Carla Mashinski Sells 2,082 Shares of Primoris Services (NASDAQ:PRIM) Stock

Primoris Services Co. (NASDAQ:PRIM) Director Carla Mashinski sold 2,082 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the transaction, the director directly owned 21,530 shares in the company, valued at $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Primoris Services Trading Up 1.1%

Shares of NASDAQ PRIM opened at $133.46 on Thursday. Primoris Services Co. has a 1 year low of $49.10 and a 1 year high of $146.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a 50-day moving average of $131.18 and a 200 day moving average of $109.89. The stock has a market cap of $7.21 billion, a P/E ratio of 44.19 and a beta of 1.37.

Primoris Services (NASDAQ:PRIM) last announced its earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, sell-side analysts expect that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s payout ratio is presently 6.31%.

Wall Street Analysts Forecast Growth

PRIM has been the topic of a number of recent research reports. Wells Fargo & Company started coverage on Primoris Services in a research note on Friday, November 14th. They issued an “equal weight” rating and a $138.00 target price on the stock. UBS Group increased their price objective on shares of Primoris Services from $135.00 to $158.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Guggenheim restated a “neutral” rating on shares of Primoris Services in a research note on Wednesday, October 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a report on Wednesday, November 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Primoris Services in a report on Monday, November 24th. They set a “sell” rating and a $117.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $140.57.

Institutional Trading of Primoris Services

A number of large investors have recently made changes to their positions in PRIM. Cetera Investment Advisers lifted its position in Primoris Services by 35.8% during the first quarter. Cetera Investment Advisers now owns 15,985 shares of the construction company’s stock valued at $918,000 after purchasing an additional 4,212 shares during the period. US Bancorp DE lifted its holdings in shares of Primoris Services by 156.5% during the 1st quarter. US Bancorp DE now owns 4,820 shares of the construction company’s stock valued at $277,000 after buying an additional 2,941 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Primoris Services by 9.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 755,303 shares of the construction company’s stock worth $43,362,000 after buying an additional 62,350 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Primoris Services in the first quarter worth $68,000. Finally, Townsquare Capital LLC grew its holdings in shares of Primoris Services by 14.5% in the first quarter. Townsquare Capital LLC now owns 39,781 shares of the construction company’s stock worth $2,284,000 after acquiring an additional 5,028 shares during the period. 91.82% of the stock is currently owned by institutional investors.

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.