Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. reduced its stake in Primoris Services Co. (NASDAQ:PRIM) by 17.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 173,452 shares of the construction company’s stock after selling 37,227 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Primoris Services were worth $13,252,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its holdings in shares of Primoris Services by 0.8% in the 4th quarter. Arizona State Retirement System now owns 15,577 shares of the construction company’s stock worth $1,190,000 after acquiring an additional 131 shares during the last quarter. Atria Investments Inc increased its stake in Primoris Services by 28.3% during the 4th quarter. Atria Investments Inc now owns 19,174 shares of the construction company’s stock worth $1,465,000 after buying an additional 4,230 shares during the period. Victory Capital Management Inc. increased its stake in Primoris Services by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 297,839 shares of the construction company’s stock worth $22,755,000 after buying an additional 8,963 shares during the period. Cornerstone Investment Partners LLC increased its stake in Primoris Services by 35.8% during the 4th quarter. Cornerstone Investment Partners LLC now owns 7,738 shares of the construction company’s stock worth $591,000 after buying an additional 2,038 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Primoris Services by 14.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 692,953 shares of the construction company’s stock worth $52,942,000 after buying an additional 85,943 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Trading Up 2.5 %

Shares of NASDAQ:PRIM opened at $68.45 on Thursday. 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’s 50 day moving average is $76.81 and its two-hundred day moving average is $70.32. The company has a market cap of $3.68 billion, a PE ratio of 22.66 and a beta of 1.14. Primoris Services Co. has a 52 week low of $38.42 and a 52 week high of $90.86.

Primoris Services Announces Dividend

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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services’s dividend payout ratio (DPR) is 9.64%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRIM. The Goldman Sachs Group upped their target price on shares of Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Guggenheim began coverage on shares of Primoris Services in a research note on Wednesday, January 8th. They set a “buy” rating and a $102.00 target price on the stock. UBS Group upped their target price on shares of Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. KeyCorp started coverage on shares of Primoris Services in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 price objective on the stock. Finally, DA Davidson reissued a “buy” rating and issued a $85.00 price objective on shares of Primoris Services in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $91.83.

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.