Primoris Services Co. (NASDAQ:PRIM) Shares Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft lifted its position in Primoris Services Co. (NASDAQ:PRIM) by 121.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,235 shares of the construction company’s stock after acquiring an additional 6,705 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Primoris Services were worth $608,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Primoris Services by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company’s stock valued at $119,410,000 after buying an additional 109,481 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Primoris Services by 4.4% during the 4th quarter. Schroder Investment Management Group now owns 1,005,360 shares of the construction company’s stock worth $33,388,000 after acquiring an additional 41,983 shares in the last quarter. Bruni J V & Co. Co. increased its holdings in shares of Primoris Services by 0.5% during the 4th quarter. Bruni J V & Co. Co. now owns 585,009 shares of the construction company’s stock valued at $19,428,000 after acquiring an additional 2,764 shares during the last quarter. LSV Asset Management raised its position in shares of Primoris Services by 9.9% in the first quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock valued at $24,812,000 after purchasing an additional 52,274 shares during the period. Finally, Verition Fund Management LLC grew its stake in Primoris Services by 64.9% in the 4th quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after buying an additional 227,916 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.

Insider Activity at Primoris Services

In other news, Director Carla S. Mashinski sold 3,883 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $53.92, for a total value of $209,371.36. Following the transaction, the director now owns 20,454 shares of the company’s stock, valued at approximately $1,102,879.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carla S. Mashinski sold 3,883 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $53.92, for a total value of $209,371.36. Following the completion of the transaction, the director now owns 20,454 shares in the company, valued at $1,102,879.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Schauerman sold 15,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $51.92, for a total value of $778,800.00. Following the transaction, the director now directly owns 202,281 shares of the company’s stock, valued at $10,502,429.52. The disclosure for this sale can be found here. Insiders sold a total of 31,383 shares of company stock valued at $1,649,421 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Stock Performance

PRIM traded up $1.03 during trading on Thursday, hitting $54.10. The stock had a trading volume of 467,860 shares, compared to its average volume of 569,419. The firm has a market cap of $2.90 billion, a PE ratio of 20.42 and a beta of 1.08. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services Co. has a 12 month low of $28.96 and a 12 month high of $57.72. The company has a 50 day simple moving average of $52.28 and a 200-day simple moving average of $46.78.

Primoris Services (NASDAQ:PRIM) last released its earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business earned $0.80 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts expect that Primoris Services Co. will post 2.82 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, September 27th. Primoris Services’s payout ratio is presently 9.06%.

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.