Primoris Services Corp executive sells $307,080 in stock

In a recent transaction, Jeremy Kinch, the Chief Operating and Strategy Officer (COSO) of Primoris Services Corp (NASDAQ:NYSE:PRIM), sold 4,500 shares of the company’s common stock. The transaction comes as the company maintains a strong financial health rating according to InvestingPro analysis, with the stock delivering an impressive 72% return over the past year. The shares were sold at a price of $68.24 each, amounting to a total transaction value of $307,080. Following this sale, Kinch retains 12,586 shares in the company. This transaction was reported to the Securities and Exchange Commission (SEC) on March 6, 2025. Notably, analysts maintain a positive outlook on PRIM, with price targets ranging from $78 to $110, and the company has maintained dividend payments for 18 consecutive years. For comprehensive analysis and additional insights, investors can access the detailed Pro Research Report available on InvestingPro.

In other recent news, Primoris Services Corporation reported robust financial results for the fourth quarter and full-year 2024, with earnings per share (EPS) reaching $1.13, significantly surpassing the consensus estimate of $0.75. Revenue for the quarter increased by 15% year-over-year, reaching $1.7 billion, exceeding analyst expectations. The company also achieved a record operating cash flow of $508 million, highlighting its strong financial management. DA Davidson maintained its Buy rating and $85 price target for Primoris Services, emphasizing the company’s strong cash flow and profit margins during the quarter. KeyBanc Capital Markets adjusted its price target to $90 from $96 but maintained an Overweight rating, reflecting confidence in the company’s growth prospects despite a reduction in the applied multiple. Primoris Services’ total project backlog grew by 9% to $11.9 billion, indicating a healthy pipeline of future work. Analysts at KeyBanc noted the company’s favorable position in growth sectors such as renewables, power delivery, and communications, with expectations for continued margin improvements. The company’s guidance for 2025 suggests continued growth, with EPS projected between $3.70 and $3.90, and adjusted EPS between $4.20 and $4.40.

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