According to Zacks, “Primoris Services Corporation, through various subsidiaries, operates as one of the largest specialty contractors and infrastructure companies in the United States. The Company provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. It operates through three segments: East Construction Services; West Construction Services; and Engineering. Primoris Services Corporation is headquartered in Dallas, Texas. “
Separately, BidaskClub downgraded Primoris Services from a hold rating to a sell rating in a research report on Saturday, July 13th.
Shares of PRIM stock opened at $19.95 on Friday. Primoris Services has a 12 month low of $17.82 and a 12 month high of $26.15. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 11.74 and a beta of 1.50. The business’s 50-day moving average price is $20.33 and its 200-day moving average price is $20.73.
Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.06. Primoris Services had a return on equity of 13.95% and a net margin of 2.62%. The company had revenue of $789.90 million during the quarter, compared to the consensus estimate of $749.23 million. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts predict that Primoris Services will post 1.69 earnings per share for the current fiscal year.
In other news, Director Brian Pratt sold 300,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $19.00, for a total transaction of $5,700,000.00. Following the completion of the transaction, the director now directly owns 1,587,896 shares in the company, valued at $30,170,024. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.80% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of PRIM. Norges Bank bought a new stake in Primoris Services in the fourth quarter worth approximately $15,066,000. Deprince Race & Zollo Inc. increased its holdings in Primoris Services by 33.0% in the second quarter. Deprince Race & Zollo Inc. now owns 2,083,548 shares of the construction company’s stock worth $43,609,000 after purchasing an additional 516,512 shares in the last quarter. Keeley Teton Advisors LLC increased its holdings in Primoris Services by 338.7% in the second quarter. Keeley Teton Advisors LLC now owns 409,091 shares of the construction company’s stock worth $8,562,000 after purchasing an additional 315,841 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Primoris Services in the second quarter worth approximately $6,052,000. Finally, Rice Hall James & Associates LLC increased its holdings in Primoris Services by 58.1% in the first quarter. Rice Hall James & Associates LLC now owns 644,016 shares of the construction company’s stock worth $13,318,000 after purchasing an additional 236,765 shares in the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.
About Primoris Services
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through five segments: Power, Industrial, and Engineering; Pipeline and Underground; Utilities and Distribution; Transmission and Distribution; and Civil.
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