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

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

A number of other large investors have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Primoris Services by 33.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,296 shares of the construction company’s stock valued at $946,000 after buying an additional 4,107 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Primoris Services by 0.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,240 shares of the construction company’s stock worth $6,984,000 after purchasing an additional 733 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of 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 during the last quarter. Janus Henderson Group PLC increased its position in Primoris Services by 29.9% during the 3rd quarter. Janus Henderson Group PLC now owns 91,932 shares of the construction company’s stock valued at $5,340,000 after buying an additional 21,143 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Primoris Services by 2.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 97,825 shares of the construction company’s stock valued at $5,682,000 after buying an additional 2,313 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Insider Activity at Primoris Services

In other Primoris Services news, CEO Thomas Edward Mccormick sold 61,390 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the completion of the transaction, the chief executive officer now owns 46,796 shares in the company, valued at $2,999,623.60. This trade represents a 56.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeremy Kinch sold 4,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 12,586 shares of the company’s stock, valued at approximately $858,868.64. This trade represents a 26.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,888 shares of company stock valued at $4,310,043. Corporate insiders own 0.90% of the company’s stock.

Primoris Services Stock Down 4.5 %

Shares of PRIM opened at $52.75 on Friday. Primoris Services Co. has a 12-month low of $42.82 and a 12-month high of $90.86. 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 company has a market capitalization of $2.83 billion, a PE ratio of 17.47 and a beta of 1.13. The business’s 50 day moving average is $67.99 and its 200 day moving average is $71.60.

Primoris Services Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on PRIM. JPMorgan Chase & Co. boosted their price objective on shares of Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. DA Davidson reaffirmed a “buy” rating and set a $85.00 price target on shares of Primoris Services in a report on Tuesday, February 25th. Guggenheim assumed coverage on Primoris Services in a research report on Wednesday, January 8th. They set a “buy” rating and a $102.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Primoris Services in a report on Tuesday, March 11th. They set a “buy” rating and a $73.00 price objective for the company. Finally, KeyCorp initiated coverage on Primoris Services in a report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 target price on the stock. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target 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.