Boston Partners Buys 21,409 Shares of Primoris Services Co. (NASDAQ:PRIM)

Boston Partners raised its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,702 shares of the construction company’s stock after buying an additional 21,409 shares during the period. Boston Partners owned 0.92% of Primoris Services worth $39,204,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in Primoris Services by 6.1% during the fourth quarter. QRG Capital Management Inc. now owns 80,979 shares of the construction company’s stock valued at $6,187,000 after buying an additional 4,623 shares in the last quarter. Quest Partners LLC raised its holdings in Primoris Services by 1,945.8% during the third quarter. Quest Partners LLC now owns 16,244 shares of the construction company’s stock valued at $943,000 after buying an additional 15,450 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Primoris Services by 12,845.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company’s stock valued at $1,711,000 after buying an additional 22,223 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Primoris Services by 40,543.8% in the third quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company’s stock valued at $378,000 after purchasing an additional 6,487 shares during the last quarter. Finally, AMI Asset Management Corp grew its position in shares of Primoris Services by 50.0% in the fourth quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 6,350 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Primoris Services

In other news, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas Edward Mccormick sold 61,390 shares of Primoris Services stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the completion of the transaction, the chief executive officer now owns 46,796 shares of the company’s stock, valued at $2,999,623.60. This trade represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,888 shares of company stock valued at $4,310,043. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Stock Up 1.6 %

NASDAQ PRIM opened at $64.66 on Thursday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $73.78 and its two-hundred day moving average is $70.98. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 21.41 and a beta of 1.13. Primoris Services Co. has a 1-year low of $39.79 and a 1-year high of $90.86.

Primoris Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services’s payout ratio is 9.64%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. KeyCorp assumed coverage on Primoris Services in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 price target on the stock. Jefferies Financial Group assumed coverage on Primoris Services in a research report on Tuesday, March 11th. They issued a “buy” rating and a $73.00 price target on the stock. DA Davidson reaffirmed a “buy” rating and issued a $85.00 price target on shares of Primoris Services in a research report on Tuesday, February 25th. Guggenheim began coverage on Primoris Services in a research report on Wednesday, January 8th. They set a “buy” rating and a $102.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $89.14.

Primoris Services Company 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.