Sei Investments Co. Raises Stock Holdings in Primoris Services Co. (NASDAQ:PRIM)

Sei Investments Co. lifted its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 23.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,103 shares of the construction company’s stock after acquiring an additional 6,022 shares during the period. Sei Investments Co. owned 0.06% of Primoris Services worth $1,602,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWM LLC grew its position in Primoris Services by 25.1% during the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after purchasing an additional 220 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in shares of Primoris Services during the second quarter worth about $70,000. Canton Hathaway LLC purchased a new position in shares of Primoris Services during the second quarter worth about $100,000. Innealta Capital LLC acquired a new position in Primoris Services in the 2nd quarter valued at about $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 valued at $157,000 after acquiring an additional 513 shares during the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Trading Up 3.4 %

Shares of PRIM stock opened at $59.70 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of 22.53 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 is $54.38 and its two-hundred day moving average is $51.14. Primoris Services Co. has a twelve month low of $28.96 and a twelve month high of $60.26.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Equities analysts forecast that Primoris Services Co. will post 2.82 EPS for the current year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.40%. Primoris Services’s payout ratio is currently 9.06%.

Insider Buying and Selling at Primoris Services

In other news, insider John M. Perisich sold 4,391 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.33, for a total transaction of $242,954.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 137,281 shares in the company, valued at $8,133,899.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John M. Perisich sold 4,391 shares of the company’s 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. In the last 90 days, insiders have sold 54,391 shares of company stock valued at $3,075,454. 1.40% of the stock is owned by corporate insiders.

About Primoris Services

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.