Morgan Stanley now owns 215,043 shares of the construction company’s stock worth $6,328,000 after buying an additional 31,841 shares in the last quarter. Morgan Stanley lifted its holdings in Primoris Services by 17.4% in the 2nd quarter. Several institutional investors and hedge funds have recently made changes to their positions in the business. 1.40% of the stock is owned by company insiders. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The shares were sold at an average price of $26.51, for a total transaction of $530,200.00. In related news, Director David Lee King sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. According to data from, Primoris Services presently has a consensus rating of “Buy” and a consensus target price of $30.25.
One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Finally, Morgan Stanley cut their price objective on shares of Primoris Services from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, March 23rd. Zacks Investment Research upgraded shares of Primoris Services from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, May 25th. DA Davidson reaffirmed a “buy” rating on shares of Primoris Services in a research report on Wednesday, March 2nd. They set a “hold” rating for the company. began coverage on shares of Primoris Services in a research note on Thursday, March 31st. Several equities research analysts have recently weighed in on PRIM shares. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Primoris Services. For the next year, analysts expect that the business will report sales of $4.02 billion, with estimates ranging from $3.93 billion to $4.10 billion. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.Īccording to Zacks, analysts expect that Primoris Services will report full-year sales of $3.79 billion for the current year, with estimates ranging from $3.72 billion to $3.86 billion.
Primoris Services reported sales of $881.61 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.8%. The lowest sales estimate is $929.80 million and the highest is $953.80 million. Two analysts have made estimates for Primoris Services’ earnings. ( NASDAQ:PRIM – Get Rating) to report sales of $941.80 million for the current fiscal quarter, Zacks Investment Research reports. Equities research analysts expect Primoris Services Co.
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