Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 146,882 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $28.59, for a total transaction of $4,199,356.38. Following the sale, the director now owns 9,332,324 shares in the company, valued at $266,811,143.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Tuesday, September 12th, Brian Pratt sold 181,982 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.35, for a total transaction of $5,159,189.70.
  • On Monday, September 11th, Brian Pratt sold 108,062 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.07, for a total transaction of $3,033,300.34.
  • On Thursday, September 7th, Brian Pratt sold 105,099 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.00, for a total transaction of $2,942,772.00.
  • On Wednesday, September 6th, Brian Pratt sold 105,734 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.20, for a total transaction of $2,981,698.80.
  • On Friday, September 8th, Brian Pratt sold 311,933 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.08, for a total transaction of $8,759,078.64.

Primoris Services Corporation (PRIM) opened at 28.52 on Friday. The firm has a market capitalization of $1.47 billion, a P/E ratio of 31.03 and a beta of 1.56. The company has a 50-day moving average price of $26.76 and a 200-day moving average price of $24.62. Primoris Services Corporation has a one year low of $18.63 and a one year high of $30.00.

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

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

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Hedge funds have recently bought and sold shares of the business. Alambic Investment Management L.P. purchased a new stake in Primoris Services Corporation during the 1st quarter worth approximately $348,000. Van Berkom & Associates Inc. increased its holdings in Primoris Services Corporation by 16.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock worth $59,125,000 after purchasing an additional 327,189 shares during the last quarter. Teachers Advisors LLC increased its holdings in Primoris Services Corporation by 3.0% during the 1st quarter. Teachers Advisors LLC now owns 71,710 shares of the construction company’s stock worth $1,665,000 after purchasing an additional 2,065 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Primoris Services Corporation by 1.8% during the 1st quarter. Macquarie Group Ltd. now owns 1,852,926 shares of the construction company’s stock worth $43,025,000 after purchasing an additional 31,947 shares during the last quarter. Finally, Anchor Capital Advisors LLC increased its holdings in Primoris Services Corporation by 40.4% during the 1st quarter. Anchor Capital Advisors LLC now owns 61,830 shares of the construction company’s stock worth $1,436,000 after purchasing an additional 17,783 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

PRIM has been the topic of a number of recent research reports. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research note on Friday, August 11th. Canaccord Genuity upped their target price on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Saturday, July 15th. Finally, BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

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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