Primoris Services (NYSE:PRIM) Hits New 12-Month High - Here's Why

Key Points

• Primoris Services shares reached a new 52-week high at $175.63 (last $173.185) during the session, trading about 24,863 shares and up roughly 2.4%, with a market cap of $9.53 billion.
• Multiple analysts raised price targets recently (UBS to $176, DA Davidson $180, Wells Fargo to $168), and the consensus rating is a Moderate Buy with an average price target of $157.00.
• The company posted an earnings beat—Q results of $1.08 EPS vs. $0.95 expected and $1.86B revenue vs. $1.82B expected—and set FY2026 guidance of 5.80–6.00 EPS (analysts expect ~5.73 EPS).

Primoris Services Corporation (NYSE:PRIM - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $175.63 and last traded at $173.1850, with a volume of 24863 shares traded. The stock had previously closed at $171.63.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Primoris Services from $165.00 to $176.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. DA Davidson set a $180.00 price target on Primoris Services in a report on Wednesday, February 25th. Wells Fargo & Company upped their target price on Primoris Services from $138.00 to $168.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Zacks Research lowered Primoris Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 31st. Finally, Wall Street Zen downgraded shares of Primoris Services from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.00.

Primoris Services Stock Up 2.4%

The stock has a market capitalization of $9.53 billion, a PE ratio of 34.86 and a beta of 1.38. The business's 50 day moving average is $151.16. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24.

Primoris Services (NYSE:PRIM - Get Free Report) last issued its earnings results on Monday, February 23rd. The company reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. Primoris Services's revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Equities analysts expect that Primoris Services Corporation will post 5.73 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Tuesday, March 31st. Primoris Services's dividend payout ratio (DPR) is currently 6.36%.

Institutional Investors Weigh In On Primoris Services

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. boosted its stake in 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 last quarter. Harbour Investments Inc. bought a new position in shares of Primoris Services in the fourth quarter valued at approximately $33,000. Osterweis Capital Management Inc. purchased a new position in shares of Primoris Services during the second quarter valued at approximately $34,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of Primoris Services during the third quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. bought a new stake in Primoris Services during the third quarter worth $37,000. Institutional investors and hedge funds 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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