Primoris Services Corp (NASDAQ:PRIM) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 919,400 shares, a growth of 10.4% from the June 30th total of 832,600 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average trading volume of 174,800 shares, the short-interest ratio is presently 5.3 days.
NASDAQ PRIM traded down $0.05 on Wednesday, reaching $19.97. The company had a trading volume of 267,034 shares, compared to its average volume of 172,655. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 11.75 and a beta of 1.50. Primoris Services has a fifty-two week low of $17.82 and a fifty-two week high of $26.15. The business has a 50 day moving average price of $20.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76.
Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.06. The business had revenue of $789.90 million during the quarter, compared to the consensus estimate of $749.23 million. Primoris Services had a return on equity of 13.95% and a net margin of 2.62%. Primoris Services’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. On average, equities research analysts forecast that Primoris Services will post 1.69 EPS for the current year.
A number of research firms recently weighed in on PRIM. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a report on Saturday. BidaskClub downgraded Primoris Services from a “hold” rating to a “sell” rating in a report on Saturday, July 13th.
In other news, Director Brian Pratt sold 99,810 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $20.56, for a total value of $2,052,093.60. Following the completion of the transaction, the director now directly owns 2,074,933 shares in the company, valued at approximately $42,660,622.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 574,928 shares of company stock valued at $11,270,214 over the last quarter. 13.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alpha Windward LLC acquired a new stake in Primoris Services during the 1st quarter worth about $458,000. SG Americas Securities LLC acquired a new stake in Primoris Services during the 1st quarter worth about $112,000. Millennium Management LLC grew its holdings in Primoris Services by 168.0% during the 4th quarter. Millennium Management LLC now owns 169,580 shares of the construction company’s stock worth $3,244,000 after acquiring an additional 106,293 shares during the period. Hilton Capital Management LLC acquired a new stake in Primoris Services during the 1st quarter worth about $60,000. Finally, Pier Capital LLC grew its holdings in Primoris Services by 23.7% during the 1st quarter. Pier Capital LLC now owns 350,076 shares of the construction company’s stock worth $7,240,000 after acquiring an additional 67,096 shares during the period. Institutional investors and hedge funds own 77.02% of the company’s stock.
Primoris Services Company Profile
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.
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