Point72 Asia Singapore Pte. Ltd. Sells 6,300 Shares of Primoris Services Co. (NASDAQ:PRIM)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 76.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,889 shares of the construction company’s stock after selling 6,300 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Primoris Services were worth $94,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRIM. CWM LLC raised its position 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 valued at $55,000 after purchasing an additional 220 shares during the period. FSC Wealth Advisors LLC bought a new position in shares of Primoris Services in the second quarter valued at approximately $70,000. Canton Hathaway LLC bought a new position in shares of Primoris Services in the second quarter valued at approximately $100,000. Innealta Capital LLC bought a new position in shares of Primoris Services in the second quarter valued at approximately $108,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Primoris Services in the second quarter valued at approximately $119,000. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Up 3.2 %

NASDAQ:PRIM opened at $59.61 on Friday. Primoris Services Co. has a 12 month low of $28.96 and a 12 month high of $60.26. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 22.49 and a beta of 1.07. 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 company’s 50 day moving average is $54.38 and its 200-day moving average is $51.06.

Primoris Services (NASDAQ:PRIM) last released 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 net margin of 2.56% and a return on equity of 14.81%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.80 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Primoris Services Co. will post 2.82 EPS for the current 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. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, September 27th. Primoris Services’s dividend payout ratio (DPR) is currently 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 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John M. Perisich sold 4,391 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.33, for a total transaction of $242,954.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,391 shares of company stock valued at $3,075,454. 1.40% of the stock is owned by company insiders.

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.