LSV Asset Management Sells 109,084 Shares of Primoris Services Co. (NASDAQ:PRIM)

LSV Asset Management reduced its stake in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 530,568 shares of the construction company's stock after selling 109,084 shares during the quarter. LSV Asset Management owned 0.99% of Primoris Services worth $17,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in shares of Primoris Services by 85.1% during the 4th quarter. CWM LLC now owns 855 shares of the construction company's stock worth $28,000 after buying an additional 393 shares during the last quarter. M&T Bank Corp increased its position in shares of Primoris Services by 6.3% during the 4th quarter. M&T Bank Corp now owns 7,387 shares of the construction company's stock worth $245,000 after purchasing an additional 439 shares during the last quarter. Swiss National Bank raised its stake in shares of Primoris Services by 0.9% during the 3rd quarter. Swiss National Bank now owns 117,100 shares of the construction company's stock worth $3,833,000 after purchasing an additional 1,100 shares in the last quarter. Group One Trading L.P. acquired a new stake in shares of Primoris Services in the 3rd quarter valued at approximately $44,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Primoris Services by 2.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 72,551 shares of the construction company's stock worth $2,375,000 after acquiring an additional 1,796 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Primoris Services Trading Up 0.2 %

Shares of NASDAQ:PRIM traded up $0.09 during midday trading on Tuesday, hitting $47.89. 1,693,800 shares of the stock were exchanged, compared to its average volume of 486,269. The business's 50-day moving average price is $43.04 and its 200 day moving average price is $36.45. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 20.64 and a beta of 1.14. Primoris Services Co. has a 12 month low of $23.70 and a 12 month high of $48.76. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 1.41.

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

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.50%. Primoris Services's dividend payout ratio (DPR) is 10.34%.

Insider Buying and Selling

In other Primoris Services news, Director David Lee King sold 2,500 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $40.69, for a total transaction of $101,725.00. Following the completion of the transaction, the director now owns 29,217 shares in the company, valued at approximately $1,188,839.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director David Lee King sold 2,500 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $40.69, for a total value of $101,725.00. Following the transaction, the director now directly owns 29,217 shares of the company's stock, valued at approximately $1,188,839.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $41.31, for a total value of $826,200.00. Following the sale, the director now directly owns 217,281 shares of the company's stock, valued at approximately $8,975,878.11. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $2,040,125 over the last ninety days. 1.30% of the stock is owned by company insiders.

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.