Primoris Services (NASDAQ:PRIM) Director Sells $281,361.48 in Stock

Primoris Services Co. (NASDAQ:PRIM) Director Carla Mashinski sold 2,082 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total transaction of $281,361.48. Following the completion of the transaction, the director owned 21,530 shares in the company, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Primoris Services Stock Down 1.9%

Shares of PRIM stock traded down $2.62 on Tuesday, hitting $131.85. The company’s stock had a trading volume of 1,245,712 shares, compared to its average volume of 900,081. The firm’s fifty day moving average price is $131.42 and its 200-day moving average price is $109.30. Primoris Services Co. has a fifty-two week low of $49.10 and a fifty-two week high of $146.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $7.12 billion, a price-to-earnings ratio of 43.66 and a beta of 1.37.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.51. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.83 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. Research analysts anticipate that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Primoris Services’s dividend payout ratio (DPR) is currently 6.31%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRIM. Guggenheim reaffirmed a “neutral” rating on shares of Primoris Services in a research note on Wednesday, October 15th. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Glj Research began coverage on Primoris Services in a research note on Monday, September 22nd. They issued a “buy” rating and a $160.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research note on Wednesday, November 5th. Finally, Mizuho set a $129.00 price target on Primoris Services in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $140.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC lifted its position in shares of Primoris Services by 2.1% during the 3rd quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock valued at $536,000 after acquiring an additional 80 shares during the period. Assetmark Inc. grew its position in Primoris Services by 9.7% during the 3rd quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock worth $131,000 after acquiring an additional 84 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Primoris Services by 5.5% in the third quarter. NewEdge Advisors LLC now owns 2,071 shares of the construction company’s stock valued at $284,000 after buying an additional 108 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Primoris Services by 2.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock valued at $431,000 after acquiring an additional 121 shares during the last quarter. Finally, Oliver Luxxe Assets LLC raised its position in Primoris Services by 0.4% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the construction company’s stock worth $4,437,000 after purchasing an additional 124 shares during the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

About Primoris Services

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.