Primoris Services Corp (NASDAQ:PRIM) Announces $0.06 Quarterly Dividend

Primoris Services Corp (NASDAQ:PRIM) announced a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.06 per share by the construction company on Wednesday, January 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, December 30th.

Shares of Primoris Services stock traded down $0.98 during trading on Wednesday, hitting $22.64. The stock had a trading volume of 14,877 shares, compared to its average volume of 133,591. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $1.07 billion, a P/E ratio of 13.33 and a beta of 1.42. The business has a fifty day moving average of $20.37 and a two-hundred day moving average of $20.15. Primoris Services has a fifty-two week low of $17.80 and a fifty-two week high of $24.85.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data on Monday, November 4th. The construction company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The business had revenue of $865.10 million during the quarter, compared to analyst estimates of $888.30 million. Primoris Services had a return on equity of 13.95% and a net margin of 2.62%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, research analysts forecast that Primoris Services will post 1.69 earnings per share for the current year.

In other news, Director Stephen C. Cook sold 2,349 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $20.92, for a total transaction of $49,141.08. Following the sale, the director now directly owns 14,172 shares of the company’s stock, valued at $296,478.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Pratt sold 43,745 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $20.00, for a total value of $874,900.00. Following the sale, the director now directly owns 2,114,721 shares in the company, valued at $42,294,420. The disclosure for this sale can be found here. Insiders have sold 492,787 shares of company stock worth $10,065,268 over the last ninety days. 13.80% of the stock is owned by insiders.

Several analysts have recently weighed in on the company. KeyCorp cut their price objective on Primoris Services from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday. BidaskClub raised Primoris Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. ValuEngine raised Primoris Services from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research lowered Primoris Services from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.50.

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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Dividend History for Primoris Services (NASDAQ:PRIM)

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