Insider Selling: Primoris Services Co. (NASDAQ:PRIM) Insider Sells 4,391 Shares of Stock

Primoris Services Co. (NASDAQ:PRIM) insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Primoris Services Price Performance

PRIM stock traded up $0.16 on Monday, hitting $54.76. 288,848 shares of the company’s stock traded hands, compared to its average volume of 552,442. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 20.66 and a beta of 1.07. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $57.72. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average of $52.88 and a 200-day moving average of $49.36.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. On average, analysts forecast that Primoris Services Co. will post 2.82 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.06 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. Primoris Services’s dividend payout ratio (DPR) is 9.06%.

Hedge Funds Weigh In On Primoris Services

Institutional investors have recently bought and sold shares of the stock. Precision Wealth Strategies LLC purchased a new position in Primoris Services during the 4th quarter worth approximately $202,000. Victory Capital Management Inc. grew its holdings in shares of Primoris Services by 121.5% during the fourth quarter. Victory Capital Management Inc. now owns 45,471 shares of the construction company’s stock valued at $1,510,000 after buying an additional 24,938 shares in the last quarter. Teacher Retirement System of Texas raised its position in Primoris Services by 31.5% during the fourth quarter. Teacher Retirement System of Texas now owns 35,303 shares of the construction company’s stock valued at $1,172,000 after buying an additional 8,456 shares during the period. BNP Paribas Financial Markets lifted its stake in Primoris Services by 67.6% in the 4th quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company’s stock worth $1,925,000 after acquiring an additional 23,389 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Primoris Services by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company’s stock worth $119,410,000 after acquiring an additional 109,481 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.