Nkcfo LLC Buys 20,525 Shares of Primoris Services Co. (NASDAQ:PRIM)

Nkcfo LLC grew its position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 1,055.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,470 shares of the construction company's stock after buying an additional 20,525 shares during the quarter. Primoris Services accounts for 0.6% of Nkcfo LLC's investment portfolio, making the stock its 27th largest holding. Nkcfo LLC's holdings in Primoris Services were worth $1,121,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sei Investments Co. raised its position in Primoris Services by 23.1% during the second quarter. Sei Investments Co. now owns 32,103 shares of the construction company's stock worth $1,602,000 after acquiring an additional 6,022 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in Primoris Services by 74.6% during the second quarter. Canada Pension Plan Investment Board now owns 54,286 shares of the construction company's stock worth $2,708,000 after buying an additional 23,200 shares during the period. Inspire Investing LLC lifted its position in shares of Primoris Services by 23.7% during the second quarter. Inspire Investing LLC now owns 21,572 shares of the construction company's stock worth $1,076,000 after purchasing an additional 4,139 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Primoris Services by 13.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 97,400 shares of the construction company's stock worth $4,859,000 after purchasing an additional 11,488 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Primoris Services during the second quarter worth $6,366,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

Insider Activity at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 162,281 shares of the company's stock, valued at approximately $8,771,288.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 162,281 shares of the company's stock, valued at $8,771,288.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John M. Perisich sold 4,391 shares of the company's stock in a transaction dated Friday, September 13th. The shares were 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 sold 54,391 shares of company stock worth $3,075,454 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

Primoris Services Stock Down 0.4 %

PRIM traded down $0.24 during trading on Friday, hitting $59.12. The company had a trading volume of 1,139,483 shares, compared to its average volume of 553,706. The company has a market cap of $3.17 billion, a PE ratio of 22.31 and a beta of 1.07. The business has a 50-day moving average of $53.62 and a 200-day moving average of $49.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $60.26.

Primoris Services (NASDAQ:PRIM - Get Free Report) last released its earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.39. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. Primoris Services had a net margin of 2.56% and a return on equity of 14.81%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. As a group, analysts forecast that Primoris Services Co. will post 2.82 earnings per share for the current year.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.41%. Primoris Services's dividend payout ratio is currently 9.06%.

About Primoris Services

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.