Primoris Services Co. (NASDAQ:PRIM) Shares Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its holdings in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 134.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,763 shares of the construction company's stock after buying an additional 14,762 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Primoris Services were worth $856,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PRIM. CWM LLC increased its stake in Primoris Services by 85.1% in the fourth quarter. CWM LLC now owns 855 shares of the construction company's stock valued at $28,000 after purchasing an additional 393 shares during the period. Group One Trading L.P. acquired a new position in Primoris Services during the third quarter worth approximately $44,000. Federated Hermes Inc. acquired a new position in Primoris Services during the fourth quarter worth approximately $61,000. New York State Teachers Retirement System acquired a new position in shares of Primoris Services during the 4th quarter valued at $159,000. Finally, Precision Wealth Strategies LLC acquired a new stake in shares of Primoris Services in the fourth quarter valued at about $202,000. 91.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at Primoris Services

In related news, CAO Travis L. Stricker sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, March 7th. The shares were 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 approximately $362,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Thomas Edward Mccormick sold 10,000 shares of Primoris Services stock in a transaction on Friday, May 10th. The shares were sold at an average price of $49.47, for a total value of $494,700.00. Following the transaction, the chief executive officer now owns 60,961 shares in the company, valued at approximately $3,015,740.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Travis L. Stricker sold 7,500 shares of Primoris Services stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief accounting officer now owns 9,068 shares in the company, valued at approximately $362,720. The disclosure for this sale can be found here. In the last quarter, insiders have sold 88,448 shares of company stock valued at $3,977,149. 1.30% of the stock is owned by corporate insiders.

Primoris Services Trading Up 0.6 %

Shares of PRIM traded up $0.29 during trading hours on Wednesday, reaching $52.69. The stock had a trading volume of 410,213 shares, compared to its average volume of 501,540. 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 52 week low of $26.29 and a 52 week high of $53.68. The firm has a 50-day moving average of $45.58 and a 200 day moving average of $38.12. The company has a market cap of $2.83 billion, a P/E ratio of 19.88 and a beta of 1.14.

Primoris Services (NASDAQ:PRIM - Get Free Report) last issued 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 business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.38 billion. Primoris Services had a return on equity of 14.13% and a net margin of 2.45%. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 earnings per share. On average, sell-side analysts expect that Primoris Services Co. will post 2.67 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, June 28th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.46%. Primoris Services's dividend payout ratio (DPR) is presently 9.06%.

About Primoris Services

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.