Primoris Services Corp (NASDAQ:PRIM) – KeyCorp issued their FY2021 earnings per share estimates for Primoris Services in a note issued to investors on Wednesday, January 29th. KeyCorp analyst S. Eastman anticipates that the construction company will post earnings per share of $2.32 for the year.
Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 4th. The construction company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Primoris Services had a net margin of 2.75% and a return on equity of 14.08%. The business had revenue of $865.10 million during the quarter, compared to the consensus estimate of $888.30 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year.
PRIM has been the topic of several other reports. ValuEngine cut Primoris Services from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, BidaskClub upgraded Primoris Services from a “sell” rating to a “hold” rating in a research note on Friday, January 24th.
PRIM stock opened at $22.00 on Thursday. Primoris Services has a twelve month low of $17.80 and a twelve month high of $23.98. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $1.12 billion, a P/E ratio of 12.79 and a beta of 1.44. The firm has a 50 day simple moving average of $22.12 and a 200-day simple moving average of $20.87.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, December 30th. Primoris Services’s dividend payout ratio (DPR) is presently 14.12%.
In related news, Director Brian Pratt sold 849,281 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $21.58, for a total transaction of $18,327,483.98. Following the transaction, the director now directly owns 2,439,952 shares in the company, valued at $52,654,164.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lee King sold 8,929 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $22.26, for a total value of $198,759.54. Following the transaction, the director now owns 6,242 shares in the company, valued at $138,946.92. The disclosure for this sale can be found here. Insiders have sold 878,210 shares of company stock worth $18,987,444 over the last 90 days. 13.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in PRIM. Meeder Asset Management Inc. lifted its stake in Primoris Services by 226.9% in the third quarter. Meeder Asset Management Inc. now owns 3,151 shares of the construction company’s stock valued at $62,000 after buying an additional 2,187 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Primoris Services in the fourth quarter valued at $87,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Primoris Services by 84.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,198 shares of the construction company’s stock valued at $93,000 after buying an additional 1,916 shares during the last quarter. First Mercantile Trust Co. lifted its stake in Primoris Services by 12.6% in the third quarter. First Mercantile Trust Co. now owns 4,922 shares of the construction company’s stock valued at $97,000 after buying an additional 550 shares during the last quarter. Finally, Denali Advisors LLC bought a new stake in Primoris Services in the fourth quarter valued at $176,000. Hedge funds and other institutional investors own 79.74% 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.