Versor Investments LP Purchases New Stake in Primoris Services Co. (NASDAQ:PRIM)

Versor Investments LP purchased a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,600 shares of the construction company’s stock, valued at approximately $279,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Primoris Services by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company’s stock valued at $119,410,000 after buying an additional 109,481 shares during the period. Schroder Investment Management Group grew its position 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 valued at $33,388,000 after buying an additional 41,983 shares during the period. LSV Asset Management grew its position in Primoris Services by 9.9% during the first quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock valued at $24,812,000 after buying an additional 52,274 shares during the period. Verition Fund Management LLC grew its position in Primoris Services by 64.9% during the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after buying an additional 227,916 shares during the period. Finally, Boston Partners grew its position in Primoris Services by 5.7% during the first quarter. Boston Partners now owns 537,293 shares of the construction company’s stock valued at $23,332,000 after buying an additional 28,997 shares during the period. Institutional investors own 91.82% of the company’s stock.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 3,883 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $53.92, for a total transaction of $209,371.36. Following the sale, the director now directly owns 20,454 shares of the company’s stock, valued at $1,102,879.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Primoris Services news, Director David Lee King sold 2,500 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $52.86, for a total transaction of $132,150.00. Following the sale, the director now directly owns 27,517 shares of the company’s stock, valued at $1,454,548.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carla S. Mashinski sold 3,883 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $53.92, for a total transaction of $209,371.36. Following the completion of the sale, the director now directly owns 20,454 shares in the company, valued at $1,102,879.68. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Primoris Services Price Performance

PRIM opened at $50.15 on Friday. The firm has a market cap of $2.69 billion, a P/E ratio of 18.92 and a beta of 1.07. The firm has a 50-day moving average of $52.55 and a 200 day moving average of $48.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.41 and a current ratio of 1.41. Primoris Services Co. has a fifty-two week low of $28.96 and a fifty-two week high of $57.72.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.65 by $0.39. The business had revenue of $1.56 billion for 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 company’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 earnings per share. On average, research analysts expect that Primoris Services Co. will post 2.82 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date is Friday, September 27th. Primoris Services’s dividend payout ratio (DPR) is presently 9.06%.

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.