Insider Selling: Primoris Services Co. (NASDAQ:PRIM) Director Sells 25,000 Shares of Stock

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the completion of the transaction, the director now owns 137,281 shares of the company’s stock, valued at approximately $8,133,899.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Primoris Services Stock Performance

Shares of NASDAQ PRIM opened at $59.12 on Friday. Primoris Services Co. has a 12-month low of $28.96 and a 12-month high of $60.26. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The company has a market cap of $3.17 billion, a PE ratio of 22.31 and a beta of 1.07. The stock has a 50 day simple moving average of $53.62 and a 200-day simple moving average of $49.92.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.39. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, equities research analysts forecast that Primoris Services Co. will post 2.82 EPS for the current year.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.41%. Primoris Services’s payout ratio is 9.06%.

Institutional Trading of Primoris Services

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Primoris Services by 67.6% during the fourth quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company’s stock worth $1,925,000 after purchasing an additional 23,389 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Primoris Services by 185.7% during the 1st quarter. Janus Henderson Group PLC now owns 64,795 shares of the construction company’s stock valued at $2,758,000 after purchasing an additional 42,112 shares in the last quarter. Verition Fund Management LLC increased its position in shares of Primoris Services by 64.9% during the 4th quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after purchasing an additional 227,916 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Primoris Services in the fourth quarter valued at $805,000. Finally, LSV Asset Management boosted its stake in Primoris Services by 9.9% during the first quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock valued at $24,812,000 after buying an additional 52,274 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.