Boston Partners Buys 21,409 Shares of Primoris Services Co. (NASDAQ:PRIM)

Boston Partners increased its holdings in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,702 shares of the construction company's stock after purchasing an additional 21,409 shares during the period. Boston Partners owned approximately 0.92% of Primoris Services worth $39,204,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. QRG Capital Management Inc. increased its holdings in shares of Primoris Services by 6.1% during the 4th quarter. QRG Capital Management Inc. now owns 80,979 shares of the construction company's stock valued at $6,187,000 after acquiring an additional 4,623 shares during the last quarter. Quest Partners LLC boosted 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 purchasing an additional 15,450 shares during the period. Harbor Capital Advisors Inc. grew its holdings 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 valued at $1,711,000 after purchasing an additional 22,223 shares during 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 lifted its stake 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 worth $1,456,000 after buying an additional 6,350 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

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Primoris Services Stock Performance

PRIM traded up $2.01 during trading on Monday, reaching $65.63. 770,949 shares of the company's stock were exchanged, compared to its average volume of 659,790. Primoris Services Co. has a fifty-two week low of $40.66 and a fifty-two week high of $90.86. The company has a market capitalization of $3.53 billion, a P/E ratio of 21.73 and a beta of 1.13. 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 business has a 50 day moving average price of $73.22 and a 200 day moving average price of $71.26.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. Primoris Services's payout ratio is presently 9.64%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PRIM. 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 target price on the stock. JPMorgan Chase & Co. raised their price target on Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. DA Davidson restated a "buy" rating and set a $85.00 target price on shares of Primoris Services in a research note on Tuesday, February 25th. Guggenheim initiated coverage on Primoris Services in a research report on Wednesday, January 8th. They issued a "buy" rating and a $102.00 price target on the stock. Finally, Jefferies Financial Group began coverage on Primoris Services in a research report on Tuesday, March 11th. They issued a "buy" rating and a $73.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $89.14.

Insider Buying and Selling

In other news, Director Stephen C. Cook sold 998 shares of Primoris Services stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $68.00, for a total value of $67,864.00. Following the completion of the transaction, the director now owns 7,377 shares in the company, valued at approximately $501,636. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeremy Kinch sold 4,500 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the transaction, the insider now directly owns 12,586 shares in the company, valued at $858,868.64. The trade was a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,888 shares of company stock worth $4,310,043 in the last 90 days. 1.40% of the stock is owned by company insiders.

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.