Multiple hedge funds have changed their investments in Primoris Services (PRIM). CWM LLC increased its holdings by 25.1%, now owning 1,095 shares worth $55,000 after adding 220 shares. FSC Wealth Advisors LLC invested about $70,000, Canton Hathaway LLC invested around $100,000, and Innealta Capital LLC bought shares valued at $108,000. Point72 Hong Kong Ltd also purchased $140,000 worth of shares. Overall, institutional investors and hedge funds own 91.82% of the stock.
Insider Trading
Director John P. Schauerman sold 25,000 shares on September 19 for about $1.48 million. He still owns 137,281 shares worth about $8.13 million, a 0% change in ownership. Another insider, John M. Perisich, sold 4,391 shares on September 13 for about $243,000. In total, insiders sold 54,391 shares valued at $3.08 million in the last three months, holding 1.40% of the stock.
Stock Performance
PRIM stock opened at $59.70, with a one-year range of $28.96 to $60.26. It has a market cap of $3.20 billion and a price-to-earnings ratio of 22.53. The last quarter’s earnings showed $1.04 per share, surpassing estimates of $0.65, with revenue of $1.56 billion, up 10.6% year-over-year. Analysts expect an EPS of 2.82 for the current year.
Dividend Announcement
Primoris will pay a quarterly dividend of $0.06 on October 11 to investors who held shares by September 27. This gives an annual yield of 0.40% with a payout ratio of 9.06%.
About Primoris Services
Primoris Services Corporation is a specialty contractor offering construction, fabrication, maintenance, and engineering services throughout the U.S. and Canada, focusing on utilities and renewable energy.
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