GAMMA Investing LLC Has $748,000 Stock Holdings in Primoris Services Co. (NASDAQ:PRIM)

GAMMA Investing LLC boosted its position in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 7,798.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,032 shares of the construction company's stock after purchasing an additional 12,867 shares during the period. GAMMA Investing LLC's holdings in Primoris Services were worth $748,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in Primoris Services by 294.1% during the 1st quarter. Versant Capital Management Inc now owns 465 shares of the construction company's stock valued at $27,000 after purchasing an additional 347 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Primoris Services by 3,552.4% during the 4th quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company's stock valued at $59,000 after purchasing an additional 746 shares during the last quarter. Principal Securities Inc. lifted its holdings in Primoris Services by 63.2% during the 4th quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock valued at $68,000 after purchasing an additional 343 shares during the last quarter. Covestor Ltd lifted its holdings in Primoris Services by 4,550.0% during the 4th quarter. Covestor Ltd now owns 930 shares of the construction company's stock valued at $71,000 after purchasing an additional 910 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in Primoris Services during the 4th quarter valued at about $97,000. 91.82% of the stock is owned by institutional investors.

Primoris Services Price Performance

Shares of NASDAQ PRIM traded down $0.61 during trading on Friday, reaching $74.03. The company had a trading volume of 1,249,152 shares, compared to its average volume of 780,771. 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 cap of $4.00 billion, a PE ratio of 24.51 and a beta of 1.37. The business's 50 day moving average price is $68.64 and its 200-day moving average price is $70.94. Primoris Services Co. has a 52 week low of $45.92 and a 52 week high of $90.86.

Primoris Services (NASDAQ:PRIM - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.49 billion. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. Primoris Services's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. Analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 30th. Primoris Services's dividend payout ratio (DPR) is 8.47%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRIM. Jefferies Financial Group began 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. JPMorgan Chase & Co. lifted their price target on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. KeyCorp boosted their target price on shares of Primoris Services from $67.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. 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. Finally, Guggenheim reaffirmed a "buy" rating and issued a $110.00 target price on shares of Primoris Services in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $85.75.

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.