Jackson Creek Investment Advisors LLC Buys Shares of 30,362 Primoris Services Co. (NASDAQ:PRIM)

Jackson Creek Investment Advisors LLC purchased a new stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 30,362 shares of the construction company's stock, valued at approximately $1,008,000. Jackson Creek Investment Advisors LLC owned 0.06% of Primoris Services as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van Berkom & Associates Inc. increased its holdings in shares of Primoris Services by 5.9% in the third quarter. Van Berkom & Associates Inc. now owns 2,124,148 shares of the construction company's stock valued at $69,523,000 after purchasing an additional 117,414 shares during the period. FMR LLC increased its stake in Primoris Services by 1.1% in the 3rd quarter. FMR LLC now owns 1,722,707 shares of the construction company's stock valued at $56,384,000 after buying an additional 18,872 shares during the period. Northern Trust Corp raised its position in Primoris Services by 1.4% during the 3rd quarter. Northern Trust Corp now owns 599,941 shares of the construction company's stock worth $19,636,000 after buying an additional 8,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Primoris Services by 9.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,600 shares of the construction company's stock worth $19,429,000 after acquiring an additional 49,437 shares during the period. Finally, Bruni J V & Co. Co. boosted its holdings in shares of Primoris Services by 0.5% in the fourth quarter. Bruni J V & Co. Co. now owns 585,009 shares of the construction company's stock valued at $19,428,000 after acquiring an additional 2,764 shares in the last quarter. 91.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRIM has been the subject of several analyst reports. StockNews.com cut shares of Primoris Services from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 7th. UBS Group increased their target price on Primoris Services from $44.00 to $63.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. DA Davidson lifted their price target on Primoris Services from $45.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group increased their price objective on Primoris Services from $38.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, April 4th.

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 20,000 shares of the firm's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $40.61, for a total transaction of $812,200.00. Following the completion of the transaction, the director now directly owns 237,281 shares in the company, valued at approximately $9,635,981.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Primoris Services news, Director John P. Schauerman sold 20,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $40.61, for a total transaction of $812,200.00. Following the sale, the director now owns 237,281 shares in the company, valued at approximately $9,635,981.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Travis L. Stricker sold 7,500 shares of the business's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total value of $300,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 9,068 shares of the company's stock, valued at $362,720. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $2,040,125 in the last three months. Corporate insiders own 1.30% of the company's stock.

Primoris Services Price Performance

PRIM stock traded down $0.89 during trading on Tuesday, reaching $46.57. 383,454 shares of the company were exchanged, compared to its average volume of 470,417. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 1.41. The stock's 50 day moving average price is $42.29 and its 200 day moving average price is $35.87. Primoris Services Co. has a 52-week low of $23.48 and a 52-week high of $47.87. The company has a market cap of $2.50 billion, a P/E ratio of 20.09 and a beta of 1.19.

Primoris Services (NASDAQ:PRIM - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.64 by $0.21. Primoris Services had a return on equity of 13.20% and a net margin of 2.21%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The company's quarterly revenue was up 14.0% on a year-over-year basis. As a group, analysts predict that Primoris Services Co. will post 2.61 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, March 27th. Primoris Services's dividend payout ratio is currently 10.34%.

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.