1 day Ago By ABMN Staff
Primoris Services Co. ( NASDAQ:PRIM – Get Free Report ) has been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company.
The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $86.00. Several research firms have commented on PRIM.
DA Davidson upped their price objective on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.
JPMorgan Chase & Co. began coverage on Primoris Services in a research note on Monday, October 7th. They set an “overweight” rating and a $71.
00 price target for the company. The Goldman Sachs Group lifted their price objective on shares of Primoris Services from $51.00 to $78.
00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. KeyCorp assumed coverage on shares of Primoris Services in a research report on Wednesday, December 11th. They set an “overweight” rating and a $96.
00 price objective for the company. Finally, UBS Group lifted their target price on shares of Primoris Services from $75.00 to $100.
00 and gave the company a “buy” rating in a report on Thursday, November 14th. Get Our Latest Report on Primoris Services Insiders Place Their Bets Institutional Trading of Primoris Services A number of institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Primoris Services by 414.
2% in the third quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock valued at $42,000 after purchasing an additional 584 shares in the last quarter. Blue Trust Inc.
lifted its stake in Primoris Services by 27.3% in the 3rd quarter. Blue Trust Inc.
now owns 919 shares of the construction company’s stock valued at $53,000 after buying an additional 197 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in Primoris Services during the 3rd quarter valued at $59,000. TD Private Client Wealth LLC grew its holdings in Primoris Services by 24.
2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company’s stock valued at $69,000 after buying an additional 230 shares during the last quarter. Finally, CWM LLC increased its position in Primoris Services by 37.
5% during the third quarter. CWM LLC now owns 1,506 shares of the construction company’s stock worth $87,000 after buying an additional 411 shares in the last quarter. 91.
82% of the stock is currently owned by hedge funds and other institutional investors. Primoris Services Stock Performance Shares of PRIM opened at $79.60 on Friday.
The company’s 50 day simple moving average is $78.34 and its 200-day simple moving average is $63.02.
The firm has a market cap of $4.28 billion, a PE ratio of 26.36 and a beta of 1.
14. Primoris Services has a 12-month low of $30.94 and a 12-month high of $84.
97. The company has a current ratio of 1.38, a quick ratio of 1.
38 and a debt-to-equity ratio of 0.61. Primoris Services ( NASDAQ:PRIM – Get Free Report ) last issued its quarterly earnings data on Monday, November 4th.
The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.
20. Primoris Services had a net margin of 2.68% and a return on equity of 15.
23%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.
58 billion. During the same period last year, the firm posted $1.02 EPS.
Primoris Services’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities analysts predict that Primoris Services will post 3.
47 EPS for the current year. Primoris Services Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.
08 dividend. This is a boost from Primoris Services’s previous quarterly dividend of $0.06.
The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.
40%. Primoris Services’s dividend payout ratio is presently 10.60%.
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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