Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 311,933 shares of Primoris Services Corporation stock in a transaction on Friday, September 8th. The shares were sold at an average price of $28.08, for a total value of $8,759,078.64. Following the transaction, the director now directly owns 9,646,585 shares of the company’s stock, valued at $270,876,106.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value of $2,942,772.00.
  • 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.

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

Primoris Services Corporation (NASDAQ:PRIM) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $582.82 million. During the same period in the prior year, the company earned $0.10 EPS. Primoris Services Corporation’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, analysts predict that Primoris Services Corporation will post $1.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 14th. Investors of record on Friday, September 29th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.22 annualized dividend and a dividend yield of 0.79%. Primoris Services Corporation’s dividend payout ratio is currently 23.40%.

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Several hedge funds have recently made changes to their positions in the stock. 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 worth $74,612,000 after buying an additional 116,098 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Primoris Services Corporation by 1.0% during the 1st quarter. Wellington Management Group LLP now owns 2,670,443 shares of the construction company’s stock worth $62,008,000 after buying an additional 25,630 shares during the last quarter. 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 worth $59,125,000 after buying an additional 327,189 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Primoris Services Corporation by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,794 shares of the construction company’s stock worth $53,541,000 after buying an additional 25,864 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Primoris Services Corporation by 3.2% during the 2nd quarter. Macquarie Group Ltd. now owns 1,912,109 shares of the construction company’s stock worth $47,688,000 after buying an additional 59,183 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

A number of brokerages have issued reports on PRIM. TheStreet raised Primoris Services Corporation from a “c+” rating to a “b-” rating in a report on Friday, August 11th. Zacks Investment Research cut Primoris Services Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BidaskClub raised Primoris Services Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Canaccord Genuity lifted their price objective on Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Primoris Services Corporation 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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