Bruni J V & Co. Co. lessened its stake in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 569,566 shares of the construction company's stock after selling 6,348 shares during the quarter. Primoris Services comprises 4.9% of Bruni J V & Co. Co.'s investment portfolio, making the stock its 8th biggest holding. Bruni J V & Co. Co. owned about 1.06% of Primoris Services worth $43,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Primoris Services in the 4th quarter worth approximately $27,000. Nisa Investment Advisors LLC raised its holdings in Primoris Services by 414.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company's stock valued at $42,000 after acquiring an additional 584 shares during the period. Blue Trust Inc. lifted its position in shares of Primoris Services by 27.3% during the third quarter. Blue Trust Inc. now owns 919 shares of the construction company's stock worth $53,000 after acquiring an additional 197 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Primoris Services in the third quarter worth $59,000. Finally, Principal Securities Inc. grew its position in shares of Primoris Services by 63.2% in the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock valued at $68,000 after purchasing an additional 343 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. DA Davidson reissued a "buy" rating and set a $85.00 price objective 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 stock an "overweight" rating in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their price objective on shares of Primoris Services from $51.00 to $78.00 and gave the company a "neutral" rating in a research note on Wednesday, November 6th. Guggenheim began coverage on shares of Primoris Services in a report on Wednesday, January 8th. They set a "buy" rating and a $102.00 target price on the stock. Finally, UBS Group raised their price target on shares of Primoris Services from $75.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, November 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $91.83.
Check Out Our Latest Stock Report on Primoris Services
Primoris Services Stock Down 2.0 %
PRIM traded down $1.39 during trading on Tuesday, reaching $67.46. The stock had a trading volume of 600,941 shares, compared to its average volume of 870,875. Primoris Services Co. has a one year low of $38.38 and a one year high of $90.86. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 22.37 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock's 50 day moving average is $77.08 and its two-hundred day moving average is $70.23.
Primoris Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.47%. Primoris Services's payout ratio is presently 9.64%.
Primoris Services Profile
(
Free Report)
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.
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