Primoris Services Corp. (PRIM) Sees Large Volume Increase
Shares of Primoris Services Corp. (NASDAQ:PRIM) saw strong trading volume on Thursday . 589,248 shares traded hands during trading, an increase of 45% from the previous session’s volume of 405,510 shares.The stock last traded at $17.75 and had previously closed at $17.23.
A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Primoris Services Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Canaccord Genuity restated a “hold” rating on shares of Primoris Services Corp. in a research report on Friday, May 6th. DA Davidson lowered shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research report on Thursday, August 4th. Seaport Global Securities restated a “neutral” rating on shares of Primoris Services Corp. in a research report on Thursday, May 12th. Finally, Avondale Partners restated an “outperform” rating on shares of Primoris Services Corp. in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.00.
The stock has a market capitalization of $905.70 million and a P/E ratio of 23.04. The company’s 50-day moving average price is $18.41 and its 200-day moving average price is $20.98.
Primoris Services Corp. (NASDAQ:PRIM) last issued its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.12. During the same period last year, the business posted $0.07 earnings per share. The business earned $456.81 million during the quarter, compared to analyst estimates of $516.76 million. The business’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts predict that Primoris Services Corp. will post $0.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, September 28th.
An institutional investor recently raised its position in Primoris Services Corp. stock. US Bancorp DE raised its position in Primoris Services Corp. (NASDAQ:PRIM) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,946 shares of the company’s stock after buying an additional 7,321 shares during the period. US Bancorp DE owned about 0.09% of Primoris Services Corp. worth $1,012,000 as of its most recent filing with the SEC.
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.
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