Jackson Creek Investment Advisors LLC Takes Position in Primoris Services Co. (NASDAQ:PRIM)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,362 shares of the construction company’s stock, valued at approximately $1,008,000. Jackson Creek Investment Advisors LLC owned approximately 0.06% of Primoris Services as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bruni J V & Co. Co. raised its holdings in shares of Primoris Services by 0.5% in the 4th quarter. Bruni J V & Co. Co. now owns 585,009 shares of the construction company’s stock worth $19,428,000 after purchasing an additional 2,764 shares in the last quarter. Precision Wealth Strategies LLC acquired a new stake in shares of Primoris Services during the 4th quarter valued at $202,000. Foundry Partners LLC boosted its stake in shares of Primoris Services by 5.7% during the 4th quarter. Foundry Partners LLC now owns 167,773 shares of the construction company’s stock worth $5,572,000 after acquiring an additional 9,112 shares in the last quarter. CWM LLC grew its holdings in shares of Primoris Services by 85.1% in the 4th quarter. CWM LLC now owns 855 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of Primoris Services during the fourth quarter valued at $61,000. 91.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRIM. DA Davidson lifted their target price on shares of Primoris Services from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. StockNews.com downgraded Primoris Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. UBS Group lifted their target price on Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group raised their price target 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.

Primoris Services Stock Down 1.8 %

NASDAQ PRIM traded down $0.86 on Tuesday, reaching $46.60. The stock had a trading volume of 383,450 shares, compared to its average volume of 470,417. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.72. Primoris Services Co. has a 1 year low of $23.48 and a 1 year high of $47.87. The business has a 50 day moving average price of $42.29 and a 200 day moving average price of $35.87. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 20.46 and a beta of 1.19.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, February 26th. The construction company reported $0.85 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the previous year, the business posted $0.93 EPS. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, analysts forecast that Primoris Services Co. will post 2.61 EPS for the current fiscal year.

Primoris Services Dividend Announcement

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

Insider Buying and Selling at Primoris Services

In related news, CAO Travis L. Stricker sold 7,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $40.00, for a total transaction of $300,000.00. Following the completion of the sale, 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 is available through this link. In other news, CAO Travis L. Stricker sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $40.00, for a total value of $300,000.00. Following the completion of the sale, the chief accounting officer now directly owns 9,068 shares of the company’s stock, valued at $362,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction on Friday, March 15th. The stock was sold at an average price of $40.61, for a total transaction of $812,200.00. Following the sale, the director now owns 237,281 shares in the company, valued at approximately $9,635,981.41. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock worth $2,040,125 over the last 90 days. Insiders own 1.30% of the company’s stock.

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.