Primoris Services Co. (NASDAQ:PRIM) Receives $144.93 Average PT from Brokerages

Primoris Services Co. (NASDAQ:PRIM) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $144.9333.

PRIM has been the topic of a number of research analyst reports. Mizuho set a $129.00 target price on Primoris Services in a research note on Tuesday, October 28th. Cantor Fitzgerald assumed coverage on Primoris Services in a research report on Friday, January 23rd. They set a “neutral” rating and a $160.00 price objective on the stock. KeyCorp boosted their target price on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a report on Wednesday, January 28th.

Primoris Services Price Performance

Shares of NASDAQ PRIM opened at $166.38 on Monday. The stock’s 50-day simple moving average is $140.02 and its two-hundred day simple moving average is $129.49. Primoris Services has a twelve month low of $49.10 and a twelve month high of $174.43. The firm has a market capitalization of $8.99 billion, a P/E ratio of 55.09 and a beta of 1.37. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the sale, the director directly owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This trade represents a 9.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its holdings in Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock valued at $29,000 after buying an additional 148 shares during the last quarter. Harbour Investments Inc. purchased a new position in shares of Primoris Services in the fourth quarter valued at about $33,000. Osterweis Capital Management Inc. bought a new position in shares of Primoris Services during the second quarter valued at about $34,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Primoris Services during the third quarter worth about $37,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services in the third quarter worth about $37,000. Institutional investors own 91.82% of the company’s stock.

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.