Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman Sells 15,000 Shares

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 15,000 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $51.92, for a total transaction of $778,800.00. Following the transaction, the director now directly owns 202,281 shares of the company’s stock, valued at approximately $10,502,429.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Primoris Services Stock Up 1.3 %

Shares of NASDAQ:PRIM opened at $53.38 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.69. Primoris Services Co. has a 12 month low of $26.29 and a 12 month high of $53.68. The company has a 50-day moving average price of $45.84 and a 200 day moving average price of $38.22. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 16.78 and a beta of 1.14.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Wednesday, May 8th. The construction company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.39. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.38 billion. Primoris Services had a net margin of 2.45% and a return on equity of 14.13%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. As a group, equities research analysts predict that Primoris Services Co. will post 2.67 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.45%. The ex-dividend date is Friday, June 28th. Primoris Services’s payout ratio is currently 9.06%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group increased their price objective on shares of Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a report on Friday, April 5th. StockNews.com downgraded shares of Primoris Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. The Goldman Sachs Group increased their price target on shares of Primoris Services from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, DA Davidson increased their price target on shares of Primoris Services from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 4th.

Institutional Trading of Primoris Services

Several institutional investors have recently added to or reduced their stakes in PRIM. Norges Bank bought a new stake in Primoris Services in the fourth quarter worth about $15,550,000. Goldman Sachs Group Inc. lifted its stake in Primoris Services by 122.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 523,789 shares of the construction company’s stock worth $17,395,000 after purchasing an additional 288,651 shares during the last quarter. Verition Fund Management LLC lifted its stake in Primoris Services by 64.9% in the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock worth $19,223,000 after purchasing an additional 227,916 shares during the last quarter. Foundry Partners LLC bought a new stake in Primoris Services in the third quarter worth about $5,193,000. Finally, Heartland Advisors Inc. bought a new stake in Primoris Services in the third quarter worth about $4,091,000. 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.