Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lowered its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 52.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,940 shares of the construction company’s stock after selling 27,037 shares during the quarter. Hantz Financial Services Inc.’s holdings in Primoris Services were worth $1,905,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in shares of Primoris Services during the fourth quarter worth $27,000. Nisa Investment Advisors LLC raised its stake in Primoris Services by 414.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock worth $42,000 after acquiring an additional 584 shares during the last quarter. Blue Trust Inc. lifted its position in Primoris Services by 27.3% during the 3rd quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock worth $53,000 after acquiring an additional 197 shares during the period. Millburn Ridgefield Corp purchased a new stake in Primoris Services during the 3rd quarter valued at about $59,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of 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 valued at $69,000 after purchasing an additional 230 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Up 3.4 %

PRIM opened at $77.14 on Friday. Primoris Services Co. has a fifty-two week low of $32.63 and a fifty-two week high of $90.86. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 25.54 and a beta of 1.14. The company has a fifty day moving average of $80.75 and a two-hundred day moving average of $66.93.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.20. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm posted $1.02 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Primoris Services Co. will post 3.26 earnings per share for the current year.

Primoris Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.08 dividend. This is an increase from Primoris Services’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Tuesday, December 31st. Primoris Services’s dividend payout ratio is currently 10.60%.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of recent research reports. DA Davidson upped their target price on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Guggenheim started coverage on shares of Primoris Services in a report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price objective on the stock. The Goldman Sachs Group raised their target price 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. KeyCorp assumed 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 Primoris Services from $77.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $91.50.

Insider Buying and Selling at Primoris Services

In related news, Director Stephen C. Cook sold 4,018 shares of Primoris Services stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $78.53, for a total transaction of $315,533.54. Following the transaction, the director now owns 7,908 shares in the company, valued at approximately $621,015.24. This trade represents a 33.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas Edward Mccormick sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $81.28, for a total value of $1,219,200.00. Following the completion of the sale, the chief executive officer now owns 61,390 shares of the company’s stock, valued at approximately $4,989,779.20. The trade was a 19.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,018 shares of company stock worth $1,854,974. Corporate insiders own 1.40% of the company’s stock.

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.