John P. Schauerman Sells 29,456 Shares of Primoris Services Corporation (PRIM) Stock

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.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, December 28th. Primoris Services’s payout ratio is presently 19.35%.

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.

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

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