On May 10, 2024, Thomas McCormick, CEO & PRESIDENT of Primoris Services Corp (PRIM, Financial), sold 10,000 shares of the company. The transaction was filed on May 13, 2024, as reported in the SEC Filing.
Primoris Services Corp (PRIM, Financial) specializes in construction, fabrication, maintenance, replacement, and engineering services. The company's projects include power, renewable energy, water/wastewater, and transportation infrastructure.
Over the past year, Thomas McCormick has sold a total of 61,915 shares and has not purchased any shares. This recent sale is part of a broader trend within the company, where there have been 14 insider sells and no insider buys over the past year.
On the day of the sale, shares of Primoris Services Corp were priced at $49.47. This pricing gives the company a market cap of approximately $2.65 billion. The price-earnings ratio stands at 18.61, which is above both the industry median of 15.545 and the company's historical median.
According to the GF Value, the intrinsic value estimate for Primoris Services Corp is $37.65 per share, making the stock significantly overvalued with a price-to-GF-Value ratio of 1.31.
The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider may interest investors and analysts who track insider behaviors as indicators of confidence levels in the company's future prospects.
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.
