Primoris Services Corp (NASDAQ:PRIM) Director Brian Pratt sold 175,118 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $20.09, for a total value of $3,518,120.62. Following the completion of the sale, the director now directly owns 1,887,896 shares of the company’s stock, valued at approximately $37,927,830.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Friday, May 17th, Brian Pratt sold 99,810 shares of Primoris Services stock. The stock was sold at an average price of $20.56, for a total value of $2,052,093.60.
  • On Friday, March 29th, Brian Pratt sold 235,751 shares of Primoris Services stock. The stock was sold at an average price of $20.75, for a total value of $4,891,833.25.
  • On Thursday, March 21st, Brian Pratt sold 871 shares of Primoris Services stock. The shares were sold at an average price of $22.45, for a total value of $19,553.95.
  • On Tuesday, March 19th, Brian Pratt sold 76,080 shares of Primoris Services stock. The shares were sold at an average price of $22.61, for a total value of $1,720,168.80.
  • On Monday, March 11th, Brian Pratt sold 11,149 shares of Primoris Services stock. The shares were sold at an average price of $22.40, for a total value of $249,737.60.
  • On Wednesday, March 13th, Brian Pratt sold 35,429 shares of Primoris Services stock. The stock was sold at an average price of $22.43, for a total value of $794,672.47.
  • On Tuesday, March 5th, Brian Pratt sold 110,182 shares of Primoris Services stock. The stock was sold at an average price of $23.32, for a total value of $2,569,444.24.
  • On Thursday, March 7th, Brian Pratt sold 129,812 shares of Primoris Services stock. The stock was sold at an average price of $23.18, for a total value of $3,009,042.16.

Shares of PRIM stock traded down $0.65 during midday trading on Thursday, hitting $19.39. 256,182 shares of the company were exchanged, compared to its average volume of 174,298. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.20 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.41 and a current ratio of 1.41. Primoris Services Corp has a 52 week low of $17.82 and a 52 week high of $28.90.

Primoris Services (NASDAQ:PRIM) last issued its earnings results on Tuesday, May 7th. The construction company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $661.60 million during the quarter, compared to analysts’ expectations of $635.80 million. Primoris Services had a net margin of 2.54% and a return on equity of 13.86%. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. Sell-side analysts forecast that Primoris Services Corp will post 1.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, June 27th. Primoris Services’s dividend payout ratio is 14.12%.

Several research firms have recently issued reports on PRIM. Zacks Investment Research raised Primoris Services from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Wednesday, February 6th. ValuEngine raised shares of Primoris Services from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, BidaskClub lowered shares of Primoris Services from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Primoris Services presently has an average rating of “Hold” and an average target price of $29.00.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Primoris Services by 2.8% during the 4th quarter. BlackRock Inc. now owns 2,839,156 shares of the construction company’s stock worth $54,312,000 after purchasing an additional 76,820 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Primoris Services by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,410,754 shares of the construction company’s stock worth $49,855,000 after purchasing an additional 14,513 shares in the last quarter. Macquarie Group Ltd. increased its position in Primoris Services by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,927,141 shares of the construction company’s stock worth $39,853,000 after purchasing an additional 20,311 shares in the last quarter. Wellington Management Group LLP increased its position in Primoris Services by 15.8% during the 1st quarter. Wellington Management Group LLP now owns 1,857,647 shares of the construction company’s stock worth $38,416,000 after purchasing an additional 254,060 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in Primoris Services by 33.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,657,870 shares of the construction company’s stock worth $31,715,000 after purchasing an additional 420,100 shares in the last quarter. Institutional investors and hedge funds own 76.49% of the company’s stock.

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Primoris Services Company Profile

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.

Read More: Net Income

Insider Buying and Selling by Quarter for Primoris Services (NASDAQ:PRIM)

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