John M. Perisich Sells 4,391 Shares of Primoris Services Co. (NASDAQ:PRIM) Stock

Primoris Services Co. (NASDAQ:PRIM) insider John M. Perisich sold 4,391 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Primoris Services Stock Up 3.4 %

NASDAQ:PRIM opened at $56.61 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. Primoris Services Co. has a one year low of $28.96 and a one year high of $57.72. The firm’s 50 day simple moving average is $53.01 and its 200 day simple moving average is $49.46. The company has a market cap of $3.04 billion, a PE ratio of 21.05 and a beta of 1.07.

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

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, September 27th. Primoris Services’s dividend payout ratio is currently 9.06%.

Institutional Trading of Primoris Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRIM. BNP Paribas Financial Markets lifted its position in shares of Primoris Services by 67.6% in the 4th quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company’s stock worth $1,925,000 after purchasing an additional 23,389 shares during the period. Victory Capital Management Inc. boosted its position in Primoris Services by 121.5% during the fourth quarter. Victory Capital Management Inc. now owns 45,471 shares of the construction company’s stock valued at $1,510,000 after acquiring an additional 24,938 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Primoris Services by 185.7% during the 1st quarter. Janus Henderson Group PLC now owns 64,795 shares of the construction company’s stock worth $2,758,000 after acquiring an additional 42,112 shares during the period. Verition Fund Management LLC raised its position in shares of Primoris Services by 64.9% in the 4th quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock worth $19,223,000 after acquiring an additional 227,916 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Primoris Services in the 4th quarter valued at about $805,000. Institutional investors and hedge funds 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.