Primoris Services Co. (NASDAQ:PRIM - Get Free Report) Director Carla Mashinski sold 2,082 shares of the business's stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $135.14, for a total transaction of $281,361.48. Following the sale, the director directly owned 21,530 shares in the company, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Primoris Services Trading Down 1.9%
NASDAQ PRIM opened at $131.85 on Wednesday. Primoris Services Co. has a 12-month low of $49.10 and a 12-month high of $146.16. The company has a fifty day simple moving average of $131.31 and a two-hundred day simple moving average of $109.73. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock has a market cap of $7.12 billion, a P/E ratio of 43.66 and a beta of 1.37.
Primoris Services (NASDAQ:PRIM - Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.51. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.83 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business's quarterly revenue was up 32.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. On average, analysts forecast that Primoris Services Co. will post 3.26 earnings per share for the current year.
Primoris Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services's dividend payout ratio is currently 6.31%.
Institutional Investors Weigh In On Primoris Services
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Primoris Services in the 1st quarter valued at $111,497,000. First Trust Advisors LP grew its position in Primoris Services by 56.4% during the second quarter. First Trust Advisors LP now owns 1,833,105 shares of the construction company's stock valued at $142,872,000 after buying an additional 660,915 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Primoris Services by 122.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,783,872 shares of the construction company's stock valued at $102,412,000 after buying an additional 980,940 shares in the last quarter. State Street Corp increased its holdings in Primoris Services by 2.6% in the second quarter. State Street Corp now owns 1,320,947 shares of the construction company's stock valued at $103,058,000 after buying an additional 33,399 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Primoris Services by 1.9% in the second quarter. Geode Capital Management LLC now owns 1,281,524 shares of the construction company's stock worth $99,895,000 after acquiring an additional 24,254 shares during the period. Institutional investors and hedge funds own 91.82% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. KeyCorp lifted their target price on Primoris Services from $154.00 to $159.00 and gave the stock an "overweight" rating in a report on Wednesday, November 5th. Wells Fargo & Company initiated coverage on shares of Primoris Services in a research report on Friday, November 14th. They set an "equal weight" rating and a $138.00 price target for the company. JPMorgan Chase & Co. restated a "neutral" rating and set a $143.00 price objective (down from $145.00) on shares of Primoris Services in a research note on Monday. Mizuho set a $129.00 price objective on shares of Primoris Services in a research note on Tuesday, October 28th. Finally, Glj Research began coverage on shares of Primoris Services in a report on Monday, September 22nd. They set a "buy" rating and a $160.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.57.
View Our Latest Stock Analysis on Primoris Services
Primoris Services Company Profile
(
Get Free Report)
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.
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