Yorktown Management & Research Co Inc Purchases Shares of 4,100 Primoris Services Co. (NASDAQ:PRIM)

Yorktown Management & Research Co Inc bought a new position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,100 shares of the construction company's stock, valued at approximately $313,000.

Other hedge funds have also added to or reduced their stakes in the company. Summit Partners Public Asset Management LLC boosted its stake in shares of Primoris Services by 80.6% in the third quarter. Summit Partners Public Asset Management LLC now owns 839,853 shares of the construction company's stock valued at $48,779,000 after buying an additional 374,926 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Primoris Services by 549.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 246,949 shares of the construction company's stock valued at $14,343,000 after acquiring an additional 208,920 shares during the period. Yaupon Capital Management LP grew its holdings in shares of Primoris Services by 28.4% during the 3rd quarter. Yaupon Capital Management LP now owns 699,817 shares of the construction company's stock worth $40,645,000 after purchasing an additional 154,627 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Primoris Services by 17.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 607,010 shares of the construction company's stock worth $35,255,000 after purchasing an additional 91,235 shares during the period. Finally, Peregrine Asset Advisers Inc. acquired a new position in Primoris Services in the third quarter valued at about $5,107,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Primoris Services

In other news, CEO Thomas Edward Mccormick sold 15,000 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $81.28, for a total value of $1,219,200.00. Following the sale, the chief executive officer now directly owns 61,390 shares of the company's stock, valued at approximately $4,989,779.20. This represents a 19.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Lee King sold 2,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $83.98, for a total transaction of $167,960.00. Following the completion of the transaction, the director now owns 23,818 shares in the company, valued at approximately $2,000,235.64. The trade was a 7.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,018 shares of company stock worth $1,702,694. Company insiders own 1.40% of the company's stock.

Primoris Services Trading Down 0.9 %

Shares of NASDAQ:PRIM traded down $0.76 during midday trading on Friday, hitting $78.86. 451,398 shares of the stock were exchanged, compared to its average volume of 758,177. The business's 50-day moving average price is $80.07 and its 200 day moving average price is $67.75. Primoris Services Co. has a 12 month low of $36.14 and a 12 month 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. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 26.11 and a beta of 1.14.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PRIM shares. Guggenheim assumed coverage on shares of Primoris Services in a research report on Wednesday, January 8th. They issued a "buy" rating and a $102.00 target price for the company. UBS Group boosted their price objective on shares of Primoris Services from $75.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their target price on Primoris Services from $51.00 to $78.00 and gave the company a "neutral" rating in a report on Wednesday, November 6th. KeyCorp started coverage on Primoris Services in a research report on Wednesday, December 11th. They set an "overweight" rating and a $96.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on Primoris Services from $77.00 to $88.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. 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 MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $91.50.

Primoris Services 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.