Bruni J V & Co. Co. Buys 2,764 Shares of Primoris Services Co. (NASDAQ:PRIM)

Bruni J V & Co. Co. increased its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 585,009 shares of the construction company’s stock after purchasing an additional 2,764 shares during the quarter. Primoris Services accounts for approximately 2.4% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 22nd largest position. Bruni J V & Co. Co. owned 1.10% of Primoris Services worth $19,428,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC boosted its stake in shares of Primoris Services by 85.1% in the 4th quarter. CWM LLC now owns 855 shares of the construction company’s stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Group One Trading L.P. acquired a new position in Primoris Services in the 3rd quarter worth about $44,000. Federated Hermes Inc. bought a new stake in shares of Primoris Services during the fourth quarter worth about $61,000. New York State Teachers Retirement System acquired a new position in Primoris Services in the 4th quarter valued at approximately $159,000. Finally, Precision Wealth Strategies LLC bought a new stake in shares of Primoris Services in the fourth quarter worth $202,000. 91.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Primoris Services Stock Up 2.2 %

PRIM traded up $1.01 during midday trading on Friday, hitting $46.42. The company had a trading volume of 316,799 shares, compared to its average volume of 513,098. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average price is $42.12 and its 200 day moving average price is $35.70. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 16.29 and a beta of 1.19. Primoris Services Co. has a 52 week low of $23.48 and a 52 week high of $47.87.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.55 billion. During the same period in the prior year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, research analysts anticipate that Primoris Services Co. will post 2.61 earnings per share for the current fiscal year.

Primoris Services Announces Dividend

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

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director David Lee King sold 2,500 shares of Primoris Services stock in a transaction dated Wednesday, March 13th. The stock was 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 Securities & Exchange Commission, which is available through the SEC website. In other Primoris Services news, Director David Lee King sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were 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 of the company’s stock, valued at approximately $1,188,839.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $41.31, for a total transaction of $826,200.00. Following the transaction, the director now directly owns 217,281 shares in the company, valued at approximately $8,975,878.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,000 shares of company stock worth $2,040,125. 1.40% of the stock is owned by corporate insiders.

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.