Primoris Services Corporation (NASDAQ:PRIM) Director John P. Schauerman sold 29,456 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $847,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Primoris Services Corporation (PRIM) traded up $0.05 during midday trading on Friday, reaching $27.25. 110,900 shares of the company’s stock were exchanged, compared to its average volume of 186,033. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The company has a market cap of $1,399.41, a P/E ratio of 21.80, a P/E/G ratio of 2.00 and a beta of 1.59. Primoris Services Corporation has a 52-week low of $21.83 and a 52-week high of $30.00.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.09. The firm had revenue of $608.31 million during the quarter, compared to the consensus estimate of $588.19 million. Primoris Services had a net margin of 2.68% and a return on equity of 11.70%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. research analysts forecast that Primoris Services Corporation will post 1.13 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.88%. This is an increase from Primoris Services’s previous quarterly dividend of $0.06. Primoris Services’s payout ratio is currently 19.20%.

A number of hedge funds and other institutional investors have recently bought and sold shares of PRIM. CIBC World Markets Inc. lifted its holdings in shares of Primoris Services by 1.9% during the 2nd quarter. CIBC World Markets Inc. now owns 318,876 shares of the construction company’s stock worth $7,953,000 after acquiring an additional 6,000 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Primoris Services during the 2nd quarter worth approximately $575,000. Bessemer Group Inc. bought a new stake in shares of Primoris Services during the 3rd quarter worth approximately $615,000. Convergence Investment Partners LLC bought a new stake in shares of Primoris Services during the 3rd quarter worth approximately $736,000. Finally, Prudential Financial Inc. bought a new stake in shares of Primoris Services during the 3rd quarter worth approximately $1,578,000. 70.46% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Primoris Services from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Saturday, October 14th. Seaport Global Securities reissued a “buy” rating and issued a $32.00 price objective (up previously from $29.00) on shares of Primoris Services in a report on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price objective on shares of Primoris Services in a report on Tuesday, November 7th. Finally, KeyCorp reissued a “hold” rating on shares of Primoris Services in a report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.67.

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About Primoris Services

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.

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

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