Key Points
- Insider sale: Primoris Services insider John Perisich sold 29,707 shares for about $3.8 million at an average price of $127.86, cutting his direct ownership by 51.86%.
- Mixed operating results: The company recently reported Q1 EPS of $0.59, missing estimates of $0.87, while revenue of $1.56 billion also fell short of expectations and declined 5.4% year over year.
- Outlook and shareholder returns: Primoris declared a quarterly dividend of $0.08 per share and issued FY 2026 EPS guidance of $4.80-$5.00, even as analysts currently rate the stock a Moderate Buy with a $156.20 average target price.
Primoris Services Corporation (NYSE:PRIM - Get Free Report) insider John Perisich sold 29,707 shares of the 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 sale, the insider directly 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Primoris Services Price Performance
Shares of NYSE PRIM opened at $125.93 on Friday. Primoris Services Corporation has a 1-year low of $70.68 and a 1-year high of $205.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.28 and a quick ratio of 1.28. The business's fifty day moving average price is $142.50 and its two-hundred day moving average price is $139.75. The firm has a market capitalization of $6.83 billion, a PE ratio of 27.74 and a beta of 1.50.
Primoris Services (NYSE:PRIM - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.28). Primoris Services had a return on equity of 16.48% and a net margin of 3.31%.The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.98 earnings per share. Primoris Services's quarterly revenue was down 5.4% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 4.800-5.000 EPS. On average, research analysts expect that Primoris Services Corporation will post 4.55 EPS for the current year.
Primoris Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.3%. Primoris Services's dividend payout ratio (DPR) is currently 7.05%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PRIM. NewEdge Advisors LLC boosted its stake in Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the company's stock valued at $43,000 after buying an additional 194 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the company's stock valued at $28,337,000 after buying an additional 33,934 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of Primoris Services during the first quarter valued at $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Primoris Services by 25.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the company's stock valued at $9,650,000 after purchasing an additional 33,818 shares during the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Primoris Services during the second quarter valued at $274,000. Institutional investors own 91.82% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on PRIM. Wells Fargo & Company decreased their price target on Primoris Services from $168.00 to $118.00 and set an "equal weight" rating for the company in a research note on Friday, May 8th. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. Guggenheim increased their price target on Primoris Services from $184.00 to $195.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Mizuho raised Primoris Services from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $175.00 to $135.00 in a research note on Monday, May 11th. Finally, KeyCorp decreased their price target on Primoris Services from $179.00 to $137.00 and set an "overweight" rating for the company in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.20.
Get Our Latest Analysis on Primoris Services
Primoris Services Company Profile
(
Get Free Report)
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.
Further Reading
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