John P. Schauerman Sells 25,000 Shares of Primoris Services Co. (NASDAQ:PRIM) Stock

Primoris Services Co. (NASDAQ:PRIM) Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the transaction, the director now directly owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $54.60 on Friday. Primoris Services Co. has a one year low of $28.96 and a one year high of $57.72. The company has a market cap of $2.93 billion, a PE ratio of 20.60 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.41 and a current ratio of 1.41. The business has a 50-day simple moving average of $52.88 and a 200-day simple moving average of $49.29.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts forecast that Primoris Services Co. will post 2.82 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.44%. The ex-dividend date is Friday, September 27th. Primoris Services’s payout ratio is 9.06%.

Institutional Investors Weigh In On Primoris Services

Several institutional investors have recently added to or reduced their stakes in PRIM. Marshall Wace LLP purchased a new stake in Primoris Services during the second quarter worth approximately $28,089,000. Norges Bank purchased a new stake in Primoris Services during the fourth quarter worth approximately $15,550,000. Victory Capital Management Inc. lifted its stake in Primoris Services by 837.3% in the second quarter. Victory Capital Management Inc. now owns 366,516 shares of the construction company’s stock valued at $18,285,000 after buying an additional 327,412 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Primoris Services by 122.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 523,789 shares of the construction company’s stock valued at $17,395,000 after buying an additional 288,651 shares during the last quarter. Finally, Verition Fund Management LLC lifted its stake in Primoris Services by 64.9% in the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after buying an additional 227,916 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

About Primoris Services

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.