On November 13, 2024, Thomas McCormick, CEO & President of Primoris Services Corp (PRIM, Financial), executed a sale of 15,000 shares of the company at a price of $81.28 per share. This transaction was reported in a recent SEC Filing. Following this sale, the insider now owns 61,390 shares of Primoris Services Corp.
Primoris Services Corp specializes in construction, fabrication, maintenance, replacement, and engineering services. The company caters to major public utilities, petrochemical companies, energy companies, municipalities, and other customers.
Over the past year, Thomas McCormick has sold a total of 76,915 shares and has not made any purchases of the company's stock. The broader insider transaction trend at Primoris Services Corp shows a total of 19 insider sales and no insider buys over the same period.
The shares of Primoris Services Corp were trading at $81.28 on the day of the sale, giving the company a market cap of approximately $4.19 billion. The price-earnings ratio of the company stands at 25.85, which is above both the industry median of 15.755 and the historical median for the company.
According to the GF Value assessment, Primoris Services Corp is currently significantly overvalued. The GF Value, set at $39.45, suggests a price-to-GF-Value ratio of 2.06, indicating that the stock's current price is considerably higher than its estimated intrinsic value based on historical trading multiples, an adjustment factor from past performance, and future business performance estimates provided by Morningstar analysts.
This insider sale comes at a time when the stock is perceived as significantly overvalued according to GuruFocus's proprietary GF Value. Investors and stakeholders in Primoris Services Corp may want to consider the implications of the insider's trading activity alongside the company's current valuation metrics.
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.
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