Primoris Services Corp (NASDAQ:PRIM) Director Brian Pratt sold 175,118 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $20.09, for a total value of $3,518,120.62. Following the completion of the sale, the director now directly owns 1,887,896 shares of the company’s stock, valued at approximately $37,927,830.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • On Friday, May 17th, Brian Pratt sold 99,810 shares of Primoris Services stock. The shares were sold at an average price of $20.56, for a total value of $2,052,093.60.
  • On Friday, March 29th, Brian Pratt sold 235,751 shares of Primoris Services stock. The shares were sold at an average price of $20.75, for a total value of $4,891,833.25.
  • On Thursday, March 21st, Brian Pratt sold 871 shares of Primoris Services stock. The shares were sold at an average price of $22.45, for a total value of $19,553.95.
  • On Tuesday, March 19th, Brian Pratt sold 76,080 shares of Primoris Services stock. The shares were sold at an average price of $22.61, for a total value of $1,720,168.80.
  • On Monday, March 11th, Brian Pratt sold 11,149 shares of Primoris Services stock. The shares were sold at an average price of $22.40, for a total value of $249,737.60.
  • On Wednesday, March 13th, Brian Pratt sold 35,429 shares of Primoris Services stock. The shares were sold at an average price of $22.43, for a total value of $794,672.47.
  • On Tuesday, March 5th, Brian Pratt sold 110,182 shares of Primoris Services stock. The shares were sold at an average price of $23.32, for a total value of $2,569,444.24.
  • On Thursday, March 7th, Brian Pratt sold 129,812 shares of Primoris Services stock. The shares were sold at an average price of $23.18, for a total value of $3,009,042.16.

Primoris Services stock traded down $0.50 during mid-day trading on Friday, hitting $18.89. 4,894 shares of the company’s stock traded hands, compared to its average volume of 174,308. Primoris Services Corp has a fifty-two week low of $17.82 and a fifty-two week high of $28.90. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.20 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.41 and a quick ratio of 1.41.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $635.80 million. Primoris Services had a return on equity of 13.86% and a net margin of 2.54%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. As a group, equities analysts anticipate that Primoris Services Corp will post 1.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, June 27th. Primoris Services’s payout ratio is 14.12%.

Several equities research analysts have issued reports on the company. Zacks Investment Research raised Primoris Services from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, May 10th. BidaskClub raised Primoris Services from a “hold” rating to a “buy” rating in a report on Friday, March 1st. Finally, ValuEngine raised Primoris Services from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. Primoris Services presently has a consensus rating of “Hold” and an average target price of $29.00.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in Primoris Services by 2.8% during the 4th quarter. BlackRock Inc. now owns 2,839,156 shares of the construction company’s stock worth $54,312,000 after buying an additional 76,820 shares during the period. Dimensional Fund Advisors LP increased its position in Primoris Services by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,410,754 shares of the construction company’s stock worth $49,855,000 after buying an additional 14,513 shares during the period. Macquarie Group Ltd. increased its position in Primoris Services by 1.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,927,141 shares of the construction company’s stock worth $39,853,000 after buying an additional 20,311 shares during the period. Wellington Management Group LLP increased its position in Primoris Services by 15.8% during the 1st quarter. Wellington Management Group LLP now owns 1,857,647 shares of the construction company’s stock worth $38,416,000 after buying an additional 254,060 shares during the period. Finally, Deprince Race & Zollo Inc. increased its position in Primoris Services by 33.9% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,657,870 shares of the construction company’s stock worth $31,715,000 after buying an additional 420,100 shares during the period. Hedge funds and other institutional investors own 76.49% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this story on another website, it was illegally copied and republished in violation of US and international copyright and trademark laws. The original version of this story can be accessed at https://theolympiareport.com/2019/05/24/insider-selling-primoris-services-corp-prim-director-sells-175118-shares-of-stock.html.

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.

Recommended Story: Margin

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

Receive News & Ratings for Primoris Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services and related companies with MarketBeat.com's FREE daily email newsletter.