Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 105,734 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $28.20, for a total transaction of $2,981,698.80. Following the completion of the transaction, the director now owns 9,646,585 shares of the company’s stock, valued at approximately $272,033,697. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Brian Pratt also recently made the following trade(s):
- On Thursday, September 7th, Brian Pratt sold 105,099 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.00, for a total transaction of $2,942,772.00.
- On Friday, September 8th, Brian Pratt sold 311,933 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.08, for a total transaction of $8,759,078.64.
Primoris Services Corporation (PRIM) opened at 28.01 on Monday. The firm has a market cap of $1.44 billion, a P/E ratio of 30.48 and a beta of 1.56. Primoris Services Corporation has a 52 week low of $18.51 and a 52 week high of $30.00. The company’s 50 day moving average is $26.35 and its 200-day moving average is $24.54.
Primoris Services Corporation (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11. The business had revenue of $631.20 million during the quarter, compared to analyst estimates of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period last year, the business earned $0.10 EPS. Equities analysts expect that Primoris Services Corporation will post $1.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 14th. Investors of record on Friday, September 29th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, September 28th. Primoris Services Corporation’s payout ratio is 23.40%.
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PRIM has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. BidaskClub downgraded shares of Primoris Services Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Finally, Canaccord Genuity boosted their target price on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRIM. Teachers Advisors LLC grew its holdings in Primoris Services Corporation by 3.3% during the 4th quarter. Teachers Advisors LLC now owns 69,645 shares of the construction company’s stock valued at $1,587,000 after purchasing an additional 2,232 shares in the last quarter. First Trust Advisors LP grew its holdings in Primoris Services Corporation by 36.4% during the 1st quarter. First Trust Advisors LP now owns 326,174 shares of the construction company’s stock valued at $7,574,000 after purchasing an additional 87,048 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Primoris Services Corporation by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 252,806 shares of the construction company’s stock valued at $5,870,000 after purchasing an additional 10,219 shares in the last quarter. Teza Capital Management LLC acquired a new stake in Primoris Services Corporation during the 1st quarter valued at $320,000. Finally, Commerce Bank grew its holdings in Primoris Services Corporation by 10.2% during the 1st quarter. Commerce Bank now owns 18,535 shares of the construction company’s stock valued at $431,000 after purchasing an additional 1,710 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.
About Primoris Services Corporation
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.
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