Cwm LLC Raises Holdings in Primoris Services Co. (NASDAQ:PRIM)

Cwm LLC increased its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 37.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,506 shares of the construction company’s stock after purchasing an additional 411 shares during the quarter. Cwm LLC’s holdings in Primoris Services were worth $87,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PRIM. Marshall Wace LLP purchased a new stake in shares of Primoris Services during the second quarter worth approximately $28,089,000. Victory Capital Management Inc. increased its position in shares of Primoris Services by 837.3% during the second quarter. Victory Capital Management Inc. now owns 366,516 shares of the construction company’s stock worth $18,285,000 after purchasing an additional 327,412 shares in the last quarter. Decade Renewable Partners LP purchased a new stake in shares of Primoris Services during the second quarter worth approximately $9,584,000. Renaissance Technologies LLC purchased a new stake in shares of Primoris Services during the second quarter worth approximately $6,366,000. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Primoris Services during the second quarter worth approximately $5,489,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRIM has been the topic of a number of recent research reports. UBS Group boosted their price objective on Primoris Services from $69.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on Primoris Services in a research note on Monday, October 7th. They set an “overweight” rating and a $71.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Primoris Services presently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Primoris Services Price Performance

Shares of NASDAQ PRIM opened at $61.03 on Friday. The stock’s 50-day moving average is $57.07 and its two-hundred day moving average is $53.07. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.41 and a quick ratio of 1.41. Primoris Services Co. has a 1-year low of $28.96 and a 1-year high of $63.85. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 21.49 and a beta of 1.07.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.39. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts forecast that Primoris Services Co. will post 3.33 EPS for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, September 27th. Primoris Services’s payout ratio is currently 8.45%.

Insiders Place Their Bets

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the firm’s 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 transaction, the director now owns 137,281 shares of the company’s stock, 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 filing with the SEC, which is accessible through this link. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 137,281 shares in the company, valued at $8,133,899.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John M. Perisich sold 4,391 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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. Over the last 90 days, insiders sold 54,391 shares of company stock valued at $3,075,454. Corporate insiders own 1.40% of the company’s stock.

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.