Several hedge funds and investors have adjusted their holdings of Primoris Services (PRIM). Notable changes include:
- CWM LLC increased its stake by 25.1%, owning 1,095 shares valued at $55,000 after acquiring 220 more shares.
- FSC Wealth Advisors LLC invested approximately $70,000.
- Canton Hathaway LLC’s new stake is worth about $100,000.
- Innealta Capital LLC acquired around $108,000 worth of shares.
- Point72 Hong Kong Ltd purchased a position valued at $140,000.
Overall, 91.82% of PRIM stock is owned by institutional investors.
Insider Activity
Director John P. Schauerman sold 25,000 shares on September 19 for $1,481,250, now holding 137,281 shares valued at about $8.13 million. Insider John M. Perisich sold 4,391 shares on September 13 for $242,954. In total, insiders have sold 54,391 shares worth $3,075,454 in the last three months, with insiders owning 1.40% of the stock.
Stock Performance
PRIM opened at $59.70. It has a 1-year low of $28.96 and a high of $60.26, with a market cap of $3.2 billion and a price-to-earnings ratio of 22.53. The company reported $1.04 EPS in its last quarter, beating estimates, and revenue increased by 10.6% year-over-year.
Dividend Announcement
Primoris recently announced a quarterly dividend of $0.06 per share, payable on October 11 to investors of record on September 27. This results in an annual yield of 0.40%.
About Primoris Services
Primoris Services Corporation is a specialty contractor in the U.S. and Canada, providing construction, maintenance, and engineering services through its Utilities and Energy/Renewables segments.
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