Nebula Research & Development LLC Sells 13,088 Shares of Primoris Services Co. (NASDAQ:PRIM)

Nebula Research & Development LLC cut its position in Primoris Services Co. (NASDAQ:PRIM - Free Report) by 54.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,168 shares of the construction company's stock after selling 13,088 shares during the quarter. Nebula Research & Development LLC's holdings in Primoris Services were worth $853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Primoris Services by 0.8% during the fourth quarter. Arizona State Retirement System now owns 15,577 shares of the construction company's stock valued at $1,190,000 after purchasing an additional 131 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Primoris Services by 4.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,611 shares of the construction company's stock worth $505,000 after acquiring an additional 268 shares in the last quarter. HighTower Advisors LLC increased its stake in Primoris Services by 5.3% in the fourth quarter. HighTower Advisors LLC now owns 5,317 shares of the construction company's stock valued at $406,000 after acquiring an additional 268 shares during the last quarter. Summit Investment Advisors Inc. raised its position in Primoris Services by 5.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,592 shares of the construction company's stock valued at $427,000 after purchasing an additional 313 shares in the last quarter. Finally, Principal Securities Inc. lifted its stake in Primoris Services by 63.2% during the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company's stock worth $68,000 after purchasing an additional 343 shares during the last quarter. 91.82% of the stock is owned by institutional investors.

Insider Activity at Primoris Services

In related news, Director Stephen C. Cook sold 998 shares of Primoris Services stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total transaction of $67,864.00. Following the sale, the director now directly owns 7,377 shares in the company, valued at $501,636. The trade was a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeremy Kinch sold 4,500 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the sale, the insider now directly owns 12,586 shares in the company, valued at approximately $858,868.64. The trade was a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock worth $4,310,043 over the last 90 days. 1.40% of the stock is owned by company insiders.

Primoris Services Trading Up 3.6 %

Shares of Primoris Services stock traded up $2.32 during trading on Friday, reaching $66.17. 1,252,757 shares of the stock were exchanged, compared to its average volume of 735,826. Primoris Services Co. has a 1 year low of $45.69 and a 1 year high of $90.86. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 21.91 and a beta of 1.33. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock's fifty day moving average is $61.23 and its 200 day moving average is $71.23.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.48%. Primoris Services's dividend payout ratio (DPR) is presently 9.64%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Piper Sandler assumed coverage on Primoris Services in a report on Tuesday, April 8th. They set an "overweight" rating and a $75.00 price objective on the stock. DA Davidson reaffirmed a "buy" rating and issued a $85.00 price objective on shares of Primoris Services in a research note on Tuesday, February 25th. Jefferies Financial Group initiated coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They issued a "buy" rating and a $73.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Primoris Services from $88.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, KeyCorp reduced their price objective on Primoris Services from $90.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $84.75.

Primoris Services 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.