Primoris Services (NYSE:PRIM) Earns Buy Rating from Roth Capital

Primoris Services (NYSE:PRIM)‘s stock had its “buy” rating reissued by stock analysts at Roth Capital in a note issued to investors on Monday,Benzinga reports. They currently have a $100.00 price objective on the stock. Roth Capital’s target price indicates a potential upside of 14.63% from the stock’s previous close.

A number of other brokerages have also commented on PRIM. KeyCorp reissued a “sector weight” rating on shares of Primoris Services in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Oppenheimer started coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They set an “outperform” rating and a $135.00 target price for the company. Mizuho reduced their target price on shares of Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Finally, UBS Group cut their target price on Primoris Services from $212.00 to $186.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $137.47.

Primoris Services Stock Performance

NYSE PRIM traded up $1.28 during trading hours on Monday, hitting $87.24. The company had a trading volume of 134,665 shares, compared to its average volume of 1,459,328. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.24. The firm has a market cap of $4.73 billion, a P/E ratio of 19.23 and a beta of 1.41. Primoris Services has a fifty-two week low of $65.00 and a fifty-two week high of $205.50. The business has a fifty day simple moving average of $104.26 and a 200-day simple moving average of $133.28.

Primoris Services (NYSE:PRIM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.28). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.73 billion. Primoris Services had a net margin of 3.31% and a return on equity of 16.48%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. Equities analysts predict that Primoris Services will post 1.88 EPS for the current year.

Insider Activity

In related news, Director David Lee King sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $119.09, for a total value of $2,381,800.00. Following the transaction, the director owned 14,941 shares in the company, valued at $1,779,323.69. This trade represents a 57.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John M. Perisich sold 29,707 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $127.86, for a total value of $3,798,337.02. Following the completion of the transaction, the insider owned 27,574 shares in the company, valued at $3,525,611.64. This represents a 51.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Primoris Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Primoris Services by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 6,479,466 shares of the company’s stock worth $804,361,000 after acquiring an additional 466,192 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Primoris Services by 47.4% in the 1st quarter. First Trust Advisors LP now owns 2,886,163 shares of the company’s stock valued at $412,837,000 after purchasing an additional 928,155 shares during the period. State Street Corp raised its stake in Primoris Services by 56.8% in the fourth quarter. State Street Corp now owns 2,011,488 shares of the company’s stock valued at $249,866,000 after buying an additional 728,646 shares during the period. Wellington Management Group LLP lifted its holdings in Primoris Services by 163.0% during the 4th quarter. Wellington Management Group LLP now owns 1,746,203 shares of the company’s stock valued at $216,774,000 after purchasing an additional 1,082,218 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Primoris Services by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 1,325,103 shares of the company’s stock worth $164,526,000 after buying an additional 42,052 shares during the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

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.