Primoris Services Corporation (NYSE:PRIM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Primoris Services has a consensus analyst rating of “Moderate Buy” from 17 brokerages, with an average 12-month target price of $156.20.
• The stock was trading at $98.39, up 4.1% in the session, but the latest earnings report missed expectations on both profit and revenue, with EPS of $0.59 versus $0.87 expected and revenue of $1.56 billion versus $1.73 billion expected.
• The company also announced a quarterly dividend of $0.08 per share, while insiders recently sold shares and institutional investors continue to hold a large majority of the stock.

Shares of Primoris Services Corporation (NYSE:PRIM - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $156.20.

A number of equities research analysts have issued reports on PRIM shares. UBS Group cut 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 report on Monday, May 11th. Weiss Ratings downgraded shares of Primoris Services from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. 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 report on Wednesday, April 1st. KeyCorp cut their target price on shares of Primoris Services from $179.00 to $137.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of Primoris Services in a research report on Tuesday.

Primoris Services Stock Up 4.1%

PRIM stock opened at $98.39 on Friday. Primoris Services has a 12-month low of $72.50 and a 12-month high of $205.50. 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 company has a market cap of $5.34 billion, a price-to-earnings ratio of 21.67 and a beta of 1.36. The company has a 50 day moving average of $136.51 and a two-hundred day moving average of $139.26.

Primoris Services (NYSE:PRIM - Get Free Report) last released its earnings results 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 return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The firm's quarterly revenue 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, equities analysts anticipate that Primoris Services will post 4.55 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Primoris Services's dividend payout ratio (DPR) is currently 7.05%.

Insiders Place Their Bets

In other news, insider John M. Perisich sold 29,707 shares of the firm's stock in a transaction on 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 transaction, the insider owned 27,574 shares in the company, valued at approximately $3,525,611.64. This trade represents a 51.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Lee King sold 20,000 shares of the firm's stock in a transaction 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 transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. This represents a 57.24% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in shares of Primoris Services by 4.4% during the 1st quarter. Bank of America Corp DE now owns 324,887 shares of the company's stock valued at $46,472,000 after purchasing an additional 13,617 shares in the last quarter. South Dakota Investment Council bought a new position in shares of Primoris Services during the 1st quarter valued at $1,116,000. Altshuler Shaham Ltd bought a new position in shares of Primoris Services during the 1st quarter valued at $118,000. Smith Group Asset Management LLC raised its holdings in shares of Primoris Services by 4.6% during the 1st quarter. Smith Group Asset Management LLC now owns 9,428 shares of the company's stock valued at $1,349,000 after purchasing an additional 413 shares in the last quarter. Finally, Amundi raised its holdings in Primoris Services by 183.1% in the 1st quarter. Amundi now owns 7,662 shares of the company's stock worth $1,096,000 after acquiring an additional 4,956 shares during the period. Institutional investors own 91.82% of the company's stock.

About Primoris Services

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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