Hantz Financial Services Inc. Cuts Holdings in Primoris Services Co. (NASDAQ:PRIM)

Hantz Financial Services Inc. decreased its holdings in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 52.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,940 shares of the construction company's stock after selling 27,037 shares during the quarter. Hantz Financial Services Inc.'s holdings in Primoris Services were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PRIM. Quest Partners LLC increased its holdings in Primoris Services by 1,945.8% during the 3rd quarter. Quest Partners LLC now owns 16,244 shares of the construction company's stock worth $943,000 after acquiring an additional 15,450 shares during the period. Harbor Capital Advisors Inc. boosted its stake 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 buying an additional 22,223 shares during the period. Benjamin Edwards Inc. grew its position in Primoris Services by 40,543.8% during the third quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company's stock worth $378,000 after buying an additional 6,487 shares in the last quarter. AMI Asset Management Corp increased its stake in Primoris Services by 50.0% in the 4th quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company's stock worth $1,456,000 after acquiring an additional 6,350 shares during the last quarter. Finally, Ausbil Investment Management Ltd raised its holdings in shares of Primoris Services by 31.8% in the 3rd quarter. Ausbil Investment Management Ltd now owns 58,223 shares of the construction company's stock valued at $3,382,000 after acquiring an additional 14,033 shares in the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services Stock Down 1.7 %

PRIM traded down $1.32 on Monday, hitting $75.45. The company had a trading volume of 332,110 shares, compared to its average volume of 705,016. The firm has a market capitalization of $4.05 billion, a P/E ratio of 24.85 and a beta of 1.14. The stock has a fifty day simple moving average of $80.63 and a 200-day simple moving average of $67.30. Primoris Services Co. has a 52-week low of $33.40 and a 52-week high of $90.86. 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 (NASDAQ:PRIM - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. Primoris Services's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Primoris Services Co. will post 3.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other Primoris Services news, Director Stephen C. Cook sold 4,018 shares of the firm's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $78.53, for a total value of $315,533.54. Following the transaction, the director now directly owns 7,908 shares of the company's stock, valued at approximately $621,015.24. This trade represents a 33.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Lee King sold 2,000 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $83.98, for a total transaction of $167,960.00. Following the sale, the director now directly owns 23,818 shares of the company's stock, valued at approximately $2,000,235.64. This represents a 7.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,018 shares of company stock valued at $1,854,974. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PRIM shares. DA Davidson raised their target price on shares of Primoris Services from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on Primoris Services from $77.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. UBS Group boosted their price objective on shares of Primoris Services from $75.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. KeyCorp initiated coverage on Primoris Services in a research note on Wednesday, December 11th. They issued an "overweight" rating and a $96.00 target price for the company. Finally, The Goldman Sachs Group boosted their price objective on Primoris Services from $51.00 to $78.00 and gave the company a "neutral" rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $91.50.

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.