Insider Selling: Primoris Services Co. (NASDAQ:PRIM) Insider Sells $242,954.03 in Stock

Primoris Services Co. (NASDAQ:PRIM) insider John M. Perisich sold 4,391 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Primoris Services Stock Performance

PRIM opened at $57.06 on Thursday. The stock has a market cap of $3.06 billion, a P/E ratio of 21.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s 50 day simple moving average is $53.34 and its 200 day simple moving average is $49.64. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $59.16.

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

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, September 27th. Primoris Services’s payout ratio is currently 9.06%.

Institutional Investors Weigh In On Primoris Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its stake in Primoris Services by 25.1% in the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after buying an additional 220 shares in the last quarter. Arizona State Retirement System lifted its stake in 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 buying an additional 294 shares in the last quarter. EntryPoint Capital LLC lifted its stake in 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 buying an additional 513 shares in the last quarter. ProShare Advisors LLC lifted its stake in Primoris Services by 8.5% in the 1st 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Primoris Services by 9.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,189 shares of the construction company’s stock worth $608,000 after purchasing an additional 1,036 shares during the period. Hedge funds and other 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.