Boston Partners Has $16.93 Million Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Boston Partners lowered its position in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508,296 shares of the construction company's stock after selling 16,471 shares during the quarter. Boston Partners owned approximately 0.95% of Primoris Services worth $16,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Primoris Services by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,595,569 shares of the construction company's stock worth $119,410,000 after purchasing an additional 109,481 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Primoris Services by 4.5% during the fourth quarter. QRG Capital Management Inc. now owns 66,650 shares of the construction company's stock worth $2,213,000 after purchasing an additional 2,866 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Primoris Services by 67.6% during the fourth quarter. BNP Paribas Financial Markets now owns 57,971 shares of the construction company's stock worth $1,925,000 after purchasing an additional 23,389 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Primoris Services by 31.5% in the 4th quarter. Teacher Retirement System of Texas now owns 35,303 shares of the construction company's stock valued at $1,172,000 after acquiring an additional 8,456 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Primoris Services by 6.3% in the 4th quarter. M&T Bank Corp now owns 7,387 shares of the construction company's stock valued at $245,000 after acquiring an additional 439 shares during the period. Institutional investors and hedge funds own 91.82% of the company's stock.

Insider Activity

In other news, Director David Lee King sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $40.69, for a total value of $101,725.00. Following the completion of the sale, the director now directly owns 29,217 shares in the company, valued at approximately $1,188,839.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director David Lee King sold 2,500 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $40.69, for a total value of $101,725.00. Following the completion of the sale, the director now directly owns 29,217 shares in the company, valued at approximately $1,188,839.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Schauerman sold 20,000 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $40.61, for a total value of $812,200.00. Following the transaction, the director now owns 237,281 shares of the company's stock, valued at approximately $9,635,981.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,448 shares of company stock worth $3,198,349. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Primoris Services Trading Down 1.8 %

Shares of PRIM stock traded down $0.91 during mid-day trading on Thursday, hitting $50.36. 341,673 shares of the company's stock were exchanged, compared to its average volume of 503,658. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.69. Primoris Services Co. has a fifty-two week low of $25.62 and a fifty-two week high of $52.75. The stock has a 50-day simple moving average of $44.48 and a two-hundred day simple moving average of $37.36. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 19.35 and a beta of 1.14.

Primoris Services (NASDAQ:PRIM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.39. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.38 billion. Primoris Services had a net margin of 2.45% and a return on equity of 14.13%. The firm's quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. Equities analysts expect that Primoris Services Co. will post 2.67 EPS for the current fiscal year.

Primoris Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.48%. Primoris Services's dividend payout ratio (DPR) is 9.06%.

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.