Alberta Investment Management Corp boosted its stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,365 shares of the construction company's stock after buying an additional 12,475 shares during the quarter. Alberta Investment Management Corp owned approximately 0.13% of Primoris Services worth $5,376,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Quest Partners LLC boosted its stake in Primoris Services by 1,945.8% in the 3rd quarter. Quest Partners LLC now owns 16,244 shares of the construction company's stock valued at $943,000 after buying an additional 15,450 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Primoris Services by 12,845.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company's stock valued at $1,711,000 after purchasing an additional 22,223 shares during the last quarter. Benjamin Edwards Inc. raised its position in Primoris Services by 40,543.8% in the 3rd 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 last quarter. AMI Asset Management Corp raised its position in Primoris Services by 50.0% in the 4th 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 last quarter. Finally, Ausbil Investment Management Ltd raised its position in Primoris Services by 31.8% in the 3rd quarter. Ausbil Investment Management Ltd now owns 58,223 shares of the construction company's stock valued at $3,382,000 after purchasing an additional 14,033 shares during the last quarter. Institutional investors and hedge funds own 91.82% of the company's stock.
Primoris Services Trading Down 3.2 %
Shares of PRIM stock traded down $2.17 on Friday, reaching $65.63. 485,008 shares of the stock were exchanged, compared to its average volume of 741,781. The stock has a market cap of $3.53 billion, a PE ratio of 21.78 and a beta of 1.14. Primoris Services Co. has a one year low of $37.00 and a one 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 stock has a 50 day moving average price of $78.58 and a 200 day moving average price of $69.12.
Insider Transactions at Primoris Services
In related news, Director David Lee King sold 2,000 shares of Primoris Services stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $83.98, for a total transaction of $167,960.00. Following the completion of the sale, the director now directly owns 23,818 shares of the company's stock, valued at $2,000,235.64. The trade was a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on PRIM. UBS Group lifted their price objective on Primoris Services from $75.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. The Goldman Sachs Group lifted their price objective on Primoris Services from $51.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on Primoris Services from $77.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Guggenheim began coverage on Primoris Services in a research report on Wednesday, January 8th. They issued a "buy" rating and a $102.00 price objective for the company. Finally, KeyCorp assumed coverage on Primoris Services in a research report on Wednesday, December 11th. They issued an "overweight" rating and a $96.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $91.50.
View Our Latest Report on PRIM
Primoris Services Company Profile
(
Free Report)
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.
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