Brian Pratt Sells 175,634 Shares of Primoris Services Corp (NASDAQ:PRIM) Stock

Primoris Services Corp (NASDAQ:PRIM) Director Brian Pratt sold 175,634 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $20.45, for a total transaction of $3,591,715.30. Following the completion of the transaction, the director now directly owns 2,419,756 shares of the company’s stock, valued at approximately $49,484,010.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Brian Pratt also recently made the following trade(s):

  • On Friday, September 13th, Brian Pratt sold 44,942 shares of Primoris Services stock. The stock was sold at an average price of $20.83, for a total transaction of $936,141.86.
  • On Monday, August 19th, Brian Pratt sold 19,678 shares of Primoris Services stock. The stock was sold at an average price of $20.01, for a total transaction of $393,756.78.
  • On Wednesday, August 21st, Brian Pratt sold 43,745 shares of Primoris Services stock. The stock was sold at an average price of $20.00, for a total transaction of $874,900.00.

Shares of PRIM traded up $0.49 during mid-day trading on Friday, hitting $20.93. 104,612 shares of the company traded hands, compared to its average volume of 171,403. Primoris Services Corp has a one year low of $17.80 and a one year high of $25.50. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average of $19.63 and a 200 day moving average of $20.55. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 12.31 and a beta of 1.44.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Primoris Services had a net margin of 2.62% and a return on equity of 13.95%. The business had revenue of $789.90 million for the quarter, compared to analysts’ expectations of $749.23 million. During the same period in the prior year, the firm earned $0.31 earnings per share. Primoris Services’s revenue was up 21.7% compared to the same quarter last year. As a group, analysts anticipate that Primoris Services Corp will post 1.69 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a yield of 1.15%. Primoris Services’s payout ratio is presently 14.12%.

A number of hedge funds have recently made changes to their positions in the business. Van Berkom & Associates Inc. boosted its stake in Primoris Services by 22.0% in the second quarter. Van Berkom & Associates Inc. now owns 3,250,146 shares of the construction company’s stock valued at $68,026,000 after acquiring an additional 587,063 shares during the last quarter. BlackRock Inc. boosted its stake in Primoris Services by 4.4% in the second quarter. BlackRock Inc. now owns 2,940,395 shares of the construction company’s stock valued at $61,542,000 after acquiring an additional 123,473 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in Primoris Services by 33.0% in the second quarter. Deprince Race & Zollo Inc. now owns 2,083,548 shares of the construction company’s stock valued at $43,609,000 after acquiring an additional 516,512 shares during the last quarter. Northern Trust Corp boosted its stake in Primoris Services by 0.6% in the second quarter. Northern Trust Corp now owns 726,450 shares of the construction company’s stock valued at $15,204,000 after acquiring an additional 4,024 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Primoris Services by 11.3% in the second quarter. Rice Hall James & Associates LLC now owns 716,749 shares of the construction company’s stock valued at $15,002,000 after acquiring an additional 72,733 shares during the last quarter. 79.20% of the stock is currently owned by hedge funds and other institutional investors.

PRIM has been the subject of several recent analyst reports. BidaskClub raised shares of Primoris Services from a “strong sell” rating to a “sell” rating in a report on Thursday. Zacks Investment Research cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th.

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

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