Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. trimmed its position in Primoris Services Co. (NASDAQ:PRIM) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,775 shares of the construction company’s stock after selling 1,020 shares during the period. Thompson Davis & CO. Inc.’s holdings in Primoris Services were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PRIM. CWM LLC boosted its holdings in 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 buying an additional 393 shares during the last quarter. Group One Trading L.P. acquired a new stake in Primoris Services in the 3rd quarter worth about $44,000. Federated Hermes Inc. acquired a new stake in Primoris Services in the 4th quarter worth about $61,000. New York State Teachers Retirement System purchased a new position in Primoris Services in the 4th quarter worth approximately $159,000. Finally, Precision Wealth Strategies LLC purchased a new position in Primoris Services in the 4th quarter worth approximately $202,000. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John P. Schauerman sold 20,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $41.31, for a total transaction of $826,200.00. Following the completion of the transaction, the director now owns 217,281 shares in the company, valued at $8,975,878.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John P. Schauerman sold 20,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $41.31, for a total transaction of $826,200.00. Following the completion of the transaction, the director now owns 217,281 shares in the company, valued at $8,975,878.11. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Travis L. Stricker sold 7,500 shares of the business’s 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 transaction, the chief accounting officer now owns 9,068 shares of the company’s stock, valued at approximately $362,720. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $2,040,125 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Primoris Services Trading Down 1.9 %

Primoris Services stock traded down $0.89 during trading on Tuesday, hitting $46.57. The company had a trading volume of 383,454 shares, compared to its average volume of 470,417. The company’s 50 day simple moving average is $42.29 and its 200-day simple moving average is $35.87. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 20.09 and a beta of 1.19. 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.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings results on Monday, February 26th. The construction company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.64 by $0.21. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.55 billion. Primoris Services had a net margin of 2.21% and a return on equity of 13.20%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. As a group, analysts expect that Primoris Services Co. will post 2.61 EPS for the current fiscal year.

Primoris Services Announces Dividend

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

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.