Primoris Services Co. (NASDAQ:PRIM) Director Carla S. Mashinski Sells 3,883 Shares

Primoris Services Co. (NASDAQ:PRIM) Director Carla S. Mashinski sold 3,883 shares of Primoris Services stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $53.92, for a total value of $209,371.36. Following the completion of the transaction, the director now owns 20,454 shares of the company’s stock, valued at approximately $1,102,879.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Primoris Services Price Performance

Shares of NASDAQ PRIM opened at $53.11 on Monday. Primoris Services Co. has a 1-year low of $28.29 and a 1-year high of $56.62. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 20.04 and a beta of 1.12. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s 50-day moving average is $49.55 and its two-hundred day moving average is $40.95.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data 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 company had revenue of $1.41 billion for 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 company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. Analysts forecast that Primoris Services Co. will post 2.67 EPS for the current fiscal year.

Primoris Services Dividend Announcement

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

Analyst Upgrades and Downgrades

PRIM has been the topic of several research analyst reports. DA Davidson lifted their price objective on Primoris Services from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. UBS Group increased their price target on Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a report on Friday, April 5th. The Goldman Sachs Group boosted their price objective on Primoris Services from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, StockNews.com lowered shares of Primoris Services from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th.

Institutional Investors Weigh In On Primoris Services

Several hedge funds and other institutional investors have recently made changes to their positions in PRIM. CWM LLC raised its holdings in Primoris Services by 85.1% during the fourth quarter. CWM LLC now owns 855 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Group One Trading L.P. acquired a new position in Primoris Services in the third quarter valued at $44,000. Federated Hermes Inc. acquired a new stake in shares of Primoris Services during the fourth quarter worth about $61,000. EntryPoint Capital LLC boosted its position in shares of Primoris Services by 16.2% in the 1st quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock valued at $157,000 after purchasing an additional 513 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in Primoris Services during the 4th quarter worth approximately $159,000. Institutional investors and hedge funds 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.