Insider Selling: Primoris Services Co. (NASDAQ:PRIM) Director Sells $1,351,250.00 in Stock

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value of $1,351,250.00. Following the transaction, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Primoris Services Stock Performance

PRIM stock opened at $54.60 on Monday. The stock has a market cap of $2.93 billion, a P/E ratio of 20.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50 day simple moving average of $52.88 and a 200 day simple moving average of $49.36. Primoris Services Co. has a 52 week low of $28.96 and a 52 week high of $57.72.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.65 by $0.39. Primoris Services had a net margin of 2.56% and a return on equity of 14.81%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company posted $0.80 EPS. Primoris Services’s revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that Primoris Services Co. will post 2.82 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. Primoris Services’s dividend payout ratio is 9.06%.

Institutional Investors Weigh In On Primoris Services

Large investors have recently made changes to their positions in the company. CWM LLC grew its position in Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after acquiring an additional 220 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Primoris Services by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 14,959 shares of the construction company’s stock valued at $746,000 after purchasing an additional 294 shares during the last quarter. M&T Bank Corp boosted its holdings in Primoris Services by 6.3% in the fourth quarter. M&T Bank Corp now owns 7,387 shares of the construction company’s stock worth $245,000 after purchasing an additional 439 shares in the last quarter. EntryPoint Capital LLC increased its position in Primoris Services by 16.2% during the first quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock worth $157,000 after buying an additional 513 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Primoris Services by 8.5% during the first quarter. ProShare Advisors LLC now owns 9,546 shares of the construction company’s stock valued at $406,000 after buying an additional 751 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

About Primoris Services

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.