Jackson Creek Investment Advisors LLC Trims Stake in Primoris Services Co. (NASDAQ:PRIM)

Jackson Creek Investment Advisors LLC lessened its stake in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 30.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,290 shares of the construction company's stock after selling 8,335 shares during the period. Jackson Creek Investment Advisors LLC's holdings in Primoris Services were worth $1,474,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its stake in shares of Primoris Services by 6.1% during the 4th quarter. QRG Capital Management Inc. now owns 80,979 shares of the construction company's stock worth $6,187,000 after acquiring an additional 4,623 shares during the period. Quest Partners LLC boosted its position in Primoris Services by 1,945.8% during the third quarter. Quest Partners LLC now owns 16,244 shares of the construction company's stock worth $943,000 after purchasing an additional 15,450 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Primoris Services by 12,845.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company's stock worth $1,711,000 after purchasing an additional 22,223 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Primoris Services by 40,543.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company's stock valued at $378,000 after buying an additional 6,487 shares in the last quarter. Finally, AMI Asset Management Corp boosted its holdings in Primoris Services by 50.0% in the 4th quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company's stock worth $1,456,000 after buying an additional 6,350 shares during the period. Institutional investors own 91.82% of the company's stock.

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Insider Transactions at Primoris Services

In other news, insider Jeremy Kinch sold 4,500 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $858,868.64. This represents a 26.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen C. Cook sold 998 shares of the business's stock in a transaction dated 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. The trade was a 11.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRIM. KeyCorp started coverage on shares of Primoris Services in a report on Wednesday, December 11th. They set an "overweight" rating and a $96.00 target price on the stock. DA Davidson reiterated a "buy" rating and set a $85.00 price objective on shares of Primoris Services in a research note on Tuesday, February 25th. Guggenheim began coverage on Primoris Services in a research note on Wednesday, January 8th. They issued a "buy" rating and a $102.00 target price for the company. UBS Group upped their price target on Primoris Services from $75.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $91.83.

Primoris Services Price Performance

Shares of NASDAQ PRIM traded down $3.28 during midday trading on Monday, hitting $60.15. 199,905 shares of the company's stock were exchanged, compared to its average volume of 875,039. 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 business's fifty day moving average price is $75.93 and its two-hundred day moving average price is $70.57. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 19.92 and a beta of 1.13. Primoris Services Co. has a 12-month low of $39.63 and a 12-month high of $90.86.

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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services's payout ratio is 9.64%.

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.