Brian Pratt Sells 108,062 Shares of Primoris Services Corporation (PRIM) Stock

Primoris Services Corporation (NASDAQ:PRIM) Director Brian Pratt sold 108,062 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $28.07, for a total transaction of $3,033,300.34. Following the transaction, the director now owns 9,332,324 shares of the company’s stock, valued at $261,958,334.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Brian Pratt also recently made the following trade(s):

  • On Wednesday, September 13th, Brian Pratt sold 146,882 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.59, for a total transaction of $4,199,356.38.
  • On Tuesday, September 12th, Brian Pratt sold 181,982 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.35, for a total transaction of $5,159,189.70.
  • On Thursday, September 7th, Brian Pratt sold 105,099 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.00, for a total transaction of $2,942,772.00.
  • On Wednesday, September 6th, Brian Pratt sold 105,734 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.20, for a total transaction of $2,981,698.80.
  • On Friday, September 8th, Brian Pratt sold 311,933 shares of Primoris Services Corporation stock. The stock was sold at an average price of $28.08, for a total transaction of $8,759,078.64.

Shares of Primoris Services Corporation (NASDAQ PRIM) opened at 28.52 on Friday. The firm has a market capitalization of $1.47 billion, a PE ratio of 31.03 and a beta of 1.56. The stock has a 50 day moving average of $26.76 and a 200-day moving average of $24.62. Primoris Services Corporation has a 12 month low of $18.63 and a 12 month high of $30.00.

Primoris Services Corporation (NASDAQ:PRIM) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.31 by $0.11. The company had revenue of $631.20 million for the quarter, compared to analyst estimates of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.30%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. On average, equities research analysts anticipate that Primoris Services Corporation will post $1.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 14th. Investors of record on Friday, September 29th will be given a $0.055 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.22 annualized dividend and a dividend yield of 0.77%. Primoris Services Corporation’s dividend payout ratio is presently 23.40%.

TRADEMARK VIOLATION WARNING: “Brian Pratt Sells 108,062 Shares of Primoris Services Corporation (PRIM) Stock” was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this report on another website, it was copied illegally and republished in violation of United States and international copyright law. The correct version of this report can be viewed at https://www.chaffeybreeze.com/2017/09/15/brian-pratt-sells-108062-shares-of-primoris-services-corporation-prim-stock.html.

Several institutional investors have recently added to or reduced their stakes in PRIM. Teachers Advisors LLC boosted its position in shares of Primoris Services Corporation by 3.3% in the 4th quarter. Teachers Advisors LLC now owns 69,645 shares of the construction company’s stock worth $1,587,000 after buying an additional 2,232 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Primoris Services Corporation by 36.4% in the 1st quarter. First Trust Advisors LP now owns 326,174 shares of the construction company’s stock worth $7,574,000 after buying an additional 87,048 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Primoris Services Corporation by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 252,806 shares of the construction company’s stock worth $5,870,000 after buying an additional 10,219 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Primoris Services Corporation in the 1st quarter worth about $320,000. Finally, Stevens Capital Management LP purchased a new stake in shares of Primoris Services Corporation in the 1st quarter worth about $225,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

PRIM has been the subject of a number of research analyst reports. TheStreet upgraded shares of Primoris Services Corporation from a “c+” rating to a “b-” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, July 15th. BidaskClub upgraded shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Canaccord Genuity upped their price objective on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Primoris Services Corporation presently has an average rating of “Hold” and a consensus target price of $27.00.

Primoris Services Corporation Company Profile

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

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