20,375 Shares in Primoris Services Co. (NASDAQ:PRIM) Purchased by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,375 shares of the construction company's stock, valued at approximately $1,557,000.

A number of other institutional investors also recently modified their holdings of the stock. USA Financial Formulas acquired a new stake in Primoris Services in the 4th quarter valued at $27,000. Farther Finance Advisors LLC boosted its stake in Primoris Services by 3,552.4% during the 4th quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company's stock valued at $59,000 after purchasing an additional 746 shares during the last quarter. Principal Securities Inc. raised its position in Primoris Services by 63.2% in the 4th quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock valued at $68,000 after buying an additional 343 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Primoris Services by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company's stock valued at $69,000 after purchasing an additional 230 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in Primoris Services during the fourth quarter worth about $97,000. Institutional investors and hedge funds own 91.82% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler began coverage on shares of Primoris Services in a report on Tuesday, April 8th. They issued an "overweight" rating and a $75.00 price target on the stock. Guggenheim restated a "buy" rating and issued a $110.00 target price on shares of Primoris Services in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group initiated coverage on shares of Primoris Services in a report on Tuesday, March 11th. They issued a "buy" rating and a $73.00 price target on the stock. Finally, DA Davidson restated a "buy" rating and issued a $85.00 target price on shares of Primoris Services in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $88.38.

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Primoris Services Trading Up 1.2 %

PRIM stock traded up $0.70 during trading on Monday, reaching $57.93. The company had a trading volume of 578,216 shares, compared to its average volume of 715,719. The company has a market cap of $3.12 billion, a P/E ratio of 19.18 and a beta of 1.17. 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 business has a 50 day moving average of $65.05 and a 200 day moving average of $71.49. Primoris Services Co. has a 52 week low of $42.82 and a 52 week high of $90.86.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Primoris Services's dividend payout ratio (DPR) is currently 9.64%.

Insider Transactions at Primoris Services

In other news, insider Jeremy Kinch sold 4,500 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total transaction of $307,080.00. Following the transaction, the insider now directly owns 12,586 shares of the company's stock, valued at $858,868.64. This represents a 26.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Thomas Edward Mccormick sold 61,390 shares of the business's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the transaction, the chief executive officer now directly owns 46,796 shares of the company's stock, valued at $2,999,623.60. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,888 shares of company stock valued at $4,310,043 in the last ninety days. 1.40% of the stock is currently owned by corporate 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.