Primoris Services Co. (NASDAQ:PRIM) Shares Bought by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. increased its position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,900 shares of the construction company's stock after acquiring an additional 33,000 shares during the period. Oberweis Asset Management Inc. owned about 0.45% of Primoris Services worth $18,558,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. USA Financial Formulas acquired a new stake in shares of Primoris Services during the 4th quarter worth about $27,000. Farther Finance Advisors LLC boosted its position in shares of Primoris Services by 3,552.4% during the 4th quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company's stock worth $59,000 after purchasing an additional 746 shares in the last quarter. Principal Securities Inc. lifted its position in shares of Primoris Services by 63.2% during the 4th 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 period. Covestor Ltd grew its holdings in Primoris Services by 4,550.0% in the fourth quarter. Covestor Ltd now owns 930 shares of the construction company's stock valued at $71,000 after purchasing an additional 910 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in Primoris Services during the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

Primoris Services Trading Up 4.1 %

Shares of NASDAQ PRIM opened at $57.73 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 19.11 and a beta of 1.17. Primoris Services Co. has a 52 week low of $44.20 and a 52 week high of $90.86. The business has a 50 day simple moving average of $62.18 and a 200 day simple moving average of $71.23.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, March 31st. Primoris Services's dividend payout ratio (DPR) is presently 9.64%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Primoris Services from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Primoris Services in a research note on Thursday, April 10th. Piper Sandler assumed coverage on Primoris Services in a report on Tuesday, April 8th. They set an "overweight" rating and a $75.00 target price on the stock. KeyCorp lowered their price objective on shares of Primoris Services from $90.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group started coverage on shares of Primoris Services in a research note on Tuesday, March 11th. They issued a "buy" rating and a $73.00 target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Primoris Services presently has an average rating of "Buy" and an average target price of $84.75.

Insiders Place Their Bets

In related news, Director Stephen C. Cook sold 998 shares of Primoris Services stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total value of $67,864.00. Following the completion of the transaction, the director now directly owns 7,377 shares of the company's stock, valued at $501,636. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Edward Mccormick sold 61,390 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the transaction, the chief executive officer now owns 46,796 shares in the company, valued at $2,999,623.60. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock worth $4,310,043 in the last ninety days. Insiders own 0.90% of the company's stock.

Primoris Services Company 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.

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