On March 13, 2024, Director David King executed a sale of 2,500 shares of Primoris Services Corp (NYSE:PRIM), as reported in a recent SEC filing. The transaction was carried out at an average price of $40.69 per share, resulting in a total sale amount of $101,725.
Primoris Services Corp is a diversified engineering and construction firm specializing in infrastructure projects, including construction, fabrication, maintenance, replacement, water and wastewater, and engineering services. The company caters to a wide range of industries, such as power, utilities, petrochemical, energy, and more, providing critical services essential for the development and maintenance of energy and infrastructure assets.
Over the past year, the insider has sold a cumulative total of 7,500 shares of Primoris Services Corp and has not made any share purchases. This latest transaction continues a pattern of insider sales for the company, with a total of 12 insider sales and no insider buys reported over the same period.
As of the date of the insider's recent sale, Primoris Services Corp had a market capitalization of $2.147 billion. The stock's price-earnings ratio stood at 17.32, surpassing both the industry median of 15.27 and the company's own historical median price-earnings ratio.
The shares were trading at $40.69 on the day of the sale, aligning with the company's current market valuation. According to the GuruFocus Value, which is set at $37.08, Primoris Services Corp is considered to be Fairly Valued, with a price-to-GF-Value ratio of 1.1.
The GF Value is a proprietary valuation metric developed by GuruFocus, which incorporates historical trading multiples, an adjustment factor based on the company's past performance, and future business performance estimates provided by Morningstar analysts.
Investors and stakeholders often monitor insider transactions as they can provide insights into how the company's executives and directors view the stock's value and future prospects. The consistent pattern of insider sales at Primoris Services Corp may be a point of interest for market watchers and shareholders alike.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
