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

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $59.12 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.41 and a current ratio of 1.41. Primoris Services Co. has a 1 year low of $28.96 and a 1 year high of $60.26. The firm’s 50-day simple moving average is $53.62 and its 200-day simple moving average is $49.92. The firm has a market cap of $3.17 billion, a PE ratio of 22.31 and a beta of 1.07.

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

Primoris Services Dividend Announcement

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

Institutional Trading of Primoris Services

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its stake in Primoris Services by 67.6% during the fourth quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company’s stock worth $1,925,000 after acquiring an additional 23,389 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Primoris Services by 185.7% during the first quarter. Janus Henderson Group PLC now owns 64,795 shares of the construction company’s stock valued at $2,758,000 after purchasing an additional 42,112 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Primoris Services by 64.9% during the 4th quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock worth $19,223,000 after purchasing an additional 227,916 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Primoris Services in the 4th quarter worth approximately $805,000. Finally, LSV Asset Management boosted its position in Primoris Services by 9.9% during the 1st quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock valued at $24,812,000 after purchasing an additional 52,274 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

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.