Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman Sells 15,000 Shares of Stock

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 15,000 shares of Primoris Services stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $51.92, for a total value of $778,800.00. Following the transaction, the director now directly owns 202,281 shares in the company, valued at approximately $10,502,429.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $52.33 on Wednesday. The business’s fifty day simple moving average is $45.34 and its 200 day simple moving average is $38.02. The firm has a market capitalization of $2.81 billion, a P/E ratio of 16.50 and a beta of 1.14. Primoris Services Co. has a 12 month low of $26.29 and a 12 month high of $52.75. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.69.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Wednesday, May 8th. The construction company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.38 billion. Primoris Services had a return on equity of 14.13% and a net margin of 2.45%. Primoris Services’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. As a group, analysts anticipate that Primoris Services Co. will post 2.67 EPS for the current year.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. Primoris Services’s dividend payout ratio (DPR) is currently 9.06%.

Analyst Ratings Changes

Several research analysts recently issued reports on PRIM shares. UBS Group lifted their target price on Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, April 5th. StockNews.com cut Primoris Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. The Goldman Sachs Group lifted their target price on Primoris Services from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Finally, DA Davidson lifted their target price on Primoris Services from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, April 4th.

Institutional Trading of Primoris Services

A number of hedge funds have recently bought and sold shares of the business. Raymond James & Associates raised its stake in shares of Primoris Services by 22.6% in the third quarter. Raymond James & Associates now owns 61,055 shares of the construction company’s stock valued at $1,998,000 after buying an additional 11,254 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Primoris Services by 22.2% in the third quarter. Teacher Retirement System of Texas now owns 26,847 shares of the construction company’s stock valued at $879,000 after buying an additional 4,875 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Primoris Services in the third quarter valued at $255,000. Victory Capital Management Inc. raised its stake in shares of Primoris Services by 28.2% in the third quarter. Victory Capital Management Inc. now owns 20,533 shares of the construction company’s stock valued at $672,000 after buying an additional 4,513 shares during the period. Finally, Versor Investments LP purchased a new position in shares of Primoris Services in the third quarter valued at $361,000. 91.82% of the stock is currently owned by institutional investors.

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.