Primoris Services Corporation (PRIM) Director Sells $847,154.56 in Stock
Primoris Services Corporation (NASDAQ:PRIM) Director John P. Schauerman sold 29,456 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $28.76, for a total transaction of $847,154.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Primoris Services Corporation (PRIM) traded up $0.05 during midday trading on Friday, reaching $27.25. 110,900 shares of the company’s stock were exchanged, compared to its average volume of 186,033. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36. The company has a market cap of $1,399.41, a P/E ratio of 21.80, a P/E/G ratio of 2.00 and a beta of 1.59. Primoris Services Corporation has a 52-week low of $21.83 and a 52-week high of $30.00.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.09. The firm 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%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. research analysts forecast that Primoris Services Corporation will post 1.13 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of PRIM. CIBC World Markets Inc. lifted its holdings in shares of Primoris Services by 1.9% during the 2nd quarter. CIBC World Markets Inc. now owns 318,876 shares of the construction company’s stock worth $7,953,000 after acquiring an additional 6,000 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Primoris Services during the 2nd quarter worth approximately $575,000. Bessemer Group Inc. bought a new stake in shares of Primoris Services during the 3rd quarter worth approximately $615,000. Convergence Investment Partners LLC bought a new stake in shares of Primoris Services during the 3rd quarter worth approximately $736,000. Finally, Prudential Financial Inc. bought a new stake in shares of Primoris Services during the 3rd quarter worth approximately $1,578,000. 70.46% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Primoris Services from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Saturday, October 14th. Seaport Global Securities reissued a “buy” rating and issued a $32.00 price objective (up previously from $29.00) on shares of Primoris Services in a report on Wednesday, October 11th. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price objective on shares of Primoris Services in a report on Tuesday, November 7th. Finally, KeyCorp reissued a “hold” rating on shares of Primoris Services in a report on Tuesday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.67.
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About Primoris Services
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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