Primoris Services Director Schauerman Sells $1.48M in Stock

In a recent transaction, John P. Schauerman, a director of Primoris Services Corp, sold 25,000 shares of the company’s common stock, generating approximately $1.48 million from the sale. The shares were sold at prices ranging from $59.25 to $59.32, with an average price of $59.25 per share.

This transaction occurred on September 19, 2024, and was subsequently reported in a Form 4 filing with the Securities and Exchange Commission. After this sale, Schauerman retains an indirect holding of 137,281 shares of Primoris Services Corp through the Schauerman Family Trust, as noted in the filing.

Primoris Services Corp, which specializes in construction and infrastructure, has seen its stock performance align with overall market trends. Investors often monitor insider transactions like Schauerman’s for insights into executive confidence and the company’s potential future performance.

This sale is significant as it sheds light on insider activity within Primoris Services Corp, and such transactions are often taken into account by investors when assessing their positions, alongside financial metrics and market indicators.

While the reasons behind Schauerman’s sale have not been disclosed, such transactions are generally considered part of standard executive financial planning and diversification strategies. Schauerman’s continued stake in the company underscores his ongoing interest in its success.

In other recent developments, Premier PV, a subsidiary of Primoris Services Corp, has achieved a noteworthy milestone, with its backlog of orders exceeding $55 million. This growth is attributed to the company’s skilled workforce and strong client relationships. Premier PV is recognized for its capabilities in electrical balance of systems (eBOS) solutions for utility-scale solar, battery energy storage systems, and operations and maintenance sectors.

The leadership team at Premier PV brings over 55 years of combined experience and is focused on innovation aimed at reducing ownership costs for clients. Stephen Jones, President of Primoris’ Renewables division, highlighted Premier PV’s innovative contributions to the rapidly evolving renewable energy market.

The company remains committed to providing high-quality products and services while pursuing new market opportunities, all while aiming to foster a sustainable energy future. However, they also caution that forward-looking statements carry inherent risks and uncertainties.

Primoris Services Corp has attracted investor attention not only due to recent insider transactions but also because of its robust stock performance and financial indicators. Over the past week, the company’s stock has shown a notable return of 8.28%. This short-term growth is part of a larger trend, as the company has also achieved a remarkable total return of 75.54% over the last year, nearing its 52-week high.

The market capitalization of Primoris Services Corp stands at approximately $3.18 billion. Its P/E ratio of 20.62 is relatively low when considered alongside its near-term earnings growth, suggesting the stock may be undervalued. Furthermore, a PEG ratio of 0.92 indicates an attractive pricing relative to expected growth rates.

Additionally, Primoris Services Corp has maintained dividend payments for 17 consecutive years, reflecting a strong commitment to shareholder returns. Analysts anticipate that the company will remain profitable this year, supported by its track record of profitability over the past twelve months. For investors seeking more insights, additional analysis on the company’s performance is available for further exploration.