Primoris Services Corp (PRIM) Director Sells $4,891,833.25 in Stock

Primoris Services Corp (NASDAQ:PRIM) Director Brian Pratt sold 235,751 shares of Primoris Services stock in a transaction on Friday, March 29th. The stock was sold at an average price of $20.75, for a total value of $4,891,833.25. Following the sale, the director now owns 2,162,824 shares in the company, valued at $44,878,598. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

  • 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 stock was 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 shares were 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 NASDAQ:PRIM traded down $0.27 during midday trading on Friday, reaching $22.03. 155,953 shares of the company’s stock traded hands, compared to its average volume of 164,044. Primoris Services Corp has a one year low of $17.82 and a one year high of $28.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market cap of $1.12 billion, a P/E ratio of 12.96, a PEG ratio of 1.33 and a beta of 1.42.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Thursday, February 28th. The construction company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. Primoris Services had a return on equity of 13.91% and a net margin of 2.64%. The company had revenue of $877.67 million for the quarter, compared to the consensus estimate of $838.70 million. During the same quarter in the prior year, the company earned $0.44 earnings per share. Primoris Services’s revenue was up 51.6% on a year-over-year basis. On average, sell-side analysts anticipate that Primoris Services Corp will post 1.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Thursday, March 28th. Primoris Services’s payout ratio is 14.12%.

A number of institutional investors and hedge funds have recently modified their holdings of PRIM. Oppenheimer Asset Management Inc. purchased a new position in Primoris Services during the 4th quarter valued at approximately $47,000. Quantamental Technologies LLC purchased a new position in Primoris Services during the 4th quarter valued at approximately $80,000. Quantbot Technologies LP grew its holdings in Primoris Services by 161.5% during the 3rd quarter. Quantbot Technologies LP now owns 4,522 shares of the construction company’s stock valued at $112,000 after buying an additional 2,793 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Primoris Services by 398.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,671 shares of the construction company’s stock valued at $200,000 after buying an additional 7,730 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in Primoris Services during the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 77.76% of the company’s stock.

A number of research firms have recently commented on PRIM. Zacks Investment Research raised Primoris Services from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, February 6th. BidaskClub raised Primoris Services from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Finally, ValuEngine raised Primoris Services from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $29.33.

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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.

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