Primoris Services Co. (NASDAQ:PRIM) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Primoris Services Co. has received a consensus rating of "Moderate Buy" from twelve brokerages, with three holding and nine recommending buy ratings, and an average target price of $113.18.
• For Q2, Primoris reported $1.68 EPS, exceeding expectations and marking a 20.9% revenue increase year-over-year, with guidance set for FY 2025 EPS between $4.90 and $5.10.
• Recently, insiders sold a total of 25,941 shares valued at over $3 million, indicating a decrease in their ownership stake in the company.

Primoris Services Co. (NASDAQ:PRIM - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $113.1818.

Several equities research analysts have recently issued reports on the company. DA Davidson lifted their target price on Primoris Services from $85.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Janney Montgomery Scott started coverage on Primoris Services in a report on Thursday, July 3rd. They issued a "buy" rating and a $102.00 target price on the stock. Zacks Research cut Primoris Services from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. UBS Group boosted their price objective on Primoris Services from $135.00 to $158.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Finally, Guggenheim boosted their price objective on Primoris Services from $110.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday, August 19th.

Primoris Services Trading Up 2.2%

Shares of PRIM stock opened at $139.85 on Tuesday. Primoris Services has a 12-month low of $49.10 and a 12-month high of $141.54. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average price is $118.04 and its 200-day moving average price is $87.51. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 46.31 and a beta of 1.43.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its earnings results on Monday, August 4th. The construction company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.58. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. The business's revenue was up 20.9% compared to the same quarter last year. Primoris Services has set its FY 2025 guidance at 4.900-5.100 EPS. Equities research analysts predict that Primoris Services will post 3.26 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Tuesday, September 30th. Primoris Services's payout ratio is presently 7.26%.

Insiders Place Their Bets

In other Primoris Services news, Director Michael E. Ching sold 2,935 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $119.89, for a total transaction of $351,877.15. Following the sale, the director directly owned 9,534 shares of the company's stock, valued at $1,143,031.26. The trade was a 23.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Schauerman sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $114.01, for a total value of $2,280,200.00. Following the sale, the director directly owned 82,281 shares in the company, valued at $9,380,856.81. The trade was a 19.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,941 shares of company stock valued at $3,004,821 over the last ninety days. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PRIM. Nuveen LLC bought a new position in shares of Primoris Services during the first quarter valued at approximately $111,497,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Primoris Services by 122.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,783,872 shares of the construction company's stock valued at $102,412,000 after buying an additional 980,940 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Primoris Services by 56.4% during the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company's stock valued at $142,872,000 after buying an additional 660,915 shares during the last quarter. Millennium Management LLC grew its stake in shares of Primoris Services by 262.1% during the first quarter. Millennium Management LLC now owns 728,405 shares of the construction company's stock valued at $41,818,000 after buying an additional 527,240 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Primoris Services during the first quarter valued at approximately $24,133,000. Institutional investors own 91.82% of the company's stock.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.

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