According to Zacks, “Primoris Services Corporation, through various subsidiaries, operates as one of the largest specialty contractors and infrastructure companies in the United States. The Company provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. It operates through three segments: East Construction Services; West Construction Services; and Engineering. Primoris Services Corporation is headquartered in Dallas, Texas. “
Several other equities analysts also recently commented on PRIM. DA Davidson downgraded shares of Primoris Services Corp. from a buy rating to a neutral rating in a report on Thursday, August 4th. Seaport Global Securities raised shares of Primoris Services Corp. from a neutral rating to a buy rating and boosted their target price for the stock from $20.00 to $24.00 in a report on Thursday, August 25th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Primoris Services Corp. presently has an average rating of Hold and a consensus target price of $24.80.
Shares of Primoris Services Corp. (NASDAQ:PRIM) opened at 20.82 on Thursday. The stock has a 50 day moving average of $19.77 and a 200 day moving average of $20.38. The stock has a market capitalization of $1.08 billion, a PE ratio of 27.43 and a beta of 1.69. Primoris Services Corp. has a 52-week low of $16.13 and a 52-week high of $25.25.
Primoris Services Corp. (NASDAQ:PRIM) last released its earnings results on Thursday, August 4th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.22 by $0.12. Primoris Services Corp. had a return on equity of 8.14% and a net margin of 2.03%. The company earned $456.81 million during the quarter, compared to analysts’ expectations of $516.76 million. During the same period last year, the firm posted $0.07 EPS. Primoris Services Corp.’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts forecast that Primoris Services Corp. will post $0.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, September 28th. Primoris Services Corp.’s dividend payout ratio (DPR) is 28.95%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in Primoris Services Corp. by 20.9% in the second quarter. Teacher Retirement System of Texas now owns 5,770 shares of the company’s stock worth $109,000 after buying an additional 997 shares during the period. First Mercantile Trust Co. boosted its position in Primoris Services Corp. by 24.9% in the second quarter. First Mercantile Trust Co. now owns 6,055 shares of the company’s stock worth $115,000 after buying an additional 1,209 shares during the period. GSA Capital Partners LLP purchased a new position in Primoris Services Corp. during the second quarter worth $198,000. Paloma Partners Management Co purchased a new position in Primoris Services Corp. during the second quarter worth $200,000. Finally, BlackRock Inc. boosted its position in Primoris Services Corp. by 18.8% in the first quarter. BlackRock Inc. now owns 10,546 shares of the company’s stock worth $256,000 after buying an additional 1,670 shares during the period. Institutional investors and hedge funds own 74.49% of the company’s stock.
Primoris Services Corp. Company Profile
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.
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