Atria Investments Inc Has $1.47 Million Stock Holdings in Primoris Services Co. (NASDAQ:PRIM)

Atria Investments Inc boosted its holdings in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,174 shares of the construction company's stock after purchasing an additional 4,230 shares during the quarter. Atria Investments Inc's holdings in Primoris Services were worth $1,465,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new position in Primoris Services during the 4th quarter valued at approximately $27,000. Millburn Ridgefield Corp bought a new stake in Primoris Services in the third quarter valued at $59,000. Principal Securities Inc. boosted its holdings in shares of Primoris Services by 63.2% during the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock valued at $68,000 after acquiring an additional 343 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Primoris Services by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company's stock valued at $69,000 after acquiring an additional 230 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Primoris Services during the fourth quarter worth about $97,000. Institutional investors own 91.82% of the company's stock.

Insiders Place Their Bets

In other news, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total value of $307,080.00. Following the transaction, the insider now owns 12,586 shares of the company's stock, valued at $858,868.64. The trade was a 26.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen C. Cook sold 998 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total transaction of $67,864.00. Following the completion of the sale, the director now owns 7,377 shares in the company, valued at $501,636. The trade was a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.40% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. UBS Group upped their target price on shares of Primoris Services from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their price objective on Primoris Services from $88.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. KeyCorp began coverage on Primoris Services in a research report on Wednesday, December 11th. They issued an "overweight" rating and a $96.00 target price on the stock. Guggenheim started coverage on Primoris Services in a research report on Wednesday, January 8th. They set a "buy" rating and a $102.00 price target for the company. Finally, Jefferies Financial Group began coverage on Primoris Services in a report on Tuesday. They set a "buy" rating and a $73.00 price target on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Primoris Services currently has a consensus rating of "Buy" and an average price target of $89.14.

Primoris Services Price Performance

PRIM traded up $1.82 during trading on Friday, reaching $67.14. The stock had a trading volume of 700,752 shares, compared to its average volume of 898,483. Primoris Services Co. has a 1-year low of $39.79 and a 1-year high of $90.86. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $74.91 and a two-hundred day moving average of $70.61. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 22.23 and a beta of 1.13.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services's payout ratio is currently 9.64%.

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.