Arizona State Retirement System Acquires 294 Shares of Primoris Services Co. (NASDAQ:PRIM)

Arizona State Retirement System boosted its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,959 shares of the construction company’s stock after purchasing an additional 294 shares during the quarter. Arizona State Retirement System’s holdings in Primoris Services were worth $746,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Primoris Services by 25.1% during the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after buying an additional 220 shares in the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Primoris Services during the second quarter worth $70,000. Canton Hathaway LLC purchased a new position in Primoris Services during the second quarter valued at $100,000. Innealta Capital LLC bought a new stake in Primoris Services in the 2nd quarter valued at $108,000. Finally, EntryPoint Capital LLC lifted its stake in Primoris Services by 16.2% in the 1st quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock worth $157,000 after purchasing an additional 513 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 approximately $8,771,288.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Primoris Services Stock Up 1.1 %

PRIM opened at $54.60 on Friday. Primoris Services Co. has a 52 week low of $28.96 and a 52 week high of $57.72. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $52.88 and a two-hundred day simple moving average of $49.29. The company has a market capitalization of $2.93 billion, a PE ratio of 20.60 and a beta of 1.07.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the company earned $0.80 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. Analysts forecast that Primoris Services Co. will post 2.82 earnings per share 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. Investors of record on Friday, September 27th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, September 27th. Primoris Services’s payout ratio is 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.