Dana Investment Advisors Inc. Sells 28,215 Shares of Primoris Services Co. (NASDAQ:PRIM)

Dana Investment Advisors Inc. lessened its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 248,665 shares of the construction company’s stock after selling 28,215 shares during the period. Dana Investment Advisors Inc. owned about 0.46% of Primoris Services worth $12,406,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PRIM. CWM LLC grew its position in Primoris Services by 25.1% during the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after buying an additional 220 shares in the last quarter. FSC Wealth Advisors LLC bought a new stake in shares of Primoris Services during the 2nd quarter valued at $70,000. Canton Hathaway LLC acquired a new stake in shares of Primoris Services during the 2nd quarter worth $100,000. Innealta Capital LLC acquired a new stake in shares of Primoris Services during the 2nd quarter worth $108,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Primoris Services in the second quarter worth $119,000. 91.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider John M. Perisich sold 4,391 shares of the stock in a transaction dated Friday, September 13th. The shares were 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the sale, the director now owns 137,281 shares in the company, valued at approximately $8,133,899.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John M. Perisich sold 4,391 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.33, for a total value of $242,954.03. 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 ninety days. 1.40% of the stock is owned by insiders.

Primoris Services Trading Up 0.1 %

PRIM opened at $58.09 on Tuesday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 21.92 and a beta of 1.07. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services Co. has a twelve month low of $28.96 and a twelve month high of $60.26. The company has a 50-day simple moving average of $54.18 and a 200 day simple moving average of $50.72.

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

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.41%. 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.