Primoris Services Corporation (NYSE:PRIM) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Primoris Services has a consensus analyst rating of “Moderate Buy” from 17 research firms, with an average 1-year price target of $143.20. Recent analyst moves were mixed, including a JPMorgan upgrade to overweight and an Oppenheimer initiation with an outperform rating.
• The company’s latest quarterly results missed expectations, with EPS of $0.59 versus the $0.87 estimate and revenue of $1.56 billion versus the $1.73 billion forecast. Primoris also reaffirmed FY 2026 guidance of 4.800-5.000 EPS.
• Insider activity showed notable selling, including transactions by John M. Perisich and David Lee King, while institutional investors remain heavily involved, owning 91.82% of the stock. The company also declared a quarterly dividend of $0.08 per share, payable July 15.

Shares of Primoris Services Corporation (NYSE:PRIM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $143.20.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Primoris Services from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $105.00 to $116.00 in a research note on Monday, June 29th. Weiss Ratings downgraded shares of Primoris Services from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, May 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Primoris Services in a research report on Tuesday, June 23rd. UBS Group dropped their target price on shares of Primoris Services from $212.00 to $186.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Finally, Oppenheimer began coverage on shares of Primoris Services in a report on Tuesday. They issued an "outperform" rating and a $135.00 price target on the stock.

Insider Buying and Selling at Primoris Services

In other news, insider John M. Perisich sold 29,707 shares of Primoris Services stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Lee King sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total transaction of $2,381,800.00. Following the sale, the director owned 14,941 shares in the company, valued at $1,779,323.69. The trade was a 57.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Primoris Services

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company's stock valued at $804,361,000 after purchasing an additional 466,192 shares during the period. First Trust Advisors LP grew its holdings in Primoris Services by 47.4% during the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company's stock valued at $412,837,000 after buying an additional 928,155 shares in the last quarter. State Street Corp grew its holdings in Primoris Services by 56.8% during the 4th quarter. State Street Corp now owns 2,011,488 shares of the company's stock valued at $249,866,000 after buying an additional 728,646 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Primoris Services by 163.0% during the fourth quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company's stock valued at $216,774,000 after buying an additional 1,082,218 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Primoris Services by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company's stock valued at $164,526,000 after buying an additional 42,052 shares during the period. 91.82% of the stock is owned by institutional investors.

Primoris Services Price Performance

Shares of NYSE PRIM opened at $89.75 on Thursday. The company has a market capitalization of $4.87 billion, a PE ratio of 19.77 and a beta of 1.41. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The stock's 50 day moving average price is $112.66 and its 200-day moving average price is $135.28. Primoris Services has a twelve month low of $65.00 and a twelve month high of $205.50.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.28). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The business's revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, equities analysts anticipate that Primoris Services will post 1.88 EPS for the current year.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Primoris Services's dividend payout ratio is currently 7.05%.

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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