Point72 Hong Kong Ltd Takes Position in Primoris Services Co. (NASDAQ:PRIM)

Point72 Hong Kong Ltd acquired a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,800 shares of the construction company’s stock, valued at approximately $140,000.

Several other large investors also recently made changes to their positions in the business. CWM LLC lifted its stake in Primoris Services by 25.1% during the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after buying an additional 220 shares in the last quarter. FSC Wealth Advisors LLC purchased a new stake in Primoris Services during the second quarter valued at about $70,000. Canton Hathaway LLC purchased a new stake in Primoris Services during the second quarter valued at about $100,000. Innealta Capital LLC purchased a new stake in Primoris Services during the second quarter valued at about $108,000. Finally, EntryPoint Capital LLC lifted its stake in Primoris Services by 16.2% during the first quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock valued at $157,000 after buying an additional 513 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Insiders Place Their Bets

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of Primoris Services 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 in the company, valued at $8,771,288.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of Primoris Services 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 in the company, valued at $8,771,288.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John M. Perisich sold 4,391 shares of Primoris Services stock in a transaction on 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. Insiders have sold 54,391 shares of company stock worth $3,075,454 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Price Performance

PRIM stock opened at $57.51 on Friday. 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 one year low of $28.96 and a one year high of $60.26. The firm has a market capitalization of $3.08 billion, a PE ratio of 21.70 and a beta of 1.07. The firm has a 50-day moving average of $54.02 and a two-hundred day moving average of $50.33.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Primoris Services Co. will post 2.82 earnings per share for the current year.

Primoris Services Announces Dividend

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 0.42%. The ex-dividend date is Friday, September 27th. Primoris Services’s dividend payout ratio (DPR) is currently 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.