Primoris Services Corporation (PRIM) Director Sells $7,309,147.32 in Stock

Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 255,386 shares of Primoris Services Corporation stock in a transaction on Friday, September 15th. The shares were sold at an average price of $28.62, for a total value of $7,309,147.32. Following the completion of the transaction, the director now owns 8,863,164 shares of the company’s stock, valued at approximately $253,663,753.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

  • On Wednesday, September 13th, Brian Pratt sold 146,882 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.59, for a total value of $4,199,356.38.
  • On Tuesday, September 12th, Brian Pratt sold 181,982 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.35, for a total value of $5,159,189.70.
  • On Monday, September 11th, Brian Pratt sold 108,062 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.07, for a total value of $3,033,300.34.
  • On Thursday, September 7th, Brian Pratt sold 105,099 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.00, for a total value of $2,942,772.00.
  • On Wednesday, September 6th, Brian Pratt sold 105,734 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.20, for a total value of $2,981,698.80.
  • On Friday, September 8th, Brian Pratt sold 311,933 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.08, for a total value of $8,759,078.64.

Shares of Primoris Services Corporation (NASDAQ:PRIM) opened at 28.52 on Thursday. The stock’s 50 day moving average price is $27.08 and its 200-day moving average price is $24.69. Primoris Services Corporation has a 52-week low of $18.71 and a 52-week high of $30.00. The company has a market cap of $1.47 billion, a P/E ratio of 31.03 and a beta of 1.56.

Primoris Services Corporation (NASDAQ:PRIM) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11. The firm had revenue of $631.20 million for the quarter, compared to the consensus estimate of $582.82 million. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. Equities analysts expect that Primoris Services Corporation will post $1.19 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 14th. Stockholders of record on Friday, September 29th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 28th. Primoris Services Corporation’s payout ratio is 23.40%.

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Institutional investors and hedge funds have recently made changes to their positions in the company. Alambic Investment Management L.P. bought a new position in shares of Primoris Services Corporation in the 1st quarter valued at $348,000. Van Berkom & Associates Inc. lifted its stake in shares of Primoris Services Corporation by 16.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock valued at $59,125,000 after acquiring an additional 327,189 shares during the last quarter. CIBC World Markets Inc. lifted its stake in shares of Primoris Services Corporation by 1.9% in the 2nd quarter. CIBC World Markets Inc. now owns 318,876 shares of the construction company’s stock valued at $7,953,000 after acquiring an additional 6,000 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Primoris Services Corporation by 3.0% in the 1st quarter. Teachers Advisors LLC now owns 71,710 shares of the construction company’s stock valued at $1,665,000 after acquiring an additional 2,065 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of Primoris Services Corporation by 1.8% in the 1st quarter. Macquarie Group Ltd. now owns 1,852,926 shares of the construction company’s stock valued at $43,025,000 after acquiring an additional 31,947 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Several equities analysts have issued reports on PRIM shares. TheStreet upgraded Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Canaccord Genuity lifted their price objective on Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, July 15th. KeyCorp reiterated a “hold” rating on shares of Primoris Services Corporation in a research report on Tuesday. Finally, BidaskClub upgraded Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.00.

Primoris Services Corporation Company Profile

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 Corporation (NASDAQ:PRIM)

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