DRW Securities LLC Grows Position in Primoris Services Co. (NASDAQ:PRIM)

DRW Securities LLC increased its holdings in Primoris Services Co. (NASDAQ:PRIM) by 7.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 30,150 shares of the construction company’s stock after buying an additional 2,213 shares during the quarter. DRW Securities LLC owned about 0.06% of Primoris Services worth $1,504,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Nkcfo LLC grew its position in Primoris Services by 1,055.3% in the 2nd quarter. Nkcfo LLC now owns 22,470 shares of the construction company’s stock worth $1,121,000 after purchasing an additional 20,525 shares during the period. Sei Investments Co. grew its holdings in shares of Primoris Services by 23.1% in the second quarter. Sei Investments Co. now owns 32,103 shares of the construction company’s stock worth $1,602,000 after acquiring an additional 6,022 shares during the period. Canada Pension Plan Investment Board increased its position in Primoris Services by 74.6% during the second quarter. Canada Pension Plan Investment Board now owns 54,286 shares of the construction company’s stock valued at $2,708,000 after acquiring an additional 23,200 shares during the last quarter. Inspire Investing LLC lifted its holdings in Primoris Services by 23.7% in the second quarter. Inspire Investing LLC now owns 21,572 shares of the construction company’s stock valued at $1,076,000 after acquiring an additional 4,139 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Primoris Services by 13.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 97,400 shares of the construction company’s stock worth $4,859,000 after purchasing an additional 11,488 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Down 0.4 %

Primoris Services stock opened at $59.12 on Monday. The business has a 50-day simple moving average of $53.62 and a two-hundred day simple moving average of $49.99. Primoris Services Co. has a 52-week low of $28.96 and a 52-week high of $60.26. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The company has a market cap of $3.17 billion, a P/E ratio of 22.31 and a beta of 1.07.

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

Primoris Services Announces Dividend

The business 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 dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.24 annualized dividend and a yield of 0.41%. Primoris Services’s dividend payout ratio (DPR) is presently 9.06%.

Insider Buying and Selling at Primoris Services

In other news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction on Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,391 shares of company stock valued at $3,075,454. Company insiders own 1.40% of the company’s stock.

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.