Schroder Investment Management Group Boosts Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Schroder Investment Management Group boosted its holdings in Primoris Services Co. (NASDAQ:PRIMFree Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,005,360 shares of the construction company’s stock after purchasing an additional 41,983 shares during the period. Schroder Investment Management Group owned about 1.88% of Primoris Services worth $33,388,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PRIM. CWM LLC lifted its position in shares of Primoris Services by 85.1% during the 4th quarter. CWM LLC now owns 855 shares of the construction company’s stock valued at $28,000 after buying an additional 393 shares during the last quarter. Group One Trading L.P. purchased a new position in shares of Primoris Services during the 3rd quarter valued at $44,000. Federated Hermes Inc. purchased a new position in shares of Primoris Services during the 4th quarter valued at $61,000. New York State Teachers Retirement System purchased a new position in shares of Primoris Services during the 4th quarter valued at $159,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Primoris Services by 27.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 5,453 shares of the construction company’s stock valued at $181,000 after buying an additional 1,173 shares during the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Performance

NASDAQ:PRIM opened at $52.38 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services Co. has a 52-week low of $28.29 and a 52-week high of $56.62. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 19.77 and a beta of 1.12. The business’s fifty day moving average is $48.67 and its 200 day moving average is $40.14.

Primoris Services (NASDAQ:PRIMGet Free Report) last announced its earnings results on Wednesday, May 8th. The construction company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.38 billion. Primoris Services had a return on equity of 14.13% and a net margin of 2.45%. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. Research analysts predict that Primoris Services Co. will post 2.67 EPS for the current year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.06 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. Primoris Services’s dividend payout ratio is currently 9.06%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on 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 boosted their price objective on Primoris Services from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. UBS Group boosted their price objective on Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, StockNews.com lowered Primoris Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th.

Read Our Latest Research Report on PRIM

Insiders Place Their Bets

In other Primoris Services news, Director John P. Schauerman sold 20,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $40.61, for a total value of $812,200.00. Following the transaction, the director now directly owns 237,281 shares in the company, valued at approximately $9,635,981.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider John M. Perisich sold 13,448 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $49.34, for a total transaction of $663,524.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John P. Schauerman sold 20,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $40.61, for a total value of $812,200.00. Following the transaction, the director now owns 237,281 shares in the company, valued at $9,635,981.41. The disclosure for this sale can be found here. Insiders have sold 90,948 shares of company stock worth $4,206,249 in the last ninety days. 1.30% of the stock is currently owned by insiders.

About Primoris Services

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Primoris Services (NASDAQ:PRIM)

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