Nkcfo LLC Acquires 20,525 Shares of Primoris Services Co. (NASDAQ:PRIM)

Nkcfo LLC grew its holdings in Primoris Services Co. (NASDAQ:PRIM) by 1,055.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,470 shares of the construction company’s stock after acquiring an additional 20,525 shares during the period. Primoris Services accounts for 0.6% of Nkcfo LLC’s portfolio, making the stock its 27th largest holding. Nkcfo LLC’s holdings in Primoris Services were worth $1,121,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CWM LLC lifted its position in Primoris Services by 25.1% during the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after purchasing an additional 220 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Primoris Services during the 2nd quarter valued at about $70,000. Canton Hathaway LLC bought a new position in shares of Primoris Services during the 2nd quarter valued at approximately $100,000. Innealta Capital LLC purchased a new stake in Primoris Services in the 2nd quarter worth approximately $108,000. Finally, EntryPoint Capital LLC raised its stake in Primoris Services by 16.2% during the 1st 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 period. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of NASDAQ:PRIM opened at $59.11 on Friday. The firm’s 50 day simple moving average is $53.62 and its two-hundred day simple moving average is $49.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market capitalization of $3.17 billion, a P/E ratio of 22.31 and a beta of 1.07. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $60.26.

Primoris Services (NASDAQ:PRIM) last issued 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. The company 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 quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Research analysts expect that Primoris Services Co. will post 2.82 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend 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 is 9.06%.

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 on Thursday, September 19th. The shares were sold at an average price of $59.25, for a total value of $1,481,250.00. Following the sale, the director now owns 137,281 shares in the company, valued at approximately $8,133,899.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction that occurred on 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 sale, 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 filing with the SEC, which is accessible through this hyperlink. Also, insider John M. Perisich sold 4,391 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.33, for a total value of $242,954.03. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,391 shares of company stock valued at $3,075,454. Corporate insiders own 1.40% of the company’s stock.

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.