Xponance Inc. Invests $254,000 in Primoris Services Co. (NASDAQ:PRIM)

Xponance Inc. bought a new position in Primoris Services Co. (NASDAQ:PRIM) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 5,083 shares of the construction company’s stock, valued at approximately $254,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PRIM. Schroder Investment Management Group increased its stake in shares of Primoris Services by 4.4% in the 4th quarter. Schroder Investment Management Group now owns 1,005,360 shares of the construction company’s stock worth $33,388,000 after acquiring an additional 41,983 shares in the last quarter. LSV Asset Management increased its stake in shares of Primoris Services by 9.9% in the 1st quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock worth $24,812,000 after acquiring an additional 52,274 shares in the last quarter. Verition Fund Management LLC increased its stake in shares of Primoris Services by 64.9% in the 4th quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock worth $19,223,000 after acquiring an additional 227,916 shares in the last quarter. Boston Partners increased its stake in shares of Primoris Services by 5.7% in the 1st quarter. Boston Partners now owns 537,293 shares of the construction company’s stock worth $23,332,000 after acquiring an additional 28,997 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Primoris Services by 122.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 523,789 shares of the construction company’s stock worth $17,395,000 after acquiring an additional 288,651 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction that occurred on Friday, September 13th. The stock was 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. In the last ninety days, insiders sold 54,391 shares of company stock worth $3,075,454. 1.40% of the stock is owned by corporate insiders.

Primoris Services Stock Down 1.8 %

Shares of Primoris Services stock opened at $57.06 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50-day moving average of $54.18 and a 200 day moving average of $50.72. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 17.17 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.

Primoris Services (NASDAQ:PRIM) last released 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. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a net margin of 2.56% and a return on equity of 14.81%. Primoris Services’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $0.80 EPS. As a group, sell-side analysts anticipate that Primoris Services Co. will post 2.82 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid 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 yield of 0.42%. Primoris Services’s dividend payout ratio is currently 9.06%.

Primoris Services 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.