Key Points
- Director Patricia Wagner sold 13,491 shares on Nov. 7 at an average price of $125.23 for a total of $1,689,477.93, cutting her position by 75.01% to 4,495 shares.
- Strong quarterly results: Primoris reported $1.88 EPS vs. $1.37 expected and revenue of $2.18B (up 32.1% YoY), and set FY2025 guidance of 5.350–5.550 EPS.
- Positive analyst sentiment: The consensus rating is "Moderate Buy" with a $142.92 average price target, and several firms (UBS, JPMorgan, DA Davidson) have recently raised price targets or given buy/overweight ratings.
Primoris Services Co. (NASDAQ:PRIM - Get Free Report) CEO David Lee King sold 3,500 shares of the company's stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $130.00, for a total value of $455,000.00. Following the completion of the transaction, the chief executive officer owned 21,302 shares in the company, valued at $2,769,260. This represents a 14.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Primoris Services Stock Down 2.1%
Shares of NASDAQ PRIM opened at $122.79 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $131.98 and a 200-day moving average of $102.28. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 40.66 and a beta of 1.45. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $146.16.
Primoris Services (NASDAQ:PRIM - Get Free Report) 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. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the business posted $1.22 earnings per share. The company's revenue for the quarter was up 32.1% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. Sell-side analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.
Primoris Services Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given 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 Wednesday, December 31st. Primoris Services's dividend payout ratio (DPR) is presently 6.31%.
Institutional Trading of Primoris Services
Several large investors have recently modified their holdings of the business. SBI Securities Co. Ltd. increased its holdings in Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company's stock valued at $29,000 after purchasing an additional 148 shares during the period. Cullen Frost Bankers Inc. bought a new stake in shares of Primoris Services in the 3rd quarter worth approximately $37,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of Primoris Services during the third quarter valued at approximately $37,000. McIlrath & Eck LLC raised its holdings in shares of Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the construction company's stock valued at $38,000 after acquiring an additional 145 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in Primoris Services by 163.1% in the third quarter. Richardson Financial Services Inc. now owns 321 shares of the construction company's stock worth $44,000 after acquiring an additional 199 shares during the period. 91.82% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently commented on PRIM. KeyCorp increased their target price on shares of Primoris Services from $154.00 to $159.00 and gave the company an "overweight" rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their price target on shares of Primoris Services from $141.00 to $145.00 and gave the company an "overweight" rating in a research report on Wednesday, November 5th. Mizuho set a $129.00 target price on Primoris Services in a research note on Tuesday, October 28th. Jefferies Financial Group restated a "buy" rating and set a $161.00 target price on shares of Primoris Services in a report on Wednesday, November 5th. Finally, Guggenheim restated a "neutral" rating on shares of Primoris Services in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.92.
Read Our Latest Stock Report on PRIM
About Primoris Services
(
Get Free Report)
Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.
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