Primoris Services Corp (PRIM) To Go Ex-Dividend on December 30th

Primoris Services Corp (NASDAQ:PRIM) announced a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.06 per share by the construction company on Wednesday, January 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, December 30th.

Shares of NASDAQ:PRIM traded down $0.96 during midday trading on Wednesday, reaching $22.66. The company had a trading volume of 197,452 shares, compared to its average volume of 171,060. The stock has a market capitalization of $1.07 billion, a P/E ratio of 13.32 and a beta of 1.42. The stock’s fifty day moving average price is $20.37 and its 200-day moving average price is $20.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.42. Primoris Services has a one year low of $17.80 and a one year high of $24.85.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, November 4th. The construction company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $865.10 million during the quarter, compared to the consensus estimate of $888.30 million. Primoris Services had a net margin of 2.62% and a return on equity of 13.95%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. As a group, sell-side analysts forecast that Primoris Services will post 1.69 earnings per share for the current year.

PRIM has been the subject of several analyst reports. BidaskClub raised shares of Primoris Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. ValuEngine raised shares of Primoris Services from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp reduced their price target on shares of Primoris Services from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.50.

In other news, Director Brian Pratt sold 19,678 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $20.01, for a total transaction of $393,756.78. Following the completion of the transaction, the director now owns 2,114,721 shares of the company’s stock, valued at $42,315,567.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen C. Cook sold 2,349 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $20.92, for a total transaction of $49,141.08. Following the transaction, the director now directly owns 14,172 shares of the company’s stock, valued at approximately $296,478.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 492,787 shares of company stock valued at $10,065,268. Corporate insiders own 13.80% of the company’s stock.

About Primoris Services

Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.

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Dividend History for Primoris Services (NASDAQ:PRIM)

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