Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 105,099 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $28.00, for a total value of $2,942,772.00. Following the completion of the sale, the director now owns 9,646,585 shares in the company, valued at approximately $270,104,380. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

  • 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.

Primoris Services Corporation (NASDAQ PRIM) traded up 0.04% on Friday, reaching $28.01. The company’s stock had a trading volume of 246,956 shares. The firm has a 50 day moving average of $26.26 and a 200 day moving average of $24.51. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 30.48 and a beta of 1.56. Primoris Services Corporation has a 12 month low of $18.51 and a 12 month high of $30.00.

Primoris Services Corporation (NASDAQ:PRIM) last posted its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.11. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The business had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $582.82 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 38.2% on a year-over-year basis. Analysts anticipate that Primoris Services Corporation will post $1.19 earnings per share 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 given a dividend of $0.055 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.79%. Primoris Services Corporation’s dividend payout ratio is presently 23.40%.

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Several hedge funds and other institutional investors have recently modified their holdings of PRIM. Van Berkom & Associates Inc. lifted its position in shares of Primoris Services Corporation by 16.0% during 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 buying an additional 327,189 shares during the last quarter. Bar Harbor Trust Services purchased a new position in shares of Primoris Services Corporation during the 2nd quarter valued at $4,202,000. Next Century Growth Investors LLC lifted its position in shares of Primoris Services Corporation by 47.7% during the 1st quarter. Next Century Growth Investors LLC now owns 436,600 shares of the construction company’s stock valued at $10,137,000 after buying an additional 141,029 shares during the last quarter. Value Holdings Management CO. LLC lifted its position in shares of Primoris Services Corporation by 37.8% during the 2nd quarter. Value Holdings Management CO. LLC now owns 477,343 shares of the construction company’s stock valued at $11,905,000 after buying an additional 131,031 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Primoris Services Corporation by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 3,213,218 shares of the construction company’s stock valued at $74,612,000 after buying an additional 116,098 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

PRIM has been the topic of a number of research analyst reports. BidaskClub upgraded Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Saturday, July 15th. Canaccord Genuity increased their price target on Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, TheStreet upgraded Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Primoris Services Corporation presently has a consensus rating of “Hold” and an average price target of $27.00.

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.

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