6,233 Shares in Primoris Services Co. $PRIM Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft purchased a new stake in Primoris Services Co. (NASDAQ:PRIM) during the third quarter, according to its most recent filing with the SEC. The fund purchased 6,233 shares of the construction company’s stock, valued at approximately $849,000.

Several other hedge funds have also bought and sold shares of the stock. NewEdge Advisors LLC grew its position in shares of Primoris Services by 34.5% during the first quarter. NewEdge Advisors LLC now owns 757 shares of the construction company’s stock valued at $43,000 after purchasing an additional 194 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Primoris Services by 7.4% during the first quarter. Goldman Sachs Group Inc. now owns 493,594 shares of the construction company’s stock valued at $28,337,000 after buying an additional 33,934 shares during the last quarter. Caxton Associates LLP purchased a new position in Primoris Services during the 1st quarter valued at approximately $268,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Primoris Services by 25.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,090 shares of the construction company’s stock worth $9,650,000 after acquiring an additional 33,818 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Primoris Services during the 2nd quarter worth approximately $371,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Wall Street Analyst Weigh In

PRIM has been the subject of a number of recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $143.00 target price (down from $145.00) on shares of Primoris Services in a report on Monday, December 8th. Wells Fargo & Company started coverage on shares of Primoris Services in a report on Friday, November 14th. They issued an “equal weight” rating and a $138.00 target price on the stock. Needham & Company LLC restated a “buy” rating on shares of Primoris Services in a research report on Wednesday, November 5th. The Goldman Sachs Group lifted their price target on Primoris Services from $117.00 to $133.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $161.00 price objective on shares of Primoris Services in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.93.

Primoris Services Price Performance

PRIM opened at $165.35 on Thursday. The business has a fifty day moving average of $138.45 and a 200 day moving average of $128.73. The stock has a market cap of $8.93 billion, a P/E ratio of 54.75 and a beta of 1.37. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $171.20.

Insider Transactions at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $136.00, for a total value of $1,062,840.00. Following the completion of the sale, the director directly owned 74,466 shares of the company’s stock, valued at $10,127,376. The trade was a 9.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carla S. Mashinski sold 2,082 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the sale, the director owned 21,530 shares of the company’s stock, valued at $2,909,564.20. The trade was a 8.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company’s stock.

Primoris Services Profile

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.