Primoris Services Corp. (PRIM) Sees Large Volume Increase
Primoris Services Corp. (NASDAQ:PRIM) saw unusually-strong trading volume on Thursday . Approximately 589,248 shares traded hands during mid-day 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.
PRIM has been the subject of several research analyst reports. Zacks Investment Research raised shares of Primoris Services Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 10th. Canaccord Genuity reaffirmed a “hold” rating on shares of Primoris Services Corp. in a research note on Friday, May 6th. DA Davidson cut shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, August 4th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Primoris Services Corp. in a research note on Thursday, May 12th. Finally, Avondale Partners reaffirmed an “outperform” rating on shares of Primoris Services Corp. in a research note on Thursday, April 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.00.
The firm has a market capitalization of $917.90 million and a price-to-earnings ratio of 23.36. The company’s 50-day moving average is $18.45 and its 200-day moving average is $20.96.
Primoris Services Corp. (NASDAQ:PRIM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.22 by $0.12. The business had revenue of $456.81 million for the quarter, compared to analyst estimates of $516.76 million. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.07 EPS. Equities research analysts forecast that Primoris Services Corp. will post $0.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.24%. The ex-dividend date is Wednesday, September 28th.
A hedge fund recently raised its stake in Primoris Services Corp. stock. Victory Capital Management Inc. raised its stake in shares of Primoris Services Corp. (NASDAQ:PRIM) by 23.4% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,248,942 shares of the company’s stock after buying an additional 236,496 shares during the period. Victory Capital Management Inc. owned about 2.42% of Primoris Services Corp. worth $27,514,000 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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