Primoris Services (NASDAQ:PRIM) Given New $133.00 Price Target at The Goldman Sachs Group

Primoris Services (NASDAQ:PRIM) had its price target boosted by The Goldman Sachs Group from $117.00 to $133.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “sell” rating on the construction company’s stock. The Goldman Sachs Group’s target price suggests a potential downside of 10.70% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Guggenheim upgraded Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Tuesday, January 13th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $143.00 target price (down from $145.00) on shares of Primoris Services in a report on Monday, December 8th. Needham & Company LLC reaffirmed a “buy” rating on shares of Primoris Services in a report on Wednesday, November 5th. UBS Group lifted their price objective on shares of Primoris Services from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, Mizuho set a $129.00 target price on Primoris Services in a research note on Tuesday, October 28th. 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 assigned a Sell rating to the company. According to MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and a consensus price target of $144.93.

Primoris Services Stock Performance

Primoris Services stock traded down $3.00 during midday trading on Wednesday, hitting $148.94. The company’s stock had a trading volume of 200,100 shares, compared to its average volume of 705,994. The company has a 50-day moving average price of $131.60 and a two-hundred day moving average price of $123.89. Primoris Services has a 1-year low of $49.10 and a 1-year high of $155.19. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 49.31 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating 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 net margin of 2.68% and a return on equity of 15.23%. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, sell-side analysts predict that Primoris Services will post 3.26 earnings per share for the current year.

Insider Transactions at Primoris Services

In related news, CEO David Lee King sold 3,500 shares of Primoris Services stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $130.00, for a total transaction of $455,000.00. Following the sale, the chief executive officer directly owned 21,302 shares in the company, valued at $2,769,260. This trade represents a 14.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patricia K. Wagner sold 13,491 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $125.23, for a total transaction of $1,689,477.93. Following the completion of the transaction, the director owned 4,495 shares of the company’s stock, valued at approximately $562,908.85. This trade represents a 75.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 26,888 shares of company stock valued at $3,488,679. Company insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Primoris Services

A number of institutional investors have recently made changes to their positions in PRIM. Uncommon Cents Investing LLC raised its position in shares of Primoris Services by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock worth $536,000 after acquiring an additional 80 shares during the last quarter. Assetmark Inc. raised its holdings in Primoris Services by 9.7% during the 3rd quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock worth $131,000 after purchasing an additional 84 shares during the last quarter. CWM LLC raised its holdings in Primoris Services by 1.1% during the 4th quarter. CWM LLC now owns 8,970 shares of the construction company’s stock worth $1,114,000 after purchasing an additional 96 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Primoris Services by 5.5% in the 3rd quarter. NewEdge Advisors LLC now owns 2,071 shares of the construction company’s stock worth $284,000 after purchasing an additional 108 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Primoris Services by 2.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock valued at $431,000 after purchasing an additional 121 shares during the last quarter. 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.