Primoris Services Co. $PRIM is Bruni J V & Co. Co.’s 2nd Largest Position

Bruni J V & Co. Co. reduced its position in Primoris Services Co. (NASDAQ:PRIM) by 17.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 457,894 shares of the construction company’s stock after selling 94,325 shares during the period. Primoris Services accounts for about 6.3% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 2nd biggest position. Bruni J V & Co. Co. owned about 0.85% of Primoris Services worth $62,883,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PRIM. SBI Securities Co. Ltd. raised its holdings in shares of Primoris Services by 224.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after acquiring an additional 148 shares in the last quarter. Osterweis Capital Management Inc. bought a new stake in Primoris Services in the second quarter worth $34,000. Blue Bell Private Wealth Management LLC purchased a new stake in Primoris Services during the third quarter valued at $37,000. Cullen Frost Bankers Inc. bought a new position in Primoris Services during the third quarter valued at $37,000. Finally, McIlrath & Eck LLC grew its stake in shares of Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock worth $38,000 after buying an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

PRIM opened at $169.51 on Friday. The business has a fifty day moving average of $143.26 and a 200 day moving average of $132.15. The stock has a market cap of $9.16 billion, a P/E ratio of 56.13 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 $174.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on PRIM. Wells Fargo & Company initiated coverage on shares of Primoris Services in a research report on Friday, November 14th. They set an “equal weight” rating and a $138.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $161.00 price objective on shares of Primoris Services in a research note on Wednesday, November 5th. KeyCorp lifted their target price on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Mizuho set a $129.00 price target on Primoris Services in a report on Tuesday, October 28th. Finally, Guggenheim raised shares of Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average price target of $144.93.

Insider Activity

In other news, Director Carla S. Mashinski sold 2,082 shares of the firm’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 transaction of $281,361.48. Following the transaction, the director directly owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the sale, the director directly owned 74,466 shares of the company’s stock, valued at $10,127,376. This represents a 9.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

Primoris Services Company 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.