion, a PE ratio of 29.47 and a beta of 1.38.

Primoris Services (NYSE:PRIM) last posted its earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. 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. Investors of record on Tuesday, March 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Primoris Services’s 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.