Wells Fargo & Company Raises Primoris Services (NASDAQ:PRIM) Price Target to $168.00

Primoris Services (NASDAQ:PRIM) had its target price boosted by research analysts at Wells Fargo & Company from $138.00 to $168.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 11.78% from the stock’s previous close.

A number of other brokerages also recently weighed in on PRIM. Guggenheim boosted their target price on shares of Primoris Services from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp lifted their price objective on shares of Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of Primoris Services from $143.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group raised their target price on shares of Primoris Services from $165.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald set a $160.00 price target on Primoris Services and gave the stock a “neutral” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Primoris Services Price Performance

NASDAQ:PRIM opened at $150.29 on Thursday. 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 P/E ratio of 49.77 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day simple moving average is $146.07 and its 200 day simple moving average is $133.51.

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

Insider Activity

In related news, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred 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 sale, the director directly owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Carla S. Mashinski sold 2,082 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director owned 21,530 shares of the company’s stock, valued at $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primoris Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hodges Capital Management Inc. acquired a new stake in shares of Primoris Services in the second quarter valued at approximately $3,320,000. GSA Capital Partners LLP bought a new position in Primoris Services during the 3rd quarter worth $1,726,000. J.W. Cole Advisors Inc. acquired a new position in Primoris Services in the 3rd quarter valued at $1,193,000. Federated Hermes Inc. raised its holdings in Primoris Services by 5.8% in the 2nd quarter. Federated Hermes Inc. now owns 347,785 shares of the construction company’s stock valued at $27,106,000 after acquiring an additional 18,951 shares in the last quarter. Finally, Leuthold Group LLC lifted its position in shares of Primoris Services by 1,350.3% during the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the construction company’s stock valued at $6,722,000 after acquiring an additional 45,572 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

About Primoris Services

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.