Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Bruni J V & Co. Co.

Bruni J V & Co. Co. decreased its position in Primoris Services Co. (NASDAQ:PRIM) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 575,914 shares of the construction company’s stock after selling 6,403 shares during the quarter. Primoris Services accounts for approximately 3.7% of Bruni J V & Co. Co.’s holdings, making the stock its 10th largest holding. Bruni J V & Co. Co.’s holdings in Primoris Services were worth $33,449,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. lifted its stake in Primoris Services by 27.3% in the 3rd quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock valued at $53,000 after acquiring an additional 197 shares in the last quarter. CWM LLC lifted its position in shares of Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after purchasing an additional 220 shares in the last quarter. Arizona State Retirement System boosted its holdings in Primoris Services by 2.0% during the second quarter. Arizona State Retirement System now owns 14,959 shares of the construction company’s stock worth $746,000 after purchasing an additional 294 shares during the last quarter. KBC Group NV grew its position in Primoris Services by 28.5% in the third quarter. KBC Group NV now owns 1,801 shares of the construction company’s stock valued at $105,000 after purchasing an additional 399 shares in the last quarter. Finally, EntryPoint Capital LLC increased its stake in Primoris Services by 16.2% in the 1st quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock valued at $157,000 after buying an additional 513 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

Insider Activity at Primoris Services

In other news, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the transaction, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. The trade was a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen C. Cook sold 4,018 shares of Primoris Services stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $78.53, for a total transaction of $315,533.54. Following the completion of the transaction, the director now directly owns 7,908 shares in the company, valued at $621,015.24. This trade represents a 33.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,409 shares of company stock worth $4,762,468. Corporate insiders own 1.30% of the company’s stock.

Primoris Services Price Performance

Shares of PRIM opened at $79.06 on Tuesday. The firm has a market capitalization of $4.25 billion, a PE ratio of 21.81 and a beta of 1.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The company’s 50-day moving average is $63.43 and its 200-day moving average is $56.27. Primoris Services Co. has a fifty-two week low of $29.14 and a fifty-two week high of $83.40.

Primoris Services (NASDAQ:PRIM) last issued its quarterly earnings data on Monday, November 4th. The construction company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.20. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts forecast that Primoris Services Co. will post 3.45 EPS for the current year.

Primoris Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.08 per share. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.40%. Primoris Services’s dividend payout ratio (DPR) is presently 7.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. DA Davidson raised their price objective on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. UBS Group upped their price objective on Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. initiated coverage on shares of Primoris Services in a report on Monday, October 7th. They set an “overweight” rating and a $71.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Primoris Services from $51.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

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.