Universal Beteiligungs und Servicegesellschaft mbH Takes Position in Primoris Services Co. (NASDAQ:PRIM)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 50,077 shares of Primoris Services Co., reflecting a new investment worth approximately $2.87 million and representing 0.09% ownership in the company.
• Primoris Services recently reported an EPS of $0.98, exceeding estimates and showcasing a 16.7% year-over-year revenue increase to $1.65 billion for the quarter.
• Institutional investors currently hold 91.82% of Primoris Services, indicating strong institutional confidence, while analysts have set target prices ranging from $76 to $110 for the stock.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,077 shares of the construction company's stock, valued at approximately $2,875,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.09% of Primoris Services at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Primoris Services by 97.4% in the fourth quarter. JPMorgan Chase & Co. now owns 772,591 shares of the construction company's stock valued at $59,026,000 after purchasing an additional 381,284 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Primoris Services by 34.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 13,922 shares of the construction company's stock worth $799,000 after purchasing an additional 3,561 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Primoris Services during the 1st quarter worth about $231,000. SG Americas Securities LLC acquired a new position in shares of Primoris Services during the 1st quarter worth about $1,070,000. Finally, KBC Group NV boosted its position in shares of Primoris Services by 24.5% in the 1st quarter. KBC Group NV now owns 2,831 shares of the construction company's stock valued at $163,000 after purchasing an additional 558 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on PRIM shares. JPMorgan Chase & Co. upped their target price on Primoris Services from $90.00 to $102.00 and gave the company an "overweight" rating in a research report on Tuesday, July 22nd. Piper Sandler raised their price objective on Primoris Services from $75.00 to $76.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Janney Montgomery Scott started coverage on Primoris Services in a research report on Thursday, July 3rd. They set a "buy" rating and a $102.00 price target for the company. Guggenheim restated a "buy" rating and set a $110.00 price objective on shares of Primoris Services in a report on Thursday, July 17th. Finally, KeyCorp lifted their target price on Primoris Services from $79.00 to $98.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Primoris Services currently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 15,000 shares of Primoris Services stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $77.37, for a total transaction of $1,160,550.00. Following the completion of the sale, the director owned 102,281 shares of the company's stock, valued at approximately $7,913,480.97. The trade was a 12.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Price Performance

PRIM traded down $3.07 during midday trading on Friday, reaching $91.10. 1,186,829 shares of the company's stock were exchanged, compared to its average volume of 916,481. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 30.17 and a beta of 1.37. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a one year low of $45.92 and a one year high of $96.16. The business has a 50-day simple moving average of $80.43 and a two-hundred day simple moving average of $72.24.

Primoris Services (NASDAQ:PRIM - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The construction company reported $0.98 EPS 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 firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter last year, the company earned $0.47 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, research analysts predict that Primoris Services Co. will post 3.26 EPS for the current year.

Primoris Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. Primoris Services's dividend payout ratio (DPR) is currently 8.47%.

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.