Primoris Services Corporation (NASDAQ:PRIM) announced its earnings results on Tuesday. The construction company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.11, MarketWatch Earnings reports. Primoris Services Corporation had a return on equity of 8.15% and a net margin of 1.49%. The business had revenue of $631.20 million for the quarter, compared to analyst estimates of $582.82 million. During the same quarter last year, the firm earned $0.10 EPS. Primoris Services Corporation’s revenue for the quarter was up 38.2% compared to the same quarter last year. Primoris Services Corporation updated its FY17 guidance to $1.05-1.25 EPS.

Primoris Services Corporation (NASDAQ PRIM) traded up 4.755% on Tuesday, reaching $26.105. The company’s stock had a trading volume of 253,690 shares. The firm’s 50-day moving average price is $24.78 and its 200 day moving average price is $24.04. Primoris Services Corporation has a 52-week low of $16.13 and a 52-week high of $29.19. The company has a market cap of $1.34 billion, a P/E ratio of 42.795 and a beta of 1.58.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.055 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.22 dividend on an annualized basis and a yield of 0.88%. Primoris Services Corporation’s dividend payout ratio is 35.48%.

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A number of large investors have recently bought and sold shares of the stock. Alambic Investment Management L.P. acquired a new stake in Primoris Services Corporation during the first quarter valued at about $348,000. Daiwa Securities Group Inc. acquired a new stake in Primoris Services Corporation during the first quarter valued at about $1,700,000. Macquarie Group Ltd. raised its stake in Primoris Services Corporation by 1.8% in the first quarter. Macquarie Group Ltd. now owns 1,852,926 shares of the construction company’s stock valued at $43,025,000 after buying an additional 31,947 shares in the last quarter. Anchor Capital Advisors LLC raised its stake in Primoris Services Corporation by 40.4% in the first quarter. Anchor Capital Advisors LLC now owns 61,830 shares of the construction company’s stock valued at $1,436,000 after buying an additional 17,783 shares in the last quarter. Finally, Van Berkom & Associates Inc. raised its stake in Primoris Services Corporation by 16.0% in the second quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock valued at $59,125,000 after buying an additional 327,189 shares in the last quarter. 70.82% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on the company. BidaskClub raised Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research raised Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Saturday, July 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.00.

About Primoris Services Corporation

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Earnings History for Primoris Services Corporation (NASDAQ:PRIM)

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