Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Tieton Capital Management LLC

Tieton Capital Management LLC reduced its stake in Primoris Services Co. (NASDAQ:PRIM) by 32.1% during the 2nd quarter, Holdings Channel reports. The fund owned 130,445 shares of the construction company’s stock after selling 61,765 shares during the quarter. Primoris Services makes up approximately 3.6% of Tieton Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Tieton Capital Management LLC’s holdings in Primoris Services were worth $6,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of Primoris Services by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company’s stock valued at $119,410,000 after buying an additional 109,481 shares during the last quarter. Schroder Investment Management Group increased its position in Primoris Services by 4.4% during the fourth quarter. Schroder Investment Management Group now owns 1,005,360 shares of the construction company’s stock worth $33,388,000 after buying an additional 41,983 shares during the period. LSV Asset Management lifted its stake in Primoris Services by 9.9% in the first quarter. LSV Asset Management now owns 582,842 shares of the construction company’s stock valued at $24,812,000 after buying an additional 52,274 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Primoris Services by 64.9% in the fourth quarter. Verition Fund Management LLC now owns 578,845 shares of the construction company’s stock valued at $19,223,000 after acquiring an additional 227,916 shares during the period. Finally, Boston Partners grew its position in shares of Primoris Services by 5.7% during the first quarter. Boston Partners now owns 537,293 shares of the construction company’s stock worth $23,332,000 after acquiring an additional 28,997 shares during the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $54.76 on Tuesday. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 20.66 and a beta of 1.07. The firm’s fifty day simple moving average is $52.88 and its 200-day simple moving average is $49.36. 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 12 month low of $28.96 and a 12 month high of $57.72.

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

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.44%. Primoris Services’s dividend payout ratio (DPR) is presently 9.06%.

Insiders Place Their Bets

In other news, insider John M. Perisich sold 4,391 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 162,281 shares of the company’s stock, valued at approximately $8,771,288.05. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Primoris Services 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.