Belpointe Asset Management LLC bought a new stake in Primoris Services Co. (NASDAQ:PRIM – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,593 shares of the construction company’s stock, valued at approximately $57,000.
Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Primoris Services by 79.5% during the 3rd quarter. SG Americas Securities LLC now owns 27,137 shares of the construction company’s stock worth $441,000 after buying an additional 12,017 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Primoris Services during the third quarter worth about $26,000. Fox Run Management L.L.C. bought a new stake in Primoris Services in the third quarter worth about $445,000. Raymond James Financial Services Advisors Inc. purchased a new position in Primoris Services in the third quarter valued at about $449,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Primoris Services by 19.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 17,884 shares of the construction company’s stock valued at $291,000 after acquiring an additional 2,934 shares during the period. 88.14% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms recently commented on PRIM. StockNews.com downgraded Primoris Services from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. DA Davidson upped their price target on Primoris Services from $27.00 to $34.00 in a research report on Thursday, March 2nd. UBS Group lifted their price objective on Primoris Services from $29.00 to $34.00 in a report on Wednesday, March 8th. Finally, The Goldman Sachs Group upgraded Primoris Services from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $22.50 to $27.00 in a research note on Monday, April 3rd.
Insider Buying and Selling at Primoris Services
Primoris Services Stock Down 0.0 %
PRIM opened at $27.54 on Tuesday. The firm has a market capitalization of $1.47 billion, a P/E ratio of 10.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a fifty day moving average price of $24.93 and a 200-day moving average price of $24.12. Primoris Services Co. has a one year low of $15.90 and a one year high of $28.20.
Primoris Services (NASDAQ:PRIM – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The construction company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.26. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Primoris Services had a net margin of 2.78% and a return on equity of 13.57%. The business’s quarterly revenue was up 60.2% on a year-over-year basis. During the same quarter last year, the company posted $0.01 EPS. Equities research analysts expect that Primoris Services Co. will post 2.67 earnings per share for the current fiscal year.
Primoris Services Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, June 29th. Primoris Services’s dividend payout ratio is 9.52%.
Primoris Services Company Profile
Primoris Services Corp. operates as a holding company, which engages in the provision of construction, fabrication, maintenance, replacement, and engineering services. It operates through the following segments: Utilities, Energy and Renewables, and Pipeline. The Utilities segment specializes in a range of services, including telecommunications and installation and maintenance of new and existing natural gas and electric utility distribution and transmission systems.
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