Primoris Services Sees Unusually High Options Volume (NASDAQ:PRIM)

Primoris Services Co. (NASDAQ:PRIM) was the recipient of unusually large options trading activity on Tuesday. Investors bought 2,729 put options on the stock. This represents an increase of approximately 358% compared to the average volume of 596 put options.

Primoris Services Stock Performance

NASDAQ:PRIM opened at $50.97 on Thursday. The firm has a market capitalization of $2.74 billion, a PE ratio of 19.23 and a beta of 1.07. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services has a 12-month low of $28.96 and a 12-month high of $57.72. The firm has a 50-day moving average price of $52.57 and a 200 day moving average price of $48.70.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.39. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. Research analysts anticipate that Primoris Services will post 2.82 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.47%. Primoris Services’s dividend payout ratio is 9.06%.

Insider Buying and Selling

In other news, Director David Lee King sold 2,500 shares of Primoris Services stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $52.86, for a total value of $132,150.00. Following the transaction, the director now directly owns 27,517 shares in the company, valued at $1,454,548.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Carla S. Mashinski sold 3,883 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $53.92, for a total transaction of $209,371.36. Following the sale, the director now directly owns 20,454 shares in the company, valued at $1,102,879.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Lee King sold 2,500 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $52.86, for a total transaction of $132,150.00. Following the completion of the sale, the director now directly owns 27,517 shares in the company, valued at approximately $1,454,548.62. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Trading of Primoris Services

Several hedge funds have recently modified their holdings of PRIM. CWM LLC grew its position in Primoris Services by 85.1% during the 4th quarter. CWM LLC now owns 855 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Primoris Services during the second quarter worth $70,000. Federated Hermes Inc. acquired a new stake in shares of Primoris Services in the fourth quarter valued at $61,000. Canton Hathaway LLC bought a new position in shares of Primoris Services in the second quarter valued at about $100,000. Finally, Innealta Capital LLC acquired a new position in Primoris Services during the 2nd quarter worth about $108,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.