Insider Selling: Primoris Services Co. (NASDAQ:PRIM) Director Sells 25,000 Shares of Stock

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $59.25, for a total value of $1,481,250.00. Following the completion of the transaction, the director now owns 137,281 shares of the company’s stock, valued at approximately $8,133,899.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Primoris Services Price Performance

PRIM traded down $0.25 during trading on Friday, hitting $59.11. The company’s stock had a trading volume of 1,139,483 shares, compared to its average volume of 553,706. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 22.26 and a beta of 1.07. Primoris Services Co. has a twelve month low of $28.96 and a twelve month high of $60.26. The business’s fifty day simple moving average is $53.49 and its 200 day simple moving average is $49.70. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.65 by $0.39. The company had revenue of $1.56 billion during 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 firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 EPS. On average, equities research analysts forecast that Primoris Services Co. will post 2.82 EPS for the current fiscal year.

Primoris Services Announces Dividend

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

Institutional Investors Weigh In On Primoris Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRIM. CWM LLC grew its holdings in shares of 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 buying an additional 220 shares in the last quarter. FSC Wealth Advisors LLC purchased a new stake in shares of Primoris Services during the second quarter worth $70,000. Canton Hathaway LLC purchased a new stake in shares of Primoris Services during the second quarter worth $100,000. Innealta Capital LLC purchased a new stake in shares of Primoris Services during the second quarter worth $108,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Primoris Services during the second quarter worth $119,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

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.