Primoris Services (NASDAQ:PRIM) Price Target Raised to $165.00

Primoris Services (NASDAQ:PRIM) had its price objective hoisted by JPMorgan Chase & Co. from $143.00 to $165.00 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the construction company’s stock.

PRIM has been the topic of several other research reports. Cantor Fitzgerald set a $160.00 price target on shares of Primoris Services and gave the company a “neutral” rating in a research report on Tuesday. DA Davidson set a $180.00 price objective on Primoris Services in a research report on Wednesday. Jefferies Financial Group reissued a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research report on Wednesday, November 5th. Mizuho raised their target price on Primoris Services from $128.00 to $143.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, KeyCorp upped their price target on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and a consensus price target of $153.20.

Primoris Services Price Performance

Shares of Primoris Services stock opened at $150.29 on Wednesday. The business has a 50 day moving average of $146.07 and a 200 day moving average of $133.51. Primoris Services has a 52 week low of $49.10 and a 52 week high of $174.43. The company has a market cap of $8.12 billion, a PE ratio of 49.77 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.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, February 23rd. The construction company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. As a group, equities research analysts forecast that Primoris Services will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

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

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction on 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 completion of the transaction, the director owned 74,466 shares in the company, valued at approximately $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director directly owned 21,530 shares in the company, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by company insiders.

Institutional Trading of Primoris Services

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Primoris Services by 7.8% in the fourth quarter. Vanguard Group Inc. now owns 6,479,466 shares of the construction company’s stock worth $804,361,000 after buying an additional 466,192 shares in the last quarter. State Street Corp raised its holdings in Primoris Services by 56.8% in the 4th quarter. State Street Corp now owns 2,011,488 shares of the construction company’s stock worth $249,866,000 after acquiring an additional 728,646 shares during the last quarter. First Trust Advisors LP lifted its position in Primoris Services by 12.1% in the 4th quarter. First Trust Advisors LP now owns 1,958,008 shares of the construction company’s stock valued at $243,067,000 after acquiring an additional 211,096 shares in the last quarter. Wellington Management Group LLP lifted its position in Primoris Services by 163.0% in the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the construction company’s stock valued at $216,774,000 after acquiring an additional 1,082,218 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Primoris Services by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the construction company’s stock valued at $164,526,000 after purchasing an additional 42,052 shares during the last quarter. 91.82% of the stock is currently 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.