Analysts Set Primoris Services Corporation (NYSE:PRIM) Target Price at $153.20

Primoris Services Corporation (NYSE:PRIM) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $153.20.

Several brokerages recently issued reports on PRIM. UBS Group increased their price target on shares of Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Mizuho upped their price objective on shares of Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. raised their target price on shares of Primoris Services from $143.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group boosted their price target on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th.

Primoris Services Stock Down 0.9%

PRIM opened at $132.47 on Friday. 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 has a 52 week low of $49.10 and a 52 week high of $174.43. The stock has a market cap of $7.16 billion, a PE ratio of 26.33 and a beta of 1.36. The company has a 50 day moving average price of $148.18.

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

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s payout ratio is presently 6.36%.

Institutional Investors Weigh In On Primoris Services

Several hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. grew its stake in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock worth $29,000 after acquiring an additional 148 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Primoris Services in the 3rd quarter worth about $37,000. Harbour Investments Inc. bought a new position in Primoris Services in the 4th quarter worth about $33,000. Blue Bell Private Wealth Management LLC bought a new position in Primoris Services in the 3rd quarter worth about $37,000. Finally, McIlrath & Eck LLC grew its position in Primoris Services by 109.8% during the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock valued at $38,000 after purchasing an additional 145 shares during the last quarter. 91.82% of the stock is owned by institutional investors.

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.