Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 105,734 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $28.20, for a total transaction of $2,981,698.80. Following the completion of the sale, the director now owns 9,646,585 shares of the company’s stock, valued at approximately $272,033,697. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • 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 transaction of $2,942,772.00.
  • 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 transaction of $8,759,078.64.

Primoris Services Corporation (NASDAQ PRIM) traded up 0.04% during mid-day trading on Friday, reaching $28.01. 246,956 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.44 billion, a PE ratio of 30.48 and a beta of 1.56. Primoris Services Corporation has a 1-year low of $18.51 and a 1-year high of $30.00. The firm’s 50-day moving average is $26.26 and its 200 day moving average is $24.51.

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

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 14th. Shareholders of record on Friday, September 29th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, September 28th. Primoris Services Corporation’s dividend payout ratio (DPR) is presently 23.40%.

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Several hedge funds and other institutional investors have recently made changes to their positions in PRIM. Van Berkom & Associates Inc. lifted its holdings in shares of Primoris Services Corporation by 16.0% in the second quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock valued at $59,125,000 after purchasing an additional 327,189 shares in the last quarter. Bar Harbor Trust Services purchased a new stake in shares of Primoris Services Corporation in the second quarter valued at about $4,202,000. Next Century Growth Investors LLC lifted its holdings in shares of Primoris Services Corporation by 47.7% in the first quarter. Next Century Growth Investors LLC now owns 436,600 shares of the construction company’s stock valued at $10,137,000 after purchasing an additional 141,029 shares in the last quarter. Value Holdings Management CO. LLC lifted its holdings in shares of Primoris Services Corporation by 37.8% in the second quarter. Value Holdings Management CO. LLC now owns 477,343 shares of the construction company’s stock valued at $11,905,000 after purchasing an additional 131,031 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Primoris Services Corporation by 3.7% in the first quarter. Vanguard Group Inc. now owns 3,213,218 shares of the construction company’s stock valued at $74,612,000 after purchasing an additional 116,098 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

A number of analysts have commented on the stock. BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Canaccord Genuity increased their price objective on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a report on Friday, August 11th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Primoris Services Corporation 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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