Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 108,062 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $28.07, for a total value of $3,033,300.34. Following the sale, the director now owns 9,332,324 shares in the company, valued at $261,958,334.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Brian Pratt also recently made the following trade(s):

  • On Wednesday, September 13th, Brian Pratt sold 146,882 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.59, for a total value of $4,199,356.38.
  • On Tuesday, September 12th, Brian Pratt sold 181,982 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.35, for a total value of $5,159,189.70.
  • On Thursday, September 7th, Brian Pratt sold 105,099 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.00, for a total value of $2,942,772.00.
  • On Wednesday, September 6th, Brian Pratt sold 105,734 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.20, for a total value of $2,981,698.80.
  • On Friday, September 8th, Brian Pratt sold 311,933 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.08, for a total value of $8,759,078.64.

Shares of Primoris Services Corporation (PRIM) traded up 0.227% during midday trading on Thursday, hitting $28.685. The stock had a trading volume of 123,246 shares. The firm’s 50 day moving average price is $26.56 and its 200 day moving average price is $24.57. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 31.213 and a beta of 1.56. Primoris Services Corporation has a 52-week low of $18.51 and a 52-week high of $30.00.

Primoris Services Corporation (NASDAQ:PRIM) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.11. The business had revenue of $631.20 million for the quarter, compared to analysts’ expectations of $582.82 million. Primoris Services Corporation had a return on equity of 11.30% and a net margin of 2.09%. The business’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities research analysts expect that Primoris Services Corporation will post $1.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 14th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 28th. Primoris Services Corporation’s dividend payout ratio is currently 23.40%.

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A number of equities research analysts have issued reports on the company. TheStreet upgraded Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Primoris Services Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. BidaskClub upgraded Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Canaccord Genuity upped their price objective on Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Primoris Services Corporation presently has an average rating of “Hold” and an average price target of $27.00.

Institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Primoris Services Corporation by 8.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after purchasing an additional 320 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Primoris Services Corporation by 13.0% during the 1st quarter. Victory Capital Management Inc. now owns 5,168 shares of the construction company’s stock worth $120,000 after purchasing an additional 595 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Primoris Services Corporation by 554.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,573 shares of the construction company’s stock worth $139,000 after purchasing an additional 4,721 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Primoris Services Corporation by 356.6% during the 2nd quarter. Citigroup Inc. now owns 6,465 shares of the construction company’s stock worth $161,000 after purchasing an additional 5,049 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Primoris Services Corporation by 2,368.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,404 shares of the construction company’s stock worth $184,000 after purchasing an additional 7,104 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Primoris Services Corporation Company Profile

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.

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