SG Americas Securities LLC Has $1.10 Million Stock Position in Primoris Services Co. (NASDAQ:PRIM)

SG Americas Securities LLC reduced its holdings in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 80.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,865 shares of the construction company's stock after selling 77,463 shares during the period. SG Americas Securities LLC's holdings in Primoris Services were worth $1,096,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC increased its stake in shares of Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company's stock worth $55,000 after acquiring an additional 220 shares during the last quarter. Arizona State Retirement System increased its holdings in Primoris Services by 2.0% in the second quarter. Arizona State Retirement System now owns 14,959 shares of the construction company's stock worth $746,000 after buying an additional 294 shares during the last quarter. EntryPoint Capital LLC raised its position in Primoris Services by 16.2% during the first quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company's stock valued at $157,000 after acquiring an additional 513 shares in the last quarter. ProShare Advisors LLC lifted its stake in Primoris Services by 8.5% in the first quarter. ProShare Advisors LLC now owns 9,546 shares of the construction company's stock valued at $406,000 after acquiring an additional 751 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Primoris Services by 9.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,189 shares of the construction company's stock worth $608,000 after acquiring an additional 1,036 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Performance

PRIM stock traded up $1.38 during midday trading on Friday, hitting $61.52. 519,170 shares of the company traded hands, compared to its average volume of 550,177. Primoris Services Co. has a twelve month low of $28.96 and a twelve month high of $61.93. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 21.62 and a beta of 1.07. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The business has a 50 day simple moving average of $54.89 and a 200-day simple moving average of $51.62.

Primoris Services (NASDAQ:PRIM - Get Free Report) last posted its earnings results on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.39. Primoris Services had a net margin of 2.56% and a return on equity of 14.81%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business posted $0.80 EPS. Primoris Services's revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts predict that Primoris Services Co. will post 3.33 earnings per share for the current year.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, September 27th. Primoris Services's dividend payout ratio (DPR) is currently 8.45%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. assumed coverage on shares of Primoris Services in a research note on Monday. They issued an "overweight" rating and a $71.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $58.00.

Insiders Place Their Bets

In other news, Director John P. Schauerman sold 25,000 shares of the stock in a transaction that occurred on 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 directly owns 162,281 shares of the company's stock, valued at approximately $8,771,288.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 transaction, the director now owns 162,281 shares of the company's stock, valued at approximately $8,771,288.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John M. Perisich sold 4,391 shares of the 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 have sold a total of 54,391 shares of company stock valued at $3,075,454 in the last three months. Company insiders own 1.40% of the company's stock.

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.