Total Wealth Planning & Management Inc. Makes New $677,000 Investment in Primoris Services Co. (NASDAQ:PRIM)

Total Wealth Planning & Management Inc. bought a new stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,859 shares of the construction company's stock, valued at approximately $677,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRIM. Farther Finance Advisors LLC increased its position in shares of Primoris Services by 3,552.4% during the fourth quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company's stock worth $59,000 after acquiring an additional 746 shares during the period. Principal Securities Inc. increased its position in shares of Primoris Services by 63.2% during the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock worth $68,000 after acquiring an additional 343 shares during the period. Covestor Ltd increased its position in shares of Primoris Services by 4,550.0% during the fourth quarter. Covestor Ltd now owns 930 shares of the construction company's stock worth $71,000 after acquiring an additional 910 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Primoris Services during the fourth quarter worth $97,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Primoris Services during the fourth quarter worth $143,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

Wall Street Analysts Forecast Growth

PRIM has been the subject of a number of analyst reports. Piper Sandler boosted their target price on shares of Primoris Services from $75.00 to $76.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Guggenheim reiterated a "buy" rating and set a $110.00 target price on shares of Primoris Services in a research note on Thursday, April 10th. DA Davidson restated a "buy" rating and issued a $85.00 price objective on shares of Primoris Services in a research report on Tuesday, February 25th. Jefferies Financial Group began coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They issued a "buy" rating and a $73.00 price objective for the company. Finally, KeyCorp raised their price objective on shares of Primoris Services from $67.00 to $74.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.75.

Primoris Services Price Performance

Primoris Services stock traded up $0.42 during mid-day trading on Friday, reaching $72.30. The company had a trading volume of 696,997 shares, compared to its average volume of 775,092. Primoris Services Co. has a 1 year low of $45.92 and a 1 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 company has a market capitalization of $3.90 billion, a P/E ratio of 23.94 and a beta of 1.33. The stock's 50-day simple moving average is $63.44 and its 200-day simple moving average is $71.85.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The construction company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.28. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the company posted $0.47 EPS. The company's revenue was up 16.7% on a year-over-year basis. On average, equities analysts predict that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.44%. Primoris Services's dividend payout ratio (DPR) is 8.47%.

Insider Transactions at Primoris Services

In other Primoris Services news, CEO Thomas Edward Mccormick sold 61,390 shares of Primoris Services stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $64.10, for a total value of $3,935,099.00. Following the completion of the sale, the chief executive officer now directly owns 46,796 shares of the company's stock, valued at approximately $2,999,623.60. The trade was a 56.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeremy Kinch sold 4,500 shares of Primoris Services 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 66,888 shares of company stock valued at $4,310,043 in the last ninety days. Corporate insiders own 0.90% of the company's stock.

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.