Ausbil Investment Management Ltd Has $3.38 Million Position in Primoris Services Co. (NASDAQ:PRIM)

Ausbil Investment Management Ltd increased its holdings in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 31.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,223 shares of the construction company's stock after buying an additional 14,033 shares during the quarter. Ausbil Investment Management Ltd owned about 0.11% of Primoris Services worth $3,382,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Primoris Services by 27.3% during the 3rd quarter. Blue Trust Inc. now owns 919 shares of the construction company's stock worth $53,000 after buying an additional 197 shares in the last quarter. CWM LLC raised its holdings in Primoris Services by 25.1% during the second quarter. CWM LLC now owns 1,095 shares of the construction company's stock worth $55,000 after purchasing an additional 220 shares in the last quarter. Arizona State Retirement System lifted its position 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 purchasing an additional 294 shares during the period. EntryPoint Capital LLC lifted its position in Primoris Services by 16.2% in the first quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company's stock worth $157,000 after purchasing an additional 513 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Primoris Services by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 9,546 shares of the construction company's stock valued at $406,000 after purchasing an additional 751 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Primoris Services

In related news, Director John P. Schauerman sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the completion of the sale, the director now directly owns 137,281 shares in the company, valued at approximately $8,133,899.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John P. Schauerman sold 25,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $59.25, for a total transaction of $1,481,250.00. Following the completion of the sale, the director now directly owns 137,281 shares in the company, valued at approximately $8,133,899.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John M. Perisich sold 4,391 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.33, for a total value 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 90 days. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Stock Performance

Shares of Primoris Services stock remained flat at $61.34 on Thursday. The stock had a trading volume of 279,748 shares, compared to its average volume of 552,018. Primoris Services Co. has a 12 month low of $28.96 and a 12 month high of $63.85. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 21.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. The business has a fifty day simple moving average of $56.78 and a two-hundred day simple moving average of $52.86.

Primoris Services (NASDAQ:PRIM - Get Free Report) last released its quarterly 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 quarter in the previous year, the business earned $0.80 earnings per share. The firm's revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Primoris Services Co. will post 3.33 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.06 per share. The ex-dividend date was Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. Primoris Services's payout ratio is presently 8.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Primoris Services from $69.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. began coverage on shares of Primoris Services in a report on Monday, October 7th. They issued an "overweight" rating and a $71.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

Primoris Services Company Profile

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.