Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY decreased its holdings in Primoris Services Co. (NASDAQ:PRIM) by 33.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the construction company’s stock after selling 5,000 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in Primoris Services were worth $499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PRIM. Schroder Investment Management Group grew its holdings in Primoris Services by 4.4% in the fourth quarter. Schroder Investment Management Group now owns 1,005,360 shares of the construction company’s stock valued at $33,388,000 after purchasing an additional 41,983 shares during the period. LSV Asset Management increased its holdings in shares of Primoris Services by 9.9% during the 1st quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock worth $24,812,000 after buying an additional 52,274 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Primoris Services by 64.9% in the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after acquiring an additional 227,916 shares during the last quarter. Boston Partners grew its position in Primoris Services by 5.7% during the first quarter. Boston Partners now owns 537,293 shares of the construction company’s stock valued at $23,332,000 after acquiring an additional 28,997 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Primoris Services by 122.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 523,789 shares of the construction company’s stock worth $17,395,000 after acquiring an additional 288,651 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Transactions at Primoris Services

In related news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the sale, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Primoris Services news, insider John M. Perisich sold 4,391 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction dated 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 sale, the director now directly owns 162,281 shares in the company, valued at $8,771,288.05. The disclosure for this sale can be found here. Insiders sold 54,391 shares of company stock valued at $3,075,454 over the last quarter. Company insiders own 1.40% of the company’s stock.

Primoris Services Stock Performance

NASDAQ PRIM opened at $58.62 on Tuesday. The business’s 50-day simple moving average is $53.75 and its 200-day simple moving average is $50.11. The firm has a market capitalization of $3.14 billion, a P/E ratio of 22.12 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. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.39. Primoris Services had a net margin of 2.56% and a return on equity of 14.81%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. Primoris Services’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts predict 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. Shareholders 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 0.41%. The ex-dividend date of this dividend is Friday, September 27th. Primoris Services’s dividend payout ratio is presently 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.