Los Angeles Capital Management LLC Has $2.63 Million Position in Primoris Services Co. (NASDAQ:PRIM)

Los Angeles Capital Management LLC lifted its holdings in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 779.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,469 shares of the construction company's stock after buying an additional 30,550 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of Primoris Services worth $2,633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Primoris Services by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,218,911 shares of the construction company's stock valued at $70,810,000 after purchasing an additional 15,070 shares during the period. Summit Partners Public Asset Management LLC lifted its stake in shares of Primoris Services by 80.6% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 839,853 shares of the construction company's stock worth $48,779,000 after acquiring an additional 374,926 shares during the period. Yaupon Capital Management LP boosted its holdings in shares of Primoris Services by 28.4% in the third quarter. Yaupon Capital Management LP now owns 699,817 shares of the construction company's stock valued at $40,645,000 after acquiring an additional 154,627 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Primoris Services during the fourth quarter valued at approximately $48,851,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Primoris Services by 17.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 607,010 shares of the construction company's stock worth $35,255,000 after purchasing an additional 91,235 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

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Primoris Services Trading Down 4.3 %

Shares of PRIM stock traded down $3.12 during trading hours on Monday, reaching $68.62. 1,535,708 shares of the stock traded hands, compared to its average volume of 879,470. 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 firm has a market capitalization of $3.69 billion, a PE ratio of 22.72 and a beta of 1.14. Primoris Services Co. has a 1-year low of $38.38 and a 1-year high of $90.86. The business has a fifty day moving average price of $77.31 and a 200 day moving average price of $70.13.

Primoris Services Dividend Announcement

The firm 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 0.47%. Primoris Services's payout ratio is currently 9.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. KeyCorp began coverage on Primoris Services in a research note on Wednesday, December 11th. They set an "overweight" rating and a $96.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Primoris Services from $51.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. DA Davidson reiterated a "buy" rating and issued a $85.00 target price on shares of Primoris Services in a report on Tuesday, February 25th. JPMorgan Chase & Co. increased their target price on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, UBS Group lifted their price target on shares of Primoris Services from $75.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target 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.