Janus Henderson Group PLC Has $8.20 Million Stake in Primoris Services Co. (NASDAQ:PRIM)

Janus Henderson Group PLC raised its holdings in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 107,288 shares of the construction company's stock after acquiring an additional 15,356 shares during the period. Janus Henderson Group PLC owned 0.20% of Primoris Services worth $8,196,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Goodlander Investment Management LLC purchased a new position in Primoris Services in the 4th quarter worth approximately $9,550,000. Gotham Asset Management LLC boosted its stake in Primoris Services by 125.4% in the fourth quarter. Gotham Asset Management LLC now owns 38,910 shares of the construction company's stock valued at $2,973,000 after acquiring an additional 21,647 shares during the period. Encompass Capital Advisors LLC grew its holdings in shares of Primoris Services by 110.6% during the fourth quarter. Encompass Capital Advisors LLC now owns 473,288 shares of the construction company's stock valued at $36,159,000 after purchasing an additional 248,559 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Primoris Services during the 4th quarter worth approximately $209,000. Finally, Fiduciary Trust Co bought a new stake in shares of Primoris Services in the 4th quarter worth approximately $218,000. Hedge funds and other institutional investors own 91.82% of the company's stock.

Insider Activity at Primoris Services

In other Primoris Services news, insider Jeremy Kinch sold 4,500 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total transaction of $307,080.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Edward Mccormick sold 61,390 shares of the stock in a transaction 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 owns 46,796 shares of the company's stock, valued at $2,999,623.60. The trade was a 56.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,888 shares of company stock worth $4,310,043 in the last quarter. 1.40% of the stock is owned by company insiders.

Primoris Services Price Performance

Shares of NASDAQ PRIM traded up $0.85 during midday trading on Friday, reaching $70.57. The company's stock had a trading volume of 143,709 shares, compared to its average volume of 768,506. Primoris Services Co. has a one year low of $45.92 and a one year high of $90.86. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 23.37 and a beta of 1.33. The company has a 50 day moving average price of $62.55 and a 200 day moving average price of $72.15. 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 (NASDAQ:PRIM - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.28. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.49 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%. The firm's revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, equities research analysts expect that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 30th. Primoris Services's dividend payout ratio is 8.47%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. DA Davidson reissued a "buy" rating and set a $85.00 price target on shares of Primoris Services in a report on Tuesday, February 25th. Piper Sandler upped their price target 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. KeyCorp increased their price objective on shares of Primoris Services from $67.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of Primoris Services in a report on Thursday, April 10th. Finally, JPMorgan Chase & Co. upped their target price on Primoris Services from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Primoris Services currently has an average rating of "Moderate Buy" and a consensus 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.