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.
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