PFG Investments LLC Trims Position in Primoris Services Co. (NASDAQ:PRIM)

PFG Investments LLC lessened its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 16.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,140 shares of the construction company’s stock after selling 1,248 shares during the quarter. PFG Investments LLC’s holdings in Primoris Services were worth $306,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. CWM LLC lifted its stake in shares of Primoris Services by 25.1% during the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after purchasing an additional 220 shares during the period. Arizona State Retirement System lifted its stake in shares of Primoris Services by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 14,959 shares of the construction company’s stock worth $746,000 after purchasing an additional 294 shares during the period. M&T Bank Corp lifted its stake in shares of Primoris Services by 6.3% during the 4th quarter. M&T Bank Corp now owns 7,387 shares of the construction company’s stock worth $245,000 after purchasing an additional 439 shares during the period. EntryPoint Capital LLC raised its position in shares of Primoris Services by 16.2% in the 1st quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock worth $157,000 after buying an additional 513 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Primoris Services by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 9,546 shares of the construction company’s stock worth $406,000 after buying an additional 751 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling

In related news, Director John P. Schauerman sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the sale, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Trading Up 1.1 %

Shares of PRIM opened at $54.60 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $2.93 billion, a P/E ratio of 20.60 and a beta of 1.07. The stock’s fifty day simple moving average is $52.75 and its 200 day simple moving average is $49.11. Primoris Services Co. has a twelve month low of $28.96 and a twelve month high of $57.72.

Primoris Services (NASDAQ:PRIM) last issued its earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.39. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.80 EPS. On average, equities research analysts forecast that Primoris Services Co. will post 2.82 earnings per share for the current year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, September 27th. Primoris Services’s dividend payout ratio (DPR) is currently 9.06%.

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.