Teacher Retirement System of Texas Has $3.02 Million Holdings in Primoris Services Co. (NASDAQ:PRIM)

Teacher Retirement System of Texas increased its position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,560 shares of the construction company's stock after purchasing an additional 6,799 shares during the period. Teacher Retirement System of Texas owned about 0.07% of Primoris Services worth $3,022,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRIM. QRG Capital Management Inc. raised its holdings in shares of Primoris Services by 6.1% in the 4th quarter. QRG Capital Management Inc. now owns 80,979 shares of the construction company's stock worth $6,187,000 after buying an additional 4,623 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in 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 valued at $1,711,000 after acquiring an additional 22,223 shares during the period. Benjamin Edwards Inc. raised its stake in Primoris Services by 40,543.8% during the third quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company's stock worth $378,000 after acquiring an additional 6,487 shares in the last quarter. AMI Asset Management Corp lifted its holdings in shares of Primoris Services by 50.0% during the fourth quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company's stock valued at $1,456,000 after acquiring an additional 6,350 shares during the period. Finally, Congress Asset Management Co. acquired a new stake in shares of Primoris Services in the 4th quarter valued at $48,851,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Primoris Services

In other Primoris Services news, Director Stephen C. Cook sold 998 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total transaction of $67,864.00. Following the transaction, the director now owns 7,377 shares in the company, valued at approximately $501,636. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeremy Kinch sold 4,500 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total value of $307,080.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 66,888 shares of company stock worth $4,310,043 in the last quarter. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PRIM. KeyCorp initiated coverage on shares of Primoris Services in a research report on Wednesday, December 11th. They set an "overweight" rating and a $96.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Jefferies Financial Group assumed coverage on Primoris Services in a research report on Tuesday, March 11th. They set a "buy" rating and a $73.00 price target on the stock. DA Davidson reiterated a "buy" rating and issued a $85.00 price objective on shares of Primoris Services in a research report on Tuesday, February 25th. Finally, Guggenheim assumed coverage on Primoris Services in a report on Wednesday, January 8th. They set a "buy" rating and a $102.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Primoris Services has a consensus rating of "Buy" and an average target price of $89.14.

Primoris Services Trading Down 0.5 %

PRIM traded down $0.28 during mid-day trading on Friday, reaching $57.27. The stock had a trading volume of 775,505 shares, compared to its average volume of 701,075. The firm's fifty day simple moving average is $71.07 and its two-hundred day simple moving average is $71.53. The stock has a market capitalization of $3.08 billion, a P/E ratio of 18.96 and a beta of 1.13. Primoris Services Co. has a 52 week low of $40.74 and a 52 week high of $90.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.56%. Primoris Services's dividend payout ratio is currently 9.64%.

About Primoris Services

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.