Primoris Services (NASDAQ:PRIM) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Primoris Services (NASDAQ:PRIM) in a research report issued on Friday, Marketbeat reports. The firm set a “neutral” rating and a $160.00 price target on the construction company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 6.27% from the company’s previous close.

PRIM has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. KeyCorp lifted their price target on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Wells Fargo & Company began coverage on Primoris Services in a research note on Friday, November 14th. They issued an “equal weight” rating and a $138.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $143.00 price target (down from $145.00) on shares of Primoris Services in a report on Monday, December 8th. Finally, DA Davidson boosted their price objective on Primoris Services from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $143.87.

Primoris Services Price Performance

NASDAQ:PRIM opened at $150.57 on Friday. Primoris Services has a 1-year low of $49.10 and a 1-year high of $155.19. The stock has a market capitalization of $8.14 billion, a PE ratio of 49.86 and a beta of 1.36. The firm has a fifty day simple moving average of $129.66 and a 200 day simple moving average of $121.99. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.51. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.83 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, research analysts expect that Primoris Services will post 3.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Lee King sold 3,500 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $130.00, for a total value of $455,000.00. Following the transaction, the chief executive officer directly owned 21,302 shares of the company’s stock, valued at approximately $2,769,260. The trade was a 14.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Schauerman sold 7,815 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the sale, the director owned 74,466 shares of the company’s stock, valued at $10,127,376. This trade represents a 9.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,888 shares of company stock worth $3,488,679 over the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRIM. Uncommon Cents Investing LLC raised its holdings in shares of Primoris Services by 2.1% in the 3rd quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock worth $536,000 after purchasing an additional 80 shares during the period. Assetmark Inc. raised its stake in shares of Primoris Services by 9.7% in the third quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock valued at $131,000 after buying an additional 84 shares during the period. NewEdge Advisors LLC lifted its position in shares of Primoris Services by 5.5% during the 3rd quarter. NewEdge Advisors LLC now owns 2,071 shares of the construction company’s stock valued at $284,000 after buying an additional 108 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Primoris Services by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock worth $431,000 after acquiring an additional 121 shares during the period. Finally, Oliver Luxxe Assets LLC increased its holdings in Primoris Services by 0.4% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the construction company’s stock worth $4,437,000 after acquiring an additional 124 shares during the last quarter. 91.82% of the stock is owned by institutional investors.

Primoris Services Company Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.