18,645 Shares in Primoris Services Co. (NASDAQ:PRIM) Acquired by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,645 shares of the construction company's stock, valued at approximately $1,070,000.

Several other large investors have also recently bought and sold shares of PRIM. Versant Capital Management Inc increased its stake 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 buying an additional 347 shares during the period. Farther Finance Advisors LLC increased its stake 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 buying an additional 746 shares during the period. Principal Securities Inc. increased its stake 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 buying an additional 343 shares during the period. Covestor Ltd increased its stake 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 buying an additional 910 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in Primoris Services during the 4th quarter valued at about $97,000. Institutional investors and hedge funds own 91.82% of the company's stock.

Primoris Services Stock Down 0.5%

NASDAQ:PRIM traded down $0.38 during trading hours on Thursday, hitting $74.64. 591,111 shares of the company's stock traded hands, compared to its average volume of 779,446. The firm has a market cap of $4.03 billion, a P/E ratio of 24.72 and a beta of 1.37. Primoris Services Co. has a twelve month low of $45.92 and a twelve 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's fifty day moving average price is $68.30 and its two-hundred day moving average price is $71.10.

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, beating the consensus estimate of $0.70 by $0.28. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.49 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%. Primoris Services's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. On average, research analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 0.43%. The ex-dividend date of this dividend is Monday, June 30th. Primoris Services's dividend payout ratio is currently 8.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on PRIM. Guggenheim reissued a "buy" rating and set a $110.00 target price on shares of Primoris Services in a research note on Thursday, April 10th. Piper Sandler raised their price objective on shares of Primoris Services from $75.00 to $76.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Jefferies Financial Group assumed coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They set a "buy" rating and a $73.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Primoris Services from $88.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Finally, DA Davidson restated a "buy" rating and set a $85.00 price objective on shares of Primoris Services in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Primoris Services currently has a consensus rating of "Moderate Buy" and an average target price 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.