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 stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the sale, the director now owns 137,281 shares in the company, valued at $8,133,899.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Primoris Services Trading Down 0.4 %

Shares of Primoris Services stock opened at $59.12 on Monday. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 22.31 and a beta of 1.07. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services Co. has a 12-month low of $28.96 and a 12-month high of $60.26. The firm’s 50-day moving average price is $53.62 and its two-hundred day moving average price is $49.99.

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

Primoris Services Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PRIM. CWM LLC increased its stake in shares of Primoris Services by 25.1% in the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after acquiring an additional 220 shares in the last quarter. FSC Wealth Advisors LLC acquired a new stake in Primoris Services in the 2nd quarter valued at $70,000. Canton Hathaway LLC acquired a new stake in Primoris Services in the 2nd quarter valued at $100,000. Innealta Capital LLC acquired a new stake in Primoris Services in the 2nd quarter valued at $108,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Primoris Services in the 2nd quarter valued at $119,000. 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.