Primoris Services Corporation (NYSE:PRIM – Get Free Report) insider John Perisich sold 29,707 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the sale, the insider directly owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This represents a 51.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Primoris Services Trading Down 0.5%
Shares of PRIM traded down $0.68 during mid-day trading on Friday, reaching $125.93. The stock had a trading volume of 1,850,044 shares, compared to its average volume of 2,731,970. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. Primoris Services Corporation has a 52-week low of $70.68 and a 52-week high of $205.50. The business’s fifty day moving average is $142.50 and its 200 day moving average is $139.75. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 27.74 and a beta of 1.50.
Primoris Services (NYSE:PRIM – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, sell-side analysts predict that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.
Primoris Services Dividend Announcement
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on PRIM shares. Needham & Company LLC lowered their target price on shares of Primoris Services from $205.00 to $188.00 and set a “buy” rating for the company in a research note on Friday, May 8th. UBS Group lowered their target price on shares of Primoris Services from $212.00 to $186.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Mizuho raised shares of Primoris Services from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $175.00 to $135.00 in a research note on Monday, May 11th. DA Davidson set a $180.00 target price on shares of Primoris Services in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. increased their target price on shares of Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.20.
Read Our Latest Stock Analysis on PRIM
Institutional Trading of Primoris Services
Several hedge funds have recently made changes to their positions in PRIM. NewEdge Advisors LLC lifted its position in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after purchasing 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 worth about $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% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after purchasing an additional 33,818 shares in the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Primoris Services during the second quarter worth about $274,000. Institutional investors and hedge funds own 91.82% of the company’s stock.
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.
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