Schubert & Co Buys Shares of 6,855 Primoris Services Co. (NASDAQ:PRIM)

Schubert & Co bought a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 6,855 shares of the construction company’s stock, valued at approximately $398,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRIM. Blue Trust Inc. boosted its position in Primoris Services by 27.3% during the third quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock worth $53,000 after acquiring an additional 197 shares during the last quarter. CWM LLC boosted its holdings in shares of Primoris Services by 25.1% during the second 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 purchased a new stake in shares of Primoris Services in the second quarter valued at $70,000. Canton Hathaway LLC acquired a new position in Primoris Services in the second quarter valued at $100,000. Finally, Innealta Capital LLC purchased a new position in Primoris Services during the second quarter worth about $108,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. initiated coverage on shares of Primoris Services in a research note on Monday, October 7th. They set an “overweight” rating and a $71.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Primoris Services Trading Up 1.5 %

NASDAQ:PRIM traded up $0.94 on Friday, hitting $63.27. 1,243,931 shares of the stock were exchanged, compared to its average volume of 554,887. The stock has a fifty day moving average of $55.99 and a 200-day moving average of $52.30. The stock has a market cap of $3.40 billion, a PE ratio of 22.27 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. Primoris Services Co. has a fifty-two week low of $28.96 and a fifty-two week high of $63.85.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating 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 firm 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. Primoris Services’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Primoris Services Co. will post 3.33 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, September 27th. Primoris Services’s dividend payout ratio (DPR) is presently 8.45%.

Insiders Place Their Bets

In other news, Director John P. Schauerman sold 25,000 shares of the 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 completion of the sale, the director now owns 162,281 shares in the company, valued at approximately $8,771,288.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of Primoris Services stock in a transaction on 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 completion of the sale, the director now owns 162,281 shares of the company’s stock, valued at approximately $8,771,288.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,391 shares of company stock worth $3,075,454 over the last quarter. 1.30% of the stock is owned by corporate 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.