Primoris Services (NYSE:PRIM) Shares Gap Down – Time to Sell?

Primoris Services Corporation (NYSE:PRIM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $122.82, but opened at $117.56. Primoris Services shares last traded at $112.6690, with a volume of 505,475 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PRIM shares. Wolfe Research started coverage on shares of Primoris Services in a research note on Thursday, April 9th. They issued an “outperform” rating and a $183.00 price objective for the company. DA Davidson set a $180.00 price objective on shares of Primoris Services in a research note on Wednesday, February 25th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Primoris Services in a research note on Tuesday. Weiss Ratings cut shares of Primoris Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, KeyCorp lowered their price target on shares of Primoris Services from $179.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.20.

Primoris Services Stock Down 9.7%

The stock’s fifty day moving average is $138.54 and its 200 day moving average is $139.71. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $5.09 billion, a P/E ratio of 20.68 and a beta of 1.36.

Primoris Services (NYSE:PRIM) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.28). Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’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. Research analysts predict that Primoris Services Corporation will post 4.55 EPS for the current fiscal year.

Primoris Services Dividend Announcement

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

Insiders Place Their Bets

In other Primoris Services news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $119.09, for a total value of $2,381,800.00. Following the completion of the transaction, the director directly owned 14,941 shares in the company, valued at approximately $1,779,323.69. This represents a 57.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John M. Perisich sold 29,707 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total transaction of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares of the company’s stock, valued at $3,525,611.64. This trade represents a 51.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRIM. NewEdge Advisors LLC raised its holdings in Primoris Services by 34.5% in the 1st quarter. NewEdge Advisors LLC now owns 757 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Primoris Services by 7.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company’s stock worth $28,337,000 after purchasing an additional 33,934 shares in the last quarter. Caxton Associates LLP bought a new position in Primoris Services in the 1st quarter worth $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company’s stock worth $9,650,000 after purchasing an additional 33,818 shares in the last quarter. Finally, M&T Bank Corp bought a new position in Primoris Services in the 2nd quarter worth $274,000. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Company Profile

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.