BNP Paribas Financial Markets Purchases 208,920 Shares of Primoris Services Co. (NASDAQ:PRIM)

BNP Paribas Financial Markets grew its position in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 549.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,949 shares of the construction company's stock after purchasing an additional 208,920 shares during the period. BNP Paribas Financial Markets owned about 0.46% of Primoris Services worth $14,343,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in 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 purchasing an additional 42,112 shares during the period. Quest Partners LLC boosted its holdings in shares of Primoris Services by 1,945.8% in the 3rd quarter. Quest Partners LLC now owns 16,244 shares of the construction company's stock worth $943,000 after buying an additional 15,450 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Primoris Services by 74.6% during the second quarter. Canada Pension Plan Investment Board now owns 54,286 shares of the construction company's stock valued at $2,708,000 after buying an additional 23,200 shares during the period. Jane Street Group LLC increased its holdings in Primoris Services by 384.8% during the first quarter. Jane Street Group LLC now owns 115,803 shares of the construction company's stock worth $4,930,000 after buying an additional 91,915 shares during the last quarter. Finally, Morse Asset Management Inc raised its position in Primoris Services by 112.9% in the second quarter. Morse Asset Management Inc now owns 17,455 shares of the construction company's stock worth $871,000 after acquiring an additional 9,255 shares during the period. 91.82% of the stock is owned by institutional investors.

Insider Transactions at Primoris Services

In other Primoris Services news, Director Stephen C. Cook sold 4,018 shares of Primoris Services stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $78.53, for a total transaction of $315,533.54. Following the completion of the sale, the director now directly owns 7,908 shares in the company, valued at $621,015.24. The trade was a 33.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David Lee King sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $76.14, for a total transaction of $152,280.00. Following the completion of the transaction, the director now directly owns 25,818 shares in the company, valued at $1,965,782.52. The trade was a 7.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,409 shares of company stock valued at $4,762,468. 1.40% of the stock is currently owned by company insiders.

Primoris Services Stock Performance

Shares of Primoris Services stock traded down $0.45 during trading hours on Monday, reaching $83.26. The company had a trading volume of 445,274 shares, compared to its average volume of 581,335. The firm has a market cap of $4.47 billion, a PE ratio of 27.72 and a beta of 1.05. Primoris Services Co. has a one year low of $30.88 and a one year high of $84.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The business has a fifty day simple moving average of $68.40 and a 200 day simple moving average of $58.41.

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

Primoris Services Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PRIM. JPMorgan Chase & Co. began coverage on shares of Primoris Services in a research report on Monday, October 7th. They set an "overweight" rating and a $71.00 target price for the company. The Goldman Sachs Group increased their price objective on Primoris Services from $51.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. DA Davidson boosted their target price on Primoris Services from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, UBS Group increased their price target on Primoris Services from $75.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.50.

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.