BidaskClub cut shares of Primoris Services (NASDAQ:PRIM) from a hold rating to a sell rating in a research report sent to investors on Saturday, BidAskClub reports.

PRIM has been the topic of several other reports. Zacks Investment Research cut ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. ValuEngine upgraded The Western Union from a sell rating to a hold rating in a research note on Friday, March 22nd.

Shares of NASDAQ:PRIM opened at $20.25 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average is $19.75. Primoris Services has a 1-year low of $17.82 and a 1-year high of $28.54. The company has a market cap of $1.05 billion, a PE ratio of 11.91, a PEG ratio of 1.21 and a beta of 1.55.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Tuesday, May 7th. The construction company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Primoris Services had a return on equity of 13.86% and a net margin of 2.54%. The business had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $635.80 million. During the same period last year, the business earned $0.01 EPS. The business’s revenue was up 31.2% on a year-over-year basis. Equities research analysts forecast that Primoris Services will post 1.7 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, June 27th. Primoris Services’s dividend payout ratio (DPR) is presently 14.12%.

In other Primoris Services news, Director Brian Pratt sold 175,118 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $20.09, for a total transaction of $3,518,120.62. Following the transaction, the director now directly owns 1,887,896 shares in the company, valued at approximately $37,927,830.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 574,928 shares of company stock worth $11,270,214. Company insiders own 13.80% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investors Research Corp raised its stake in shares of Primoris Services by 3.9% during the 2nd quarter. Investors Research Corp now owns 15,800 shares of the construction company’s stock worth $331,000 after purchasing an additional 600 shares during the period. First Mercantile Trust Co. raised its stake in shares of Primoris Services by 32.6% during the 1st quarter. First Mercantile Trust Co. now owns 5,082 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,250 shares during the period. Legal & General Group Plc raised its stake in shares of Primoris Services by 8.9% during the 4th quarter. Legal & General Group Plc now owns 16,103 shares of the construction company’s stock worth $309,000 after purchasing an additional 1,315 shares during the period. Commerce Bank raised its stake in shares of Primoris Services by 9.1% during the 1st quarter. Commerce Bank now owns 23,620 shares of the construction company’s stock worth $488,000 after purchasing an additional 1,975 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Primoris Services by 0.8% during the 1st quarter. Eagle Asset Management Inc. now owns 298,991 shares of the construction company’s stock worth $6,183,000 after purchasing an additional 2,386 shares during the period. Institutional investors own 76.85% 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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