Primoris Services Corp (NASDAQ:PRIM) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 832,600 shares, a decrease of 18.6% from the June 15th total of 1,022,800 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 180,300 shares, the days-to-cover ratio is presently 4.6 days.

Primoris Services stock traded up $0.24 during mid-day trading on Monday, reaching $20.64. The stock had a trading volume of 3,927 shares, compared to its average volume of 152,889. The firm has a market cap of $1.04 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.23 and a beta of 1.55. The company’s 50-day moving average price is $20.05. Primoris Services has a one year low of $17.82 and a one year high of $27.92. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.41 and a quick ratio of 1.41.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Tuesday, May 7th. The construction company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. The company had revenue of $661.60 million for the quarter, compared to analysts’ expectations of $635.80 million. Primoris Services had a net margin of 2.54% and a return on equity of 13.86%. Primoris Services’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. On average, analysts forecast that Primoris Services will post 1.66 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Thursday, June 27th. Primoris Services’s payout ratio is 14.12%.

A number of analysts have recently weighed in on PRIM shares. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. BidaskClub downgraded shares of Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 13th.

In other news, Director Brian Pratt sold 300,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $19.00, for a total value of $5,700,000.00. Following the sale, the director now directly owns 1,587,896 shares of the company’s stock, valued at approximately $30,170,024. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 574,928 shares of company stock worth $11,270,214 over the last ninety days. Insiders own 13.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Primoris Services by 2.8% during the 4th quarter. BlackRock Inc. now owns 2,839,156 shares of the construction company’s stock valued at $54,312,000 after purchasing an additional 76,820 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Primoris Services by 0.5% during the 4th quarter. Northern Trust Corp now owns 728,993 shares of the construction company’s stock valued at $13,946,000 after purchasing an additional 3,808 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Primoris Services during the 4th quarter valued at approximately $201,000. Two Sigma Advisers LP grew its holdings in shares of Primoris Services by 5.0% during the 4th quarter. Two Sigma Advisers LP now owns 129,534 shares of the construction company’s stock valued at $2,478,000 after purchasing an additional 6,200 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Primoris Services by 355.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,068 shares of the construction company’s stock worth $250,000 after buying an additional 10,198 shares during the period. Institutional investors own 76.83% 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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