Several hedge funds and institutional investors have recently adjusted their stakes in Primoris Services (PRIM). CWM LLC increased its shares by 25.1%, owning 1,095 shares worth $55,000 after adding 220 shares. FSC Wealth Advisors LLC invested around $70,000 in a new position, while Canton Hathaway LLC invested about $100,000. Innealta Capital LLC entered with a value of about $108,000, and Point72 Hong Kong Ltd purchased $140,000 of shares. Overall, 91.82% of PRIM is held by institutional investors and hedge funds.
Insider Activity
Director John P. Schauerman sold 25,000 shares on September 19 for $1.48 million, retaining 137,281 shares valued at $8.13 million. Another insider, John M. Perisich, sold 4,391 shares on September 13 for $242,954. Overall, insiders have sold 54,391 shares worth $3.08 million in the past three months, with insiders owning 1.40% of the company.
Stock Performance
PRIM stock opened at $59.70. It has a 1-year low of $28.96 and a high of $60.26, with a market cap of $3.20 billion. Recent earnings on August 5 showed $1.04 earnings per share, surpassing the estimate of $0.65. Revenue was $1.56 billion, up 10.6% from last year.
Dividend Announcement
Primoris Services announced a quarterly dividend of $0.06 per share payable on October 11. The annualized dividend is $0.24, yielding 0.40%, with a payout ratio of 9.06%.
About Primoris Services
Primoris Services Corporation is a specialty contractor that offers construction, maintenance, and engineering services in the U.S. and Canada, focusing on Utilities and Energy/Renewables.
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Want to know more about hedge fund holdings in PRIM? Check HoldingsChannel.com for the latest filings and trades for Primoris Services Co.
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