Primoris Services Co. (NASDAQ:PRIM) Stake Boosted by Tieton Capital Management LLC

Tieton Capital Management LLC lifted its position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 21.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 74,020 shares of the construction company's stock after purchasing an additional 13,040 shares during the quarter. Primoris Services comprises approximately 2.3% of Tieton Capital Management LLC's holdings, making the stock its 23rd largest holding. Tieton Capital Management LLC owned approximately 0.14% of Primoris Services worth $5,655,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Primoris Services by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 6,244,920 shares of the construction company's stock worth $477,112,000 after buying an additional 82,261 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Primoris Services during the 4th quarter valued at $834,000. Sei Investments Co. boosted its position in Primoris Services by 71.2% during the 4th quarter. Sei Investments Co. now owns 51,573 shares of the construction company's stock worth $3,940,000 after purchasing an additional 21,443 shares during the period. Teacher Retirement System of Texas increased its holdings in Primoris Services by 20.8% in the 4th quarter. Teacher Retirement System of Texas now owns 39,560 shares of the construction company's stock valued at $3,022,000 after purchasing an additional 6,799 shares in the last quarter. Finally, West Tower Group LLC purchased a new position in Primoris Services in the fourth quarter valued at about $1,528,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

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Primoris Services Stock Down 0.5 %

Shares of NASDAQ:PRIM traded down $0.28 during midday trading on Friday, reaching $57.27. The company had a trading volume of 775,505 shares, compared to its average volume of 701,075. Primoris Services Co. has a one year low of $40.74 and a one year high of $90.86. 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 stock has a market capitalization of $3.08 billion, a P/E ratio of 18.96 and a beta of 1.13. The stock's fifty day moving average price is $71.07 and its 200-day moving average price is $71.38.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Primoris Services's dividend payout ratio (DPR) is presently 9.64%.

Insider Transactions at Primoris Services

In other Primoris Services news, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the transaction, the insider now owns 12,586 shares of the company's stock, valued at $858,868.64. The trade was a 26.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen C. Cook sold 998 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total transaction of $67,864.00. Following the sale, the director now directly owns 7,377 shares in the company, valued at $501,636. This trade represents a 11.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,888 shares of company stock valued at $4,310,043. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

PRIM has been the topic of several analyst reports. Guggenheim began 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. KeyCorp started coverage on shares of Primoris Services in a research report on Wednesday, December 11th. They issued an "overweight" rating and a $96.00 price objective for the company. JPMorgan Chase & Co. boosted 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. Jefferies Financial Group started coverage on shares of Primoris Services in a report on Tuesday, March 11th. They set a "buy" rating and a $73.00 price target for the company. Finally, DA Davidson reaffirmed a "buy" rating and set a $85.00 price target on shares of Primoris Services in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Primoris Services presently has an average rating of "Buy" and a consensus price target of $89.14.

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.