Brian Pratt Sells 44,942 Shares of Primoris Services Corp (NASDAQ:PRIM) Stock

Primoris Services Corp (NASDAQ:PRIM) Director Brian Pratt sold 44,942 shares of Primoris Services stock in a transaction on Friday, September 13th. The stock was sold at an average price of $20.83, for a total transaction of $936,141.86. Following the transaction, the director now owns 2,419,756 shares in the company, valued at approximately $50,403,517.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian Pratt also recently made the following trade(s):

  • On Wednesday, September 11th, Brian Pratt sold 175,634 shares of Primoris Services stock. The stock was sold at an average price of $20.45, for a total transaction of $3,591,715.30.
  • On Monday, August 19th, Brian Pratt sold 19,678 shares of Primoris Services stock. The stock was sold at an average price of $20.01, for a total transaction of $393,756.78.
  • On Wednesday, August 21st, Brian Pratt sold 43,745 shares of Primoris Services stock. The stock was sold at an average price of $20.00, for a total transaction of $874,900.00.

Shares of Primoris Services stock traded up $0.49 on Friday, hitting $20.93. 104,612 shares of the company’s stock were exchanged, compared to its average volume of 171,403. The company has a 50-day simple moving average of $19.63 and a 200-day simple moving average of $20.55. The stock has a market capitalization of $1.04 billion, a PE ratio of 12.31 and a beta of 1.44. Primoris Services Corp has a 1 year low of $17.80 and a 1 year high of $25.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.42 and a current ratio of 1.42.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.06. The business had revenue of $789.90 million for the quarter, compared to analysts’ expectations of $749.23 million. Primoris Services had a net margin of 2.62% and a return on equity of 13.95%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 EPS. On average, analysts expect that Primoris Services Corp will post 1.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, September 27th. Primoris Services’s dividend payout ratio is presently 14.12%.

Several institutional investors have recently modified their holdings of the company. Investors Research Corp lifted its stake in shares of Primoris Services by 3.9% during the 2nd quarter. Investors Research Corp now owns 15,800 shares of the construction company’s stock valued at $331,000 after buying an additional 600 shares in the last quarter. Alpha Windward LLC lifted its stake in shares of Primoris Services by 2.7% during the 2nd quarter. Alpha Windward LLC now owns 22,740 shares of the construction company’s stock valued at $478,000 after buying an additional 600 shares in the last quarter. First Mercantile Trust Co. lifted its stake in shares of Primoris Services by 32.6% during the 1st quarter. First Mercantile Trust Co. now owns 5,082 shares of the construction company’s stock valued at $105,000 after buying an additional 1,250 shares in the last quarter. Menta Capital LLC lifted its stake in shares of Primoris Services by 18.9% during the 2nd quarter. Menta Capital LLC now owns 11,886 shares of the construction company’s stock valued at $249,000 after buying an additional 1,886 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Primoris Services by 19.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,173 shares of the construction company’s stock valued at $248,000 after buying an additional 1,972 shares in the last quarter. Institutional investors and hedge funds own 79.20% of the company’s stock.

PRIM has been the topic of several analyst reports. BidaskClub upgraded shares of Primoris Services from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th.

About Primoris Services

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.

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