Primoris Services Co. (NASDAQ:PRIM) Position Reduced by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY lowered its stake in Primoris Services Co. (NASDAQ:PRIM) by 33.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,000 shares of the construction company’s stock after selling 5,000 shares during the period. Paradigm Capital Management Inc. NY’s holdings in Primoris Services were worth $499,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Precision Wealth Strategies LLC bought a new stake in Primoris Services in the fourth quarter valued at about $202,000. Norges Bank bought a new stake in shares of Primoris Services in the 4th quarter valued at approximately $15,550,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Primoris Services by 27.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,453 shares of the construction company’s stock valued at $181,000 after acquiring an additional 1,173 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Primoris Services by 2.3% during the 4th quarter. Eagle Asset Management Inc. now owns 215,111 shares of the construction company’s stock valued at $7,144,000 after acquiring an additional 4,914 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Primoris Services by 4.4% during the fourth quarter. Schroder Investment Management Group now owns 1,005,360 shares of the construction company’s stock worth $33,388,000 after purchasing an additional 41,983 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Stock Down 0.8 %

PRIM stock opened at $58.62 on Tuesday. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 22.12 and a beta of 1.07. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $60.26. The firm has a fifty day moving average price of $53.75 and a two-hundred day moving average price of $50.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41.

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

Primoris Services Dividend Announcement

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

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’s 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 sale, the director now directly owns 162,281 shares in the company, valued at $8,771,288.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John P. Schauerman sold 25,000 shares of the business’s 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 transaction, the director now owns 162,281 shares of the company’s stock, valued at approximately $8,771,288.05. The disclosure for this sale can be found here. Insiders sold a total of 54,391 shares of company stock worth $3,075,454 in the last three months. 1.40% of the stock is owned by insiders.

Primoris Services Company Profile

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.