BidaskClub cut shares of Primoris Services (NASDAQ:PRIM) from a hold rating to a sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

A number of other analysts have also recently commented on PRIM. KeyCorp dropped their target price on shares of Primoris Services from $28.00 to $27.00 and set an overweight rating on the stock in a report on Tuesday, November 5th. Zacks Investment Research cut shares of Primoris Services from a buy rating to a hold rating in a report on Wednesday, November 6th. Finally, ValuEngine upgraded shares of Primoris Services from a sell rating to a hold rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $25.50.

Shares of PRIM stock traded up $0.23 during mid-day trading on Friday, reaching $21.57. 141,900 shares of the company’s stock traded hands, compared to its average volume of 171,777. Primoris Services has a 12 month low of $17.80 and a 12 month high of $24.85. The company has a market cap of $1.10 billion, a P/E ratio of 12.69 and a beta of 1.42. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.72. The company’s 50-day moving average price is $20.83 and its 200-day moving average price is $20.14.

Primoris Services (NASDAQ:PRIM) last announced its earnings results on Monday, November 4th. The construction company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. Primoris Services had a net margin of 2.75% and a return on equity of 14.08%. The firm had revenue of $865.10 million for the quarter, compared to analysts’ expectations of $888.30 million. During the same quarter in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Equities analysts predict that Primoris Services will post 1.63 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, December 30th. Primoris Services’s dividend payout ratio (DPR) is presently 14.12%.

In related news, Director Brian Pratt sold 43,745 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $20.00, for a total value of $874,900.00. Following the transaction, the director now owns 2,114,721 shares in the company, valued at approximately $42,294,420. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Lee King sold 8,929 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $22.26, for a total transaction of $198,759.54. Following the completion of the transaction, the director now owns 6,242 shares in the company, valued at approximately $138,946.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 482,038 shares of company stock worth $9,870,271. 13.80% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Divisar Capital Management LLC boosted its stake in Primoris Services by 14.8% in the 2nd quarter. Divisar Capital Management LLC now owns 310,749 shares of the construction company’s stock worth $6,504,000 after purchasing an additional 40,000 shares in the last quarter. Menta Capital LLC boosted its stake in Primoris Services by 18.9% in the 2nd quarter. Menta Capital LLC now owns 11,886 shares of the construction company’s stock worth $249,000 after purchasing an additional 1,886 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Primoris Services by 12.6% in the 3rd quarter. First Mercantile Trust Co. now owns 4,922 shares of the construction company’s stock worth $97,000 after purchasing an additional 550 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in Primoris Services by 22.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,250,146 shares of the construction company’s stock worth $68,026,000 after purchasing an additional 587,063 shares in the last quarter. Finally, Keeley Teton Advisors LLC boosted its stake in Primoris Services by 338.7% in the 2nd quarter. Keeley Teton Advisors LLC now owns 409,091 shares of the construction company’s stock worth $8,562,000 after purchasing an additional 315,841 shares in the last quarter. Institutional investors own 79.78% 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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