Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. reduced its holdings in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 12.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 51,977 shares of the construction company's stock after selling 7,168 shares during the period. Hantz Financial Services Inc. owned approximately 0.10% of Primoris Services worth $3,019,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Primoris Services by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 69,334 shares of the construction company's stock valued at $2,953,000 after buying an additional 2,391 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Primoris Services by 185.7% in the 1st quarter. Janus Henderson Group PLC now owns 64,795 shares of the construction company's stock valued at $2,758,000 after buying an additional 42,112 shares during the period. Jane Street Group LLC boosted its stake in shares of Primoris Services by 384.8% in the first quarter. Jane Street Group LLC now owns 115,803 shares of the construction company's stock valued at $4,930,000 after buying an additional 91,915 shares in the last quarter. Tidal Investments LLC grew its holdings in Primoris Services by 240.0% during the first quarter. Tidal Investments LLC now owns 28,560 shares of the construction company's stock worth $1,216,000 after acquiring an additional 20,160 shares during the period. Finally, CWM LLC raised its position in Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company's stock worth $55,000 after acquiring an additional 220 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PRIM shares. UBS Group upped 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. DA Davidson boosted their price target on Primoris Services from $60.00 to $85.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. started coverage on Primoris Services in a report on Monday, October 7th. They issued an "overweight" rating and a $71.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on Primoris Services from $51.00 to $78.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Primoris Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.50.

Primoris Services Price Performance

Primoris Services stock traded up $0.54 during mid-day trading on Friday, hitting $83.71. 253,074 shares of the company were exchanged, compared to its average volume of 824,558. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. Primoris Services Co. has a 12-month low of $29.14 and a 12-month high of $84.97. The business's 50 day simple moving average is $68.40 and its two-hundred day simple moving average is $58.36. The company has a market capitalization of $4.50 billion, a P/E ratio of 27.72 and a beta of 1.05.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The construction company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.20. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Primoris Services Co. will post 3.45 earnings per share for the current fiscal year.

Primoris Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This is a positive change from Primoris Services's previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, December 31st. Primoris Services's dividend payout ratio is presently 7.95%.

Insider Buying and Selling

In related news, CEO Thomas Edward Mccormick sold 15,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $81.28, for a total value of $1,219,200.00. Following the transaction, the chief executive officer now directly owns 61,390 shares of the company's stock, valued at approximately $4,989,779.20. This trade represents a 19.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 25,000 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value of $1,351,250.00. Following the sale, the director now directly owns 162,281 shares of the company's stock, valued at approximately $8,771,288.05. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,409 shares of company stock worth $4,762,468. 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.