Primoris Services (NASDAQ:PRIM) Director Sells $1,062,840.00 in Stock

Primoris Services Co. (NASDAQ:PRIM) Director John Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the transaction, the director owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Primoris Services Stock Performance

Shares of NASDAQ PRIM opened at $122.99 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 quick ratio of 1.38 and a current ratio of 1.38. The company’s fifty day moving average price is $130.23 and its 200 day moving average price is $111.89. The company has a market capitalization of $6.65 billion, a PE ratio of 40.73 and a beta of 1.37.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $1.22 EPS. The company’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. On average, research analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given 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 dividend yield of 0.3%. Primoris Services’s dividend payout ratio (DPR) is 6.31%.

Institutional Trading of Primoris Services

Large investors have recently bought and sold shares of the business. IFP Advisors Inc lifted its stake in Primoris Services by 835.3% in the 3rd quarter. IFP Advisors Inc now owns 477 shares of the construction company’s stock worth $66,000 after purchasing an additional 426 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in Primoris Services during the third quarter worth approximately $356,000. Cambria Investment Management L.P. boosted its stake in Primoris Services by 24.9% during the third quarter. Cambria Investment Management L.P. now owns 8,613 shares of the construction company’s stock worth $1,183,000 after buying an additional 1,719 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Primoris Services by 21.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 486,200 shares of the construction company’s stock valued at $66,770,000 after buying an additional 85,044 shares in the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in Primoris Services in the 3rd quarter valued at $793,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Primoris Services from $135.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Jefferies Financial Group reiterated a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research report on Wednesday, November 5th. DA Davidson upped their price target on shares of Primoris Services from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Roth Capital started coverage on shares of Primoris Services in a research note on Thursday, October 9th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on Primoris Services in a research note on Monday, November 24th. They set a “sell” rating and a $117.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $140.57.

Primoris Services Company Profile

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.