Insider Selling: Primoris Services Co. (NASDAQ:PRIM) Director Sells $1,481,250.00 in Stock

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 25,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the completion of the transaction, the director now directly owns 137,281 shares in the company, valued at $8,133,899.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Primoris Services Price Performance

Shares of PRIM opened at $59.12 on Monday. The firm has a market capitalization of $3.17 billion, a PE ratio of 22.31 and a beta of 1.07. The company’s 50-day moving average is $53.62 and its 200-day moving average is $49.99. Primoris Services Co. has a fifty-two week low of $28.96 and a fifty-two week high of $60.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41.

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

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, September 27th. Primoris Services’s dividend payout ratio is 9.06%.

Hedge Funds Weigh In On Primoris Services

Hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in Primoris Services by 25.1% during 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 during the period. FSC Wealth Advisors LLC bought a new position in Primoris Services during the second quarter worth about $70,000. Canton Hathaway LLC bought a new position in Primoris Services during the second quarter worth about $100,000. Innealta Capital LLC bought a new position in Primoris Services during the second quarter worth about $108,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Primoris Services during the second quarter worth about $119,000. 91.82% of the stock is owned by institutional investors.

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.