Travis L. Stricker Sells 7,500 Shares of Primoris Services Co. (NASDAQ:PRIM) Stock

Primoris Services Co. (NASDAQ:PRIMGet Free Report) CAO Travis L. Stricker sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total transaction of $300,000.00. Following the sale, the chief accounting officer now directly owns 9,068 shares in the company, valued at approximately $362,720. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Primoris Services Price Performance

Shares of NASDAQ:PRIM traded down $0.29 during trading on Monday, reaching $40.86. The company had a trading volume of 386,875 shares, compared to its average volume of 418,186. The company has a fifty day moving average of $35.69 and a two-hundred day moving average of $33.27. The stock has a market capitalization of $2.18 billion, a P/E ratio of 17.44 and a beta of 1.18. Primoris Services Co. has a 12 month low of $22.90 and a 12 month high of $41.65. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72.

Primoris Services (NASDAQ:PRIMGet Free Report) last issued its quarterly earnings results on Monday, February 26th. The construction company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.21. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. Primoris Services had a net margin of 2.21% and a return on equity of 13.20%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 EPS. Equities research analysts forecast that Primoris Services Co. will post 2.61 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.24 annualized dividend and a yield of 0.59%. Primoris Services’s payout ratio is currently 10.34%.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of analyst reports. StockNews.com lowered shares of Primoris Services from a “strong-buy” rating to a “buy” rating in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Primoris Services from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, DA Davidson upped their target price on shares of Primoris Services from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th.

Check Out Our Latest Stock Report on PRIM

Institutional Investors Weigh In On Primoris Services

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Primoris Services by 85.1% in the 4th quarter. CWM LLC now owns 855 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Primoris Services by 47.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,447 shares of the construction company’s stock worth $35,000 after purchasing an additional 466 shares during the period. Lazard Asset Management LLC bought a new position in shares of Primoris Services in the 3rd quarter worth about $38,000. Point72 Hong Kong Ltd bought a new position in shares of Primoris Services in the 4th quarter worth about $43,000. Finally, Group One Trading L.P. bought a new position in shares of Primoris Services in the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Primoris Services Company Profile

(Get Free Report)

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. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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.

Further Reading

Insider Buying and Selling by Quarter for Primoris Services (NASDAQ:PRIM)

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