Inspire Investing LLC Buys 4,139 Shares of Primoris Services Co. (NASDAQ:PRIM)

Inspire Investing LLC grew its stake in Primoris Services Co. (NASDAQ:PRIM) by 23.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,572 shares of the construction company’s stock after acquiring an additional 4,139 shares during the period. Inspire Investing LLC’s holdings in Primoris Services were worth $1,076,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CWM LLC raised its stake in shares of Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after acquiring an additional 220 shares during the last quarter. FSC Wealth Advisors LLC bought a new position in shares of Primoris Services in the second quarter worth about $70,000. Canton Hathaway LLC bought a new position in shares of Primoris Services in the second quarter worth about $100,000. Innealta Capital LLC bought a new position in shares of Primoris Services in the second quarter worth about $108,000. Finally, EntryPoint Capital LLC raised its stake in shares of Primoris Services by 16.2% in the first quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock worth $157,000 after acquiring an additional 513 shares during the last quarter. 91.82% of the stock is owned by institutional investors.

Primoris Services Trading Up 4.0 %

Shares of NASDAQ PRIM opened at $59.36 on Friday. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $59.69. The company has a market cap of $3.19 billion, a PE ratio of 22.40 and a beta of 1.07. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $53.49 and a two-hundred day moving average of $49.70.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. The business had revenue of $1.56 billion during 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%. Primoris Services’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. As a group, equities analysts expect that Primoris Services Co. will post 2.82 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Friday, September 27th. Primoris Services’s dividend payout ratio (DPR) is 9.06%.

Insider Buying and Selling

In related 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 transaction 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 SEC, which is available at this link. In related news, insider John M. Perisich sold 4,391 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,351,250.00. Following the transaction, the director now owns 162,281 shares of the company’s stock, valued at approximately $8,771,288.05. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.