Dynamic Technology Lab Private Ltd Increases Stock Holdings in Primoris Services Co. (NASDAQ:PRIM)

Dynamic Technology Lab Private Ltd boosted its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 81.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,150 shares of the construction company’s stock after buying an additional 6,789 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Primoris Services were worth $1,157,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in shares of Primoris Services in the fourth quarter valued at $27,000. Farther Finance Advisors LLC grew its holdings in Primoris Services by 3,552.4% during the 4th quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company’s stock valued at $59,000 after purchasing an additional 746 shares during the last quarter. Principal Securities Inc. raised its position in Primoris Services by 63.2% in the 4th quarter. Principal Securities Inc. now owns 886 shares of the construction company’s stock worth $68,000 after purchasing an additional 343 shares during the period. TD Private Client Wealth LLC lifted its stake in Primoris Services by 24.2% in the third quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company’s stock worth $69,000 after purchasing an additional 230 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Primoris Services during the fourth quarter valued at approximately $97,000. 91.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Primoris Services

In related news, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total transaction of $307,080.00. Following the transaction, the insider now directly owns 12,586 shares of the company’s stock, valued at $858,868.64. This trade represents a 26.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen C. Cook sold 998 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total value of $67,864.00. Following the sale, the director now owns 7,377 shares of the company’s stock, valued at approximately $501,636. This represents a 11.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,888 shares of company stock valued at $4,310,043. Company insiders own 0.90% of the company’s stock.

Primoris Services Price Performance

Shares of PRIM stock opened at $52.75 on Friday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.47 and a beta of 1.13. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a twelve month low of $42.82 and a twelve month high of $90.86. The stock has a fifty day simple moving average of $67.99 and a two-hundred day simple moving average of $71.60.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, March 31st. Primoris Services’s payout ratio is 9.64%.

Wall Street Analyst Weigh In

PRIM has been the topic of several recent analyst reports. Guggenheim started coverage on Primoris Services in a report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price target on the stock. Jefferies Financial Group began coverage on Primoris Services in a research note on Tuesday, March 11th. They issued a “buy” rating and a $73.00 target price on the stock. DA Davidson reiterated a “buy” rating and set a $85.00 target price on shares of Primoris Services in a research report on Tuesday, February 25th. KeyCorp initiated coverage on shares of Primoris Services in a report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Primoris Services from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. One research 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $89.14.

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.