Primoris Services Co. (NASDAQ:PRIM) Shares Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC boosted its position in Primoris Services Co. (NASDAQ:PRIM) by 75.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,348 shares of the construction company’s stock after buying an additional 38,748 shares during the period. Susquehanna Fundamental Investments LLC owned approximately 0.17% of Primoris Services worth $4,507,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC boosted its holdings in shares of Primoris Services by 25.1% in the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after acquiring an additional 220 shares during the last quarter. FSC Wealth Advisors LLC purchased a new stake in Primoris Services in the second quarter valued at $70,000. Canton Hathaway LLC acquired a new stake in Primoris Services during the 2nd quarter worth about $100,000. Innealta Capital LLC acquired a new stake in Primoris Services during the 2nd quarter worth about $108,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Primoris Services during the 2nd quarter valued at about $140,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Activity

In related news, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $59.25, for a total value of $1,481,250.00. Following the completion of the transaction, the director now owns 137,281 shares of the company’s stock, valued at approximately $8,133,899.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction on 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 SEC, which is available at this link. Also, 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 completion of the sale, the director now directly owns 137,281 shares of the company’s stock, valued at approximately $8,133,899.25. The disclosure for this sale can be found here. Insiders have sold 54,391 shares of company stock worth $3,075,454 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Primoris Services Stock Up 0.8 %

Shares of PRIM opened at $58.03 on Monday. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 21.90 and a beta of 1.07. Primoris Services Co. has a 52 week low of $28.96 and a 52 week high of $60.26. The stock’s 50-day moving average price is $54.12 and its 200-day moving average price is $50.59. 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 (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the company earned $0.80 EPS. The business’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts predict that Primoris Services Co. will post 2.82 EPS for the current 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 given a $0.06 dividend. The ex-dividend date 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%.

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.