Insider Selling: Primoris Services Co. (PRIM) VP Sells $227,642.70 in Stock

Primoris Services Co. (NASDAQ:PRIM) VP John M. Perisich sold 9,055 shares of Primoris Services stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $25.14, for a total transaction of $227,642.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of PRIM stock opened at $25.16 on Monday. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.60 and a beta of 1.17. Primoris Services Co. has a 52 week low of $22.46 and a 52 week high of $30.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.58 and a current ratio of 1.58.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Tuesday, May 8th. The construction company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Primoris Services had a net margin of 2.81% and a return on equity of 9.50%. The firm had revenue of $504.10 million for the quarter, compared to the consensus estimate of $485.10 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was down 10.2% on a year-over-year basis. equities analysts expect that Primoris Services Co. will post 1.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be issued a $0.06 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.95%. Primoris Services’s dividend payout ratio (DPR) is presently 20.87%.

Institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. bought a new stake in shares of Primoris Services in the 1st quarter worth about $107,000. SG Americas Securities LLC bought a new stake in shares of Primoris Services in the 1st quarter worth about $118,000. Koch Industries Inc. bought a new stake in shares of Primoris Services in the 4th quarter worth about $237,000. Element Capital Management LLC bought a new stake in shares of Primoris Services in the 1st quarter worth about $221,000. Finally, Verition Fund Management LLC bought a new stake in shares of Primoris Services in the 1st quarter worth about $222,000. Hedge funds and other institutional investors own 70.60% of the company’s stock.

A number of research analysts recently weighed in on the stock. ValuEngine upgraded shares of Primoris Services from a “hold” rating to a “buy” rating in a research note on Thursday, April 12th. BidaskClub upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a research note on Friday, March 16th. Canaccord Genuity lifted their target price on shares of Primoris Services from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, May 9th. Zacks Investment Research upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Sidoti upgraded shares of Primoris Services from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $30.00.

About Primoris Services

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.

Insider Buying and Selling by Quarter for Primoris Services (NASDAQ:PRIM)

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