MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $56.29 Million Stock Holdings in Primoris Services Co. (NASDAQ:PRIM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 736,740 shares of the construction company's stock after acquiring an additional 40,805 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.37% of Primoris Services worth $56,287,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRIM. Barclays PLC grew its position in Primoris Services by 245.8% during the third quarter. Barclays PLC now owns 114,116 shares of the construction company's stock worth $6,628,000 after buying an additional 81,111 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Primoris Services by 12,845.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company's stock valued at $1,711,000 after purchasing an additional 22,223 shares in the last quarter. PFW Advisors LLC purchased a new stake in shares of Primoris Services in the fourth quarter valued at about $245,000. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Primoris Services by 6.0% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 36,294 shares of the construction company's stock valued at $2,773,000 after purchasing an additional 2,045 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Primoris Services in the fourth quarter valued at about $27,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Up 0.0%

NASDAQ PRIM traded up $0.03 during trading hours on Friday, reaching $75.52. 721,620 shares of the company traded hands, compared to its average volume of 759,630. Primoris Services Co. has a 12 month low of $45.92 and a 12 month high of $90.86. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $4.08 billion, a PE ratio of 25.01 and a beta of 1.33. The company has a 50 day moving average of $61.92 and a two-hundred day moving average of $71.93.

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, 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 company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the firm posted $0.47 EPS. The company's revenue for the quarter was up 16.7% on a year-over-year basis. As a group, equities analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.32 annualized dividend and a yield of 0.42%. Primoris Services's payout ratio is 8.47%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Primoris Services in a research note on Tuesday, March 11th. They set a "buy" rating and a $73.00 price objective on the stock. Piper Sandler upped their price objective on shares of Primoris Services from $75.00 to $76.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Guggenheim reissued a "buy" rating and set a $110.00 price objective on shares of Primoris Services in a research note on Thursday, April 10th. KeyCorp upped their price objective on shares of Primoris Services from $67.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Primoris Services from $88.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $85.75.

Insider Buying and Selling at Primoris Services

In related news, CEO Thomas Edward Mccormick sold 61,390 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the completion of the sale, the chief executive officer now directly owns 46,796 shares in the company, valued at approximately $2,999,623.60. This trade represents a 56.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeremy Kinch sold 4,500 shares of the firm's 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 sale, the insider now owns 12,586 shares of the company's stock, valued at approximately $858,868.64. This represents a 26.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,888 shares of company stock valued at $4,310,043. Company insiders own 1.40% 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.