EAM Investors LLC Buys 22,854 Shares of Primoris Services Co. (NASDAQ:PRIM)

EAM Investors LLC increased its position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 54.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,968 shares of the construction company's stock after buying an additional 22,854 shares during the quarter. EAM Investors LLC owned 0.12% of Primoris Services worth $4,964,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PRIM. Vanguard Group Inc. increased its position in shares of Primoris Services by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 6,244,920 shares of the construction company's stock worth $477,112,000 after purchasing an additional 82,261 shares during the last quarter. Invesco Ltd. lifted its stake in Primoris Services by 27.5% in the fourth quarter. Invesco Ltd. now owns 1,995,923 shares of the construction company's stock valued at $152,489,000 after acquiring an additional 430,589 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Primoris Services by 2,302.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,330,210 shares of the construction company's stock valued at $101,628,000 after acquiring an additional 1,274,839 shares during the period. Geode Capital Management LLC increased its stake in shares of Primoris Services by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,218,911 shares of the construction company's stock worth $70,810,000 after purchasing an additional 15,070 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Primoris Services by 97.4% in the 4th quarter. JPMorgan Chase & Co. now owns 772,591 shares of the construction company's stock valued at $59,026,000 after purchasing an additional 381,284 shares during the period. Institutional investors own 91.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Primoris Services in a research report on Tuesday, March 11th. They set a "buy" rating and a $73.00 price target on the stock. Guggenheim reaffirmed a "buy" rating and set a $110.00 price objective on shares of Primoris Services in a research report on Thursday, April 10th. DA Davidson reaffirmed a "buy" rating and set a $85.00 target price on shares of Primoris Services in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased their price target on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Piper Sandler assumed coverage on Primoris Services in a report on Tuesday, April 8th. They set an "overweight" rating and a $75.00 price objective for the company. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $84.75.

Primoris Services Stock Performance

Shares of NASDAQ:PRIM traded down $3.05 on Monday, reaching $53.40. 158,839 shares of the company's stock were exchanged, compared to its average volume of 717,963. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a twelve month low of $43.57 and a twelve month high of $90.86. The company has a fifty day moving average of $63.30 and a 200-day moving average of $71.47. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 17.68 and a beta of 1.17.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date was Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. Primoris Services's dividend payout ratio (DPR) is presently 9.64%.

Insider Buying and Selling at Primoris Services

In related 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 transaction, the director now directly owns 7,377 shares of the company's stock, valued at $501,636. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Thomas Edward Mccormick sold 61,390 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $64.10, for a total value of $3,935,099.00. Following the sale, the chief executive officer now 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 sold 66,888 shares of company stock valued at $4,310,043 in the last three months. Corporate insiders own 1.40% of the company's stock.

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.