Primoris Services Co. (NASDAQ:PRIM) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP lifted its holdings in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,327 shares of the construction company's stock after purchasing an additional 17,150 shares during the period. Marshall Wace LLP owned about 0.61% of Primoris Services worth $25,084,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas purchased a new stake in shares of Primoris Services in the 4th quarter valued at about $27,000. Farther Finance Advisors LLC increased its stake in shares of Primoris Services by 3,552.4% in the fourth quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company's stock worth $59,000 after buying an additional 746 shares during the period. Principal Securities Inc. raised its stake in shares of Primoris Services by 63.2% during the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock valued at $68,000 after acquiring an additional 343 shares during the last quarter. Covestor Ltd lifted its holdings in Primoris Services by 4,550.0% in the 4th quarter. Covestor Ltd now owns 930 shares of the construction company's stock worth $71,000 after buying an additional 910 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new stake in Primoris Services in the fourth quarter valued at $97,000. Institutional investors own 91.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRIM. KeyCorp dropped their price objective on shares of Primoris Services from $90.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price target on shares of Primoris Services from $88.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. DA Davidson reissued a "buy" rating and issued a $85.00 target price on shares of Primoris Services in a report on Tuesday, February 25th. Jefferies Financial Group began coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They set a "buy" rating and a $73.00 price objective for the company. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 target price on shares of Primoris Services in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Primoris Services currently has a consensus rating of "Buy" and a consensus target price of $84.75.

Primoris Services Price Performance

Shares of NASDAQ:PRIM traded up $1.21 during trading on Friday, hitting $60.65. 175,256 shares of the company's stock were exchanged, compared to its average volume of 907,193. 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 52-week low of $45.37 and a 52-week high of $90.86. The business's 50-day simple moving average is $61.90 and its 200 day simple moving average is $71.22. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 20.08 and a beta of 1.17.

Primoris Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. Primoris Services's dividend payout ratio (DPR) is 9.64%.

Insider Activity at Primoris Services

In other Primoris Services news, Director Stephen C. Cook sold 998 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $68.00, for a total transaction of $67,864.00. Following the completion of the transaction, the director now owns 7,377 shares in the company, valued at $501,636. This trade represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeremy Kinch sold 4,500 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total transaction of $307,080.00. Following the completion of the sale, the insider now owns 12,586 shares in the company, valued at approximately $858,868.64. This trade represents a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,888 shares of company stock valued at $4,310,043. Insiders own 0.90% of the company's stock.

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.