Los Angeles Capital Management LLC Makes New Investment in Primoris Services Co. (NASDAQ:PRIM)

Los Angeles Capital Management LLC purchased a new position in shares of Primoris Services Co. (NASDAQ:PRIM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,129 shares of the construction company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Precision Wealth Strategies LLC bought a new stake in shares of Primoris Services in the 4th quarter worth approximately $202,000. Victory Capital Management Inc. raised its holdings in shares of Primoris Services by 121.5% in the 4th quarter. Victory Capital Management Inc. now owns 45,471 shares of the construction company’s stock worth $1,510,000 after purchasing an additional 24,938 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Primoris Services by 31.5% in the 4th quarter. Teacher Retirement System of Texas now owns 35,303 shares of the construction company’s stock worth $1,172,000 after purchasing an additional 8,456 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Primoris Services by 67.6% in the fourth quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company’s stock worth $1,925,000 after acquiring an additional 23,389 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Primoris Services by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company’s stock worth $119,410,000 after acquiring an additional 109,481 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Insider Activity at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the sale, the director now directly owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is currently owned by insiders.

Primoris Services Stock Performance

Primoris Services stock opened at $54.60 on Monday. The firm’s 50 day simple moving average is $52.88 and its 200-day simple moving average is $49.36. The company has a market cap of $2.93 billion, a P/E ratio of 15.98 and a beta of 1.07. 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 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 earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the firm posted $0.80 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Primoris Services Co. will post 2.82 EPS for the current year.

Primoris Services Dividend Announcement

The business also recently disclosed 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Friday, September 27th. Primoris Services’s payout ratio is presently 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.