CANADA LIFE ASSURANCE Co Lowers Position in Primoris Services Co. (NASDAQ:PRIM)

CANADA LIFE ASSURANCE Co trimmed its position in Primoris Services Co. (NASDAQ:PRIM) by 47.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,013 shares of the construction company’s stock after selling 8,206 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Primoris Services were worth $687,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in shares of Primoris Services in the 4th quarter worth about $27,000. Farther Finance Advisors LLC grew its holdings in Primoris Services by 3,552.4% in the fourth quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company’s stock worth $59,000 after purchasing an additional 746 shares during the period. Principal Securities Inc. increased its stake in shares of Primoris Services by 63.2% during the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company’s stock valued at $68,000 after purchasing an additional 343 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Primoris Services by 4,550.0% during the fourth quarter. Covestor Ltd now owns 930 shares of the construction company’s stock valued at $71,000 after purchasing an additional 910 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of Primoris Services in the 4th quarter worth approximately $97,000. Institutional investors own 91.82% of the company’s stock.

Insider Transactions at Primoris Services

In other Primoris Services news, Director Stephen C. Cook sold 998 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total transaction of $67,864.00. Following the sale, the director now directly owns 7,377 shares of the company’s stock, valued at $501,636. This trade represents a 11.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy Kinch sold 4,500 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was 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 directly owns 12,586 shares of the company’s stock, valued at approximately $858,868.64. This trade represents a 26.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock valued at $4,310,043 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Primoris Services Trading Down 0.0 %

Primoris Services stock opened at $61.19 on Wednesday. The business has a 50-day simple moving average of $61.35 and a two-hundred day simple moving average of $71.29. Primoris Services Co. has a 52-week low of $45.37 and a 52-week high of $90.86. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.30 billion, a P/E ratio of 20.26 and a beta of 1.17.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.08 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. Primoris Services’s dividend payout ratio (DPR) is 9.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Piper Sandler started coverage on Primoris Services in a research report on Tuesday, April 8th. They set an “overweight” rating and a $75.00 price objective for the company. DA Davidson reiterated a “buy” rating and issued a $85.00 price target on shares of Primoris Services in a research note on Tuesday, February 25th. Jefferies Financial Group assumed coverage on shares of Primoris Services in a research note on Tuesday, March 11th. They set a “buy” rating and a $73.00 price objective for the company. KeyCorp dropped their target price on shares of Primoris Services from $90.00 to $67.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Primoris Services in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $84.75.

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.