Dana Investment Advisors Inc. Lowers Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Dana Investment Advisors Inc. decreased its stake in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 17.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 173,452 shares of the construction company's stock after selling 37,227 shares during the period. Dana Investment Advisors Inc. owned 0.32% of Primoris Services worth $13,252,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PRIM. USA Financial Formulas purchased a new stake in shares of Primoris Services in the fourth quarter worth about $27,000. Nisa Investment Advisors LLC increased its holdings in Primoris Services by 414.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company's stock worth $42,000 after acquiring an additional 584 shares during the period. Millburn Ridgefield Corp purchased a new stake in Primoris Services in the 3rd quarter worth approximately $59,000. Principal Securities Inc. boosted its holdings 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 purchasing an additional 343 shares during the period. Finally, TD Private Client Wealth LLC grew its position in shares of Primoris Services by 24.2% during the 3rd 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 in the last quarter. Institutional investors own 91.82% of the company's stock.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, insider Jeremy Kinch sold 4,500 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $858,868.64. The trade was a 26.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen C. Cook sold 998 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total transaction of $67,864.00. Following the sale, the director now owns 7,377 shares of the company's stock, valued at approximately $501,636. This represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company's stock.

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Primoris Services Price Performance

NASDAQ:PRIM traded down $0.16 during mid-day trading on Friday, reaching $63.40. The stock had a trading volume of 998,401 shares, compared to its average volume of 891,693. Primoris Services Co. has a one year low of $39.63 and a one year high of $90.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a 50 day moving average price of $75.93 and a two-hundred day moving average price of $70.44. The stock has a market capitalization of $3.41 billion, a P/E ratio of 20.99 and a beta of 1.13.

Primoris Services Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.50%. Primoris Services's dividend payout ratio is currently 9.64%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PRIM. 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 on the stock. JPMorgan Chase & Co. lifted 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 issued a $85.00 price objective on shares of Primoris Services in a research 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 target price on the stock. Finally, UBS Group boosted their price target on shares of Primoris Services from $75.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $91.83.

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.