1,273 Shares in Primoris Services Co. (NASDAQ:PRIM) Acquired by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC acquired a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,273 shares of the construction company’s stock, valued at approximately $97,000.

Other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in shares of Primoris Services by 6.1% in the fourth quarter. QRG Capital Management Inc. now owns 80,979 shares of the construction company’s stock valued at $6,187,000 after buying an additional 4,623 shares during the period. Quest Partners LLC raised its position in Primoris Services by 1,945.8% during the third quarter. Quest Partners LLC now owns 16,244 shares of the construction company’s stock worth $943,000 after acquiring an additional 15,450 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Primoris Services by 12,845.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company’s stock worth $1,711,000 after acquiring an additional 22,223 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Primoris Services by 40,543.8% in the third quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company’s stock valued at $378,000 after purchasing an additional 6,487 shares during the period. Finally, AMI Asset Management Corp raised its position in shares of Primoris Services by 50.0% in the fourth quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 6,350 shares during the period. Institutional investors and hedge funds own 91.82% of the company’s stock.

Analyst Ratings Changes

PRIM has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on shares of Primoris Services from $88.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group began coverage on shares of Primoris Services in a report on Tuesday, March 11th. They issued a “buy” rating and a $73.00 price objective for the company. DA Davidson restated a “buy” rating and set a $85.00 price target on shares of Primoris Services in a report on Tuesday, February 25th. KeyCorp started coverage on shares of Primoris Services in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 price objective for the company. Finally, Guggenheim began coverage on shares of Primoris Services in a research report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price target for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $89.14.

Primoris Services Price Performance

PRIM opened at $64.50 on Tuesday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 21.36 and a beta of 1.13. Primoris Services Co. has a 1 year low of $39.79 and a 1 year high of $90.86. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day moving average price is $74.35 and its two-hundred day moving average price is $70.97.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services’s payout ratio is 9.64%.

Insider Transactions at Primoris Services

In other news, insider Jeremy Kinch sold 4,500 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total transaction of $307,080.00. Following the completion of the transaction, the insider now owns 12,586 shares of the company’s stock, valued at approximately $858,868.64. The trade was a 26.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen C. Cook sold 998 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total value of $67,864.00. Following the transaction, the director now directly owns 7,377 shares of the company’s stock, valued at $501,636. The trade was a 11.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

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.