John Schauerman Sells 7,815 Shares of Primoris Services (NASDAQ:PRIM) Stock

Primoris Services Co. (NASDAQ:PRIM) Director John Schauerman sold 7,815 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the transaction, the director owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. This represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Primoris Services Stock Performance

Shares of Primoris Services stock traded up $4.39 during trading on Monday, hitting $130.67. 1,059,486 shares of the stock were exchanged, compared to its average volume of 904,179. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $130.92 and a 200-day moving average price of $111.00. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 43.27 and a beta of 1.37. Primoris Services Co. has a 1-year low of $49.10 and a 1-year high of $146.16.

Primoris Services (NASDAQ:PRIM) last issued its earnings results on Monday, November 3rd. The construction company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.37 by $0.51. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.83 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%.The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, equities analysts predict that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. Primoris Services’s payout ratio is currently 6.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Guggenheim reaffirmed a “neutral” rating on shares of Primoris Services in a report on Wednesday, October 15th. Glj Research initiated coverage on shares of Primoris Services in a report on Monday, September 22nd. They set a “buy” rating and a $160.00 price target for the company. Needham & Company LLC restated a “buy” rating on shares of Primoris Services in a research note on Wednesday, November 5th. Mizuho set a $129.00 target price on shares of Primoris Services in a research note on Tuesday, October 28th. Finally, UBS Group boosted their target price on Primoris Services from $135.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $140.57.

Hedge Funds Weigh In On Primoris Services

Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP lifted its holdings in shares of Primoris Services by 56.4% during the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company’s stock worth $142,872,000 after purchasing an additional 660,915 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in shares of Primoris Services by 122.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,783,872 shares of the construction company’s stock worth $102,412,000 after buying an additional 980,940 shares during the last quarter. State Street Corp boosted its holdings in Primoris Services by 2.6% in the second quarter. State Street Corp now owns 1,320,947 shares of the construction company’s stock valued at $103,058,000 after acquiring an additional 33,399 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Primoris Services by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 1,281,524 shares of the construction company’s stock valued at $99,895,000 after buying an additional 24,254 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Primoris Services by 9.9% during the second quarter. Invesco Ltd. now owns 1,142,010 shares of the construction company’s stock valued at $89,008,000 after buying an additional 103,038 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.