Primoris Services Co. (NASDAQ:PRIM) is Bruni J V & Co. Co.’s 8th Largest Position

Bruni J V & Co. Co. decreased its stake in Primoris Services Co. (NASDAQ:PRIM) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 569,566 shares of the construction company’s stock after selling 6,348 shares during the quarter. Primoris Services makes up about 4.9% of Bruni J V & Co. Co.’s holdings, making the stock its 8th biggest position. Bruni J V & Co. Co. owned approximately 1.06% of Primoris Services worth $43,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC lifted its position in Primoris Services by 1,945.8% in the 3rd quarter. Quest Partners LLC now owns 16,244 shares of the construction company’s stock worth $943,000 after buying an additional 15,450 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Primoris Services by 12,845.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company’s stock worth $1,711,000 after buying an additional 22,223 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Primoris Services by 40,543.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company’s stock worth $378,000 after buying an additional 6,487 shares in the last quarter. AMI Asset Management Corp raised its holdings in shares of Primoris Services by 50.0% during the 4th quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company’s stock valued at $1,456,000 after purchasing an additional 6,350 shares in the last quarter. Finally, Congress Asset Management Co. bought a new position in shares of Primoris Services during the 4th quarter valued at $48,851,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Performance

NASDAQ:PRIM opened at $71.68 on Friday. Primoris Services Co. has a 1 year low of $38.38 and a 1 year high of $90.86. The firm’s fifty day simple moving average is $77.49 and its 200 day simple moving average is $69.76. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $3.85 billion, a PE ratio of 23.74 and a beta of 1.14.

Primoris Services Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PRIM shares. JPMorgan Chase & Co. raised their price target on shares of Primoris Services from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday. KeyCorp started coverage on shares of Primoris Services in a report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price target on the stock. UBS Group raised their price target on shares of Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Guggenheim started coverage on shares of Primoris Services in a report on Wednesday, January 8th. They set a “buy” rating and a $102.00 price target on the stock. Finally, The Goldman Sachs Group raised their price target on shares of Primoris Services from $51.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $91.83.

Insider Activity at Primoris Services

In other Primoris Services news, Director David Lee King sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $83.98, for a total value of $167,960.00. Following the sale, the director now directly owns 23,818 shares in the company, valued at $2,000,235.64. This trade represents a 7.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by company insiders.

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.