Primoris services director sells $826k in company stock By Investing.com

In a recent transaction, John P. Schauerman, a director at Primoris Services Corp (NASDAQ:NYSE:), sold 20,000 shares of the company’s common stock. The sale, completed on March 21, 2024, totaled approximately $826,144, with individual shares being sold at prices ranging from $41.25 to $41.78.

This sale has adjusted Schauerman’s direct and indirect holdings in Primoris Services. Following the transaction, he now indirectly owns 217,281 shares through a trust. Additionally, there is a separate direct holding of 998 shares of common stock.

The shares were sold through multiple transactions within the provided price range. Schauerman has agreed to furnish detailed information about the number of shares sold at each price upon request from the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.

The transactions are part of the standard disclosures made by company insiders, providing transparency to investors and the market. Primoris Services Corp, headquartered in Dallas, Texas, operates in the construction industry, focusing on water, sewer, pipeline, and power line construction.

InvestingPro Insights

As investors consider the implications of insider transactions at Primoris Services Corp (NASDAQ:PRIM), recent data from InvestingPro provides a broader context for evaluating the company’s financial health and market performance. With a market capitalization of $2.21 billion and a price-to-earnings (P/E) ratio of 17.52, Primoris stands out in the construction sector. The company’s adjusted P/E ratio for the last twelve months as of Q4 2023 is slightly lower at 16.96, suggesting a modestly more favorable valuation when considering normalized earnings.

One of the notable InvestingPro Tips for Primoris is that the company has maintained dividend payments for an impressive 17 consecutive years, underlining a steady commitment to returning value to shareholders. This consistency is complemented by the fact that Primoris has been profitable over the last twelve months and that analysts predict profitability will continue this year.

Investors are also looking at performance metrics, where Primoris has shown strong returns. The company’s one-year price total return stands at a remarkable 70.09%, and it has experienced a significant price uptick over the last six months, with a 25.9% return. This robust performance is reflected in the stock trading near its 52-week high, at 98.1% of the peak price.

For those interested in a deeper dive into Primoris Services Corp, there are additional InvestingPro Tips available that could provide further insights into investment decisions. By visiting the dedicated InvestingPro page for Primoris, investors can access these tips and more detailed analytics. Additionally, using the coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to InvestingPro, where they can find a total of 8 additional InvestingPro Tips for Primoris Services Corp.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.