Primoris Services Corporation (NASDAQ:PRIM) Director John P. Schauerman sold 29,456 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $847,154.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Primoris Services Corporation (PRIM) opened at $27.06 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. Primoris Services Corporation has a fifty-two week low of $21.83 and a fifty-two week high of $30.00. The stock has a market cap of $1,390.00, a P/E ratio of 21.82, a P/E/G ratio of 1.97 and a beta of 1.59.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. The business 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%. Primoris Services’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 EPS. equities analysts expect that Primoris Services Corporation will post 1.13 earnings per share for the current year.
Several analysts have issued reports on the stock. KeyCorp restated a “hold” rating on shares of Primoris Services in a research report on Tuesday, September 19th. Canaccord Genuity reissued a “buy” rating and set a $30.00 price target on shares of Primoris Services in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Primoris Services from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Saturday, October 14th. Seaport Global Securities reiterated a “buy” rating and set a $32.00 price target (up previously from $29.00) on shares of Primoris Services in a research report on Wednesday, October 11th. Finally, BidaskClub cut shares of Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $31.67.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Primoris Services during the 3rd quarter worth $1,063,000. Algert Global LLC bought a new stake in shares of Primoris Services during the 3rd quarter worth $2,512,000. California Public Employees Retirement System raised its stake in shares of Primoris Services by 43.5% during the 3rd quarter. California Public Employees Retirement System now owns 21,089 shares of the construction company’s stock worth $620,000 after purchasing an additional 6,389 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Primoris Services during the 3rd quarter worth $344,000. Finally, Jane Street Group LLC bought a new stake in shares of Primoris Services during the 3rd quarter worth $264,000. Institutional investors own 70.46% of the company’s stock.
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Primoris Services 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.
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