nVerses Capital LLC Takes Position in Primoris Services Co. (NASDAQ:PRIM)

nVerses Capital LLC bought a new position in shares of Primoris Services Co. (NASDAQ:PRIM) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,900 shares of the construction company’s stock, valued at approximately $244,000.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Primoris Services during the fourth quarter worth about $15,550,000. Goldman Sachs Group Inc. lifted its position in shares of Primoris Services by 122.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 523,789 shares of the construction company’s stock worth $17,395,000 after purchasing an additional 288,651 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Primoris Services by 64.9% during the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock worth $19,223,000 after purchasing an additional 227,916 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Primoris Services by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company’s stock valued at $119,410,000 after buying an additional 109,481 shares during the last quarter. Finally, SG Capital Management LLC acquired a new stake in Primoris Services in the first quarter valued at $4,192,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 1.3 %

NASDAQ:PRIM opened at $56.44 on Monday. Primoris Services Co. has a 1 year low of $28.96 and a 1 year high of $57.72. The stock has a market cap of $3.03 billion, a P/E ratio of 21.30 and a beta of 1.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a 50-day simple moving average of $52.50 and a 200-day simple moving average of $48.47.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company posted $0.80 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts anticipate that Primoris Services Co. will post 2.82 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.43%. Primoris Services’s dividend payout ratio is currently 9.06%.

Insider Activity at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 3,883 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $53.92, for a total transaction of $209,371.36. Following the transaction, the director now owns 20,454 shares of the company’s stock, valued at $1,102,879.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Carla S. Mashinski sold 3,883 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $53.92, for a total value of $209,371.36. Following the completion of the sale, the director now directly owns 20,454 shares of the company’s stock, valued at $1,102,879.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Lee King sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $52.86, for a total transaction of $132,150.00. Following the transaction, the director now owns 27,517 shares in the company, valued at $1,454,548.62. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.