Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 255,386 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $28.62, for a total transaction of $7,309,147.32. Following the completion of the transaction, the director now owns 8,863,164 shares of the company’s stock, valued at $253,663,753.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Brian Pratt also recently made the following trade(s):

  • On Wednesday, September 13th, Brian Pratt sold 146,882 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.59, for a total transaction of $4,199,356.38.
  • On Tuesday, September 12th, Brian Pratt sold 181,982 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.35, for a total transaction of $5,159,189.70.
  • On Monday, September 11th, Brian Pratt sold 108,062 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.07, for a total transaction of $3,033,300.34.
  • On Thursday, September 7th, Brian Pratt sold 105,099 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.00, for a total transaction of $2,942,772.00.
  • On Wednesday, September 6th, Brian Pratt sold 105,734 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.20, for a total transaction of $2,981,698.80.
  • On Friday, September 8th, Brian Pratt sold 311,933 shares of Primoris Services Corporation stock. The shares were sold at an average price of $28.08, for a total transaction of $8,759,078.64.

Shares of Primoris Services Corporation (PRIM) opened at 28.78 on Tuesday. The firm’s 50-day moving average is $26.97 and its 200 day moving average is $24.66. Primoris Services Corporation has a 52-week low of $18.71 and a 52-week high of $30.00. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.32 and a beta of 1.56.

Primoris Services Corporation (NASDAQ:PRIM) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.11. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The business had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $582.82 million. During the same period last year, the company posted $0.10 EPS. The business’s revenue was up 38.2% on a year-over-year basis. Equities analysts expect that Primoris Services Corporation will post $1.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 14th. Shareholders of record on Friday, September 29th will be paid a $0.055 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.76%. Primoris Services Corporation’s payout ratio is currently 23.40%.

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Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Primoris Services Corporation by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 3,213,218 shares of the construction company’s stock worth $74,612,000 after buying an additional 116,098 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Primoris Services Corporation by 1.0% in the 1st quarter. Wellington Management Group LLP now owns 2,670,443 shares of the construction company’s stock worth $62,008,000 after buying an additional 25,630 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in shares of Primoris Services Corporation by 16.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,370,675 shares of the construction company’s stock worth $59,125,000 after buying an additional 327,189 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Primoris Services Corporation by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,794 shares of the construction company’s stock worth $53,541,000 after buying an additional 25,864 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Primoris Services Corporation by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,912,109 shares of the construction company’s stock worth $47,688,000 after buying an additional 59,183 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Several research firms have issued reports on PRIM. BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Canaccord Genuity upped their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Primoris Services Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

About Primoris Services Corporation

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Insider Buying and Selling by Quarter for Primoris Services Corporation (NASDAQ:PRIM)

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