Mercer Global Advisors Inc. ADV Has $4.86 Million Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Mercer Global Advisors Inc. ADV raised its holdings in Primoris Services Co. (NASDAQ:PRIM) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,400 shares of the construction company’s stock after purchasing an additional 11,488 shares during the quarter. Mercer Global Advisors Inc. ADV owned 0.18% of Primoris Services worth $4,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Precision Wealth Strategies LLC acquired a new position in Primoris Services during the 4th quarter worth approximately $202,000. BNP Paribas Financial Markets lifted its stake in shares of Primoris Services by 67.6% in the 4th quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company’s stock valued at $1,925,000 after acquiring an additional 23,389 shares during the last quarter. Norges Bank acquired a new stake in shares of Primoris Services during the 4th quarter valued at $15,550,000. Trexquant Investment LP bought a new stake in Primoris Services during the 4th quarter worth $2,089,000. Finally, Aigen Investment Management LP acquired a new position in Primoris Services in the 4th quarter worth about $303,000. Institutional investors own 91.82% of the company’s stock.

Insider Activity at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’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 transaction, the director now owns 162,281 shares in the company, valued at approximately $8,771,288.05. The transaction was disclosed in a document filed 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 the company’s stock in a transaction 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 sale, the director now owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction dated Friday, September 13th. The stock was 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. Insiders have sold 54,391 shares of company stock worth $3,075,454 over the last ninety days. Insiders own 1.40% of the company’s stock.

Primoris Services Stock Performance

Shares of PRIM stock opened at $59.12 on Friday. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 22.31 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 business’s 50-day moving average price is $53.62 and its 200-day moving average price is $49.92. Primoris Services Co. has a 12 month low of $28.96 and a 12 month high of $60.26.

Primoris Services (NASDAQ:PRIM) last posted its earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.65 by $0.39. The business had revenue of $1.56 billion for 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%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.80 EPS. Equities research analysts forecast 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. Stockholders 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 (DPR) 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.