Bruni J V & Co. Co. Sells 6,348 Shares of Primoris Services Co. (NASDAQ:PRIM)

Bruni J V & Co. Co. trimmed its stake in Primoris Services Co. (NASDAQ:PRIM) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 569,566 shares of the construction company’s stock after selling 6,348 shares during the period. Primoris Services comprises about 4.9% of Bruni J V & Co. Co.’s investment portfolio, making the stock its 8th biggest position. Bruni J V & Co. Co.’s holdings in Primoris Services were worth $43,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Primoris Services by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,218,911 shares of the construction company’s stock worth $70,810,000 after acquiring an additional 15,070 shares during the period. Summit Partners Public Asset Management LLC lifted its holdings in shares of Primoris Services by 80.6% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 839,853 shares of the construction company’s stock worth $48,779,000 after acquiring an additional 374,926 shares during the period. Yaupon Capital Management LP lifted its holdings in shares of Primoris Services by 28.4% during the 3rd quarter. Yaupon Capital Management LP now owns 699,817 shares of the construction company’s stock worth $40,645,000 after acquiring an additional 154,627 shares during the period. Congress Asset Management Co. bought a new position in shares of Primoris Services during the 4th quarter worth about $48,851,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Primoris Services by 17.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 607,010 shares of the construction company’s stock worth $35,255,000 after acquiring an additional 91,235 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Primoris Services news, Director David Lee King sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $83.98, for a total value of $167,960.00. Following the completion of the transaction, the director now directly owns 23,818 shares of the company’s stock, valued at approximately $2,000,235.64. The trade was a 7.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

PRIM has been the subject of a number of analyst reports. KeyCorp initiated coverage on shares of Primoris Services in a report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price objective for the company. UBS Group raised their price objective on shares of Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on shares of Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. DA Davidson reissued a “buy” rating and set a $85.00 price target on shares of Primoris Services in a report on Tuesday. Finally, Guggenheim assumed coverage on shares of Primoris Services in a report on Wednesday, January 8th. They set a “buy” rating and a $102.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $91.83.

Primoris Services Trading Down 0.0 %

Shares of PRIM stock opened at $71.68 on Friday. Primoris Services Co. has a 12-month low of $38.38 and a 12-month high of $90.86. The company has a market capitalization of $3.85 billion, a P/E ratio of 23.74 and a beta of 1.14. The firm has a 50-day moving average price of $77.49 and a 200 day moving average price of $69.76. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 31st. Primoris Services’s dividend payout ratio is presently 9.64%.

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.