Primoris Services Co. (NASDAQ:PRIM) Shares Acquired by Tieton Capital Management LLC

Tieton Capital Management LLC boosted its stake 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 Securities and Exchange Commission. The firm owned 74,020 shares of the construction company's stock after acquiring an additional 13,040 shares during the quarter. Primoris Services comprises 2.3% of Tieton Capital Management LLC's investment portfolio, making the stock its 23rd biggest holding. Tieton Capital Management LLC owned 0.14% of Primoris Services worth $5,655,000 as of its most recent filing with the Securities and Exchange Commission.

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

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Insider Buying and Selling

In other Primoris Services news, Director Stephen C. Cook sold 998 shares of the company's stock in a transaction that occurred on 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 owns 7,377 shares in the company, valued at $501,636. This represents a 11.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy Kinch sold 4,500 shares of the business's stock in a transaction 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 transaction, the insider now directly owns 12,586 shares in the company, valued at approximately $858,868.64. The trade was a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,888 shares of company stock valued at $4,310,043. Company insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

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

Primoris Services Trading Down 1.1 %

Shares of Primoris Services stock traded down $0.74 during trading hours on Tuesday, reaching $64.89. The stock had a trading volume of 514,318 shares, compared to its average volume of 659,916. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 1 year low of $40.74 and a 1 year high of $90.86. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 21.49 and a beta of 1.13. The firm has a 50 day simple moving average of $72.62 and a two-hundred day simple moving average of $71.49.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.49%. 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.