Primoris Services Corporation (NASDAQ:PRIM) issued its earnings results on Tuesday. The construction company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11, MarketWatch Earnings reports. Primoris Services Corporation had a return on equity of 8.15% and a net margin of 1.49%. The company had revenue of $631.20 million during the quarter, compared to the consensus estimate of $582.82 million. During the same period in the previous year, the firm posted $0.10 earnings per share. Primoris Services Corporation’s quarterly revenue was up 38.2% compared to the same quarter last year. Primoris Services Corporation updated its FY17 guidance to $1.05-1.25 EPS.

Primoris Services Corporation (NASDAQ PRIM) opened at 25.19 on Tuesday. Primoris Services Corporation has a 12 month low of $16.13 and a 12 month high of $29.19. The stock’s 50 day moving average price is $24.78 and its 200 day moving average price is $24.04. The firm has a market capitalization of $1.30 billion, a P/E ratio of 41.30 and a beta of 1.58.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a dividend of $0.055 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.22 annualized dividend and a dividend yield of 0.88%. Primoris Services Corporation’s dividend payout ratio is presently 35.48%.

PRIM has been the subject of a number of research reports. Zacks Investment Research upgraded Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Saturday, July 15th. BidaskClub downgraded Primoris Services Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Primoris Services Corporation has an average rating of “Hold” and a consensus target price of $26.00.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Primoris Services Corporation during the fourth quarter valued at about $2,569,000. Teachers Advisors LLC raised its position in Primoris Services Corporation by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 69,645 shares of the construction company’s stock valued at $1,587,000 after buying an additional 2,232 shares during the period. Essex Investment Management Co. LLC raised its position in Primoris Services Corporation by 25.4% in the first quarter. Essex Investment Management Co. LLC now owns 48,082 shares of the construction company’s stock valued at $1,116,000 after buying an additional 9,732 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new position in Primoris Services Corporation during the first quarter valued at about $16,127,000. Finally, Emerald Advisers Inc. PA acquired a new position in Primoris Services Corporation during the first quarter valued at about $20,358,000. 70.82% of the stock is owned by hedge funds and other institutional investors.

About Primoris Services Corporation

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.

Earnings History for Primoris Services Corporation (NASDAQ:PRIM)

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