Primoris Services Corp (NASDAQ:NYSE:PRIM) Director John P. Schauerman recently sold 20,000 shares of the company's stock, according to a new SEC filing. The transactions, which occurred on March 15, amounted to a total of approximately $812,240. The shares were sold at prices ranging from $40.60 to $40.68 each.
The sale was part of a series of transactions, detailed in the filing, that have adjusted Schauerman's holdings in the infrastructure company. Following the sale, Schauerman continues to indirectly hold 237,281 shares of Primoris Services Corp through a trust. Additionally, the filing showed a direct holding of 998 shares remaining in his possession.
Primoris Services Corp, a specialized contractor and infrastructure company, is known for its work in water, sewer, pipeline, and power line construction. The company has a broad presence in the construction industry, offering a range of services from engineering to construction to maintenance.
Investors often monitor insider transactions for insights into how executives and directors view the stock's value and prospects. While such sales can occur for various personal financial reasons, they are sometimes interpreted as a signal of the insider's confidence in the company's future performance.
The company's stock, traded under the ticker PRIM, is followed by investors who take an interest in the construction sector, particularly in infrastructure-related projects. Primoris Services Corp has not provided any public comment on the recent transactions reported by Director Schauerman.
InvestingPro Insights
Primoris Services Corp (NASDAQ:PRIM) has demonstrated a robust financial performance, as reflected in the real-time data from InvestingPro. With a market capitalization of $2.15 billion and a P/E ratio that stands at 17.23, the company shows a stable valuation in the market. The adjusted P/E ratio for the last twelve months as of Q4 2023 slightly lowers to 16.52, indicating a potentially more attractive valuation for investors looking at earnings.
Moreover, the company has experienced significant revenue growth, with the last twelve months as of Q4 2023 showing an impressive increase of 29.29%. This growth is a testament to the company's expanding operations and its ability to capitalize on infrastructure demands. The gross profit margin during the same period was 10.28%, which, while modest, is a critical figure that investors monitor to assess the company's profitability.
One of the InvestingPro Tips highlights that Primoris Services Corp has maintained dividend payments for 17 consecutive years, showcasing a commitment to returning value to shareholders. This consistency in dividend payments could be a reassuring signal for investors looking for steady income streams. Additionally, the company has enjoyed a high return over the last year, with a 71.0% price total return, which is indicative of the stock’s strong performance and market confidence.
For those interested in gaining deeper insights and more InvestingPro Tips on Primoris Services Corp, additional information is available at InvestingPro. Currently, there are 5 more tips listed, covering various aspects of the company's financial health and market performance. To explore these insights and make informed investment decisions, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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