Primoris Services (NASDAQ:PRIM) CEO David Lee King Sells 3,500 Shares

Primoris Services Co. (NASDAQ:PRIM) CEO David Lee King sold 3,500 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $130.00, for a total transaction of $455,000.00. Following the completion of the transaction, the chief executive officer directly owned 21,302 shares of the company’s stock, valued at $2,769,260. This represents a 14.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Primoris Services Stock Performance

Shares of PRIM stock opened at $122.79 on Thursday. The company has a fifty day moving average price of $131.98 and a two-hundred day moving average price of $102.28. Primoris Services Co. has a one year low of $49.10 and a one year high of $146.16. The stock has a market cap of $6.63 billion, a P/E ratio of 40.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business earned $1.22 EPS. Primoris Services’s revenue for the quarter was up 32.1% compared to the same quarter last year. Primoris Services has set its FY 2025 guidance at 5.350-5.550 EPS. As a group, equities analysts predict that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, December 31st. Primoris Services’s payout ratio is currently 6.31%.

Analyst Ratings Changes

Several brokerages have issued reports on PRIM. JPMorgan Chase & Co. raised their price target on Primoris Services from $141.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Mizuho set a $129.00 target price on shares of Primoris Services in a report on Tuesday, October 28th. Roth Capital began coverage on shares of Primoris Services in a report on Thursday, October 9th. They issued a “buy” rating and a $170.00 price target on the stock. Finally, Glj Research started coverage on Primoris Services in a research note on Monday, September 22nd. They set a “buy” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.92.

Institutional Trading of Primoris Services

A number of institutional investors and hedge funds have recently made changes to their positions in PRIM. Hodges Capital Management Inc. purchased a new position in Primoris Services in the second quarter valued at approximately $3,320,000. Jump Financial LLC lifted its holdings in shares of Primoris Services by 550.4% in the first quarter. Jump Financial LLC now owns 109,486 shares of the construction company’s stock worth $6,286,000 after buying an additional 92,652 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Primoris Services by 358.6% in the first quarter. Dynamic Technology Lab Private Ltd now owns 69,481 shares of the construction company’s stock valued at $3,989,000 after acquiring an additional 54,331 shares during the period. US Bancorp DE grew its stake in Primoris Services by 156.5% during the first quarter. US Bancorp DE now owns 4,820 shares of the construction company’s stock valued at $277,000 after acquiring an additional 2,941 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in Primoris Services by 103.3% during the 1st quarter. XTX Topco Ltd now owns 14,988 shares of the construction company’s stock worth $860,000 after acquiring an additional 7,616 shares during the period. Institutional investors own 91.82% of the company’s stock.

Primoris Services Company Profile

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.