Stephen C. Cook Sells 998 Shares of Primoris Services Co. (NASDAQ:PRIM) Stock

Primoris Services Co. (NASDAQ:PRIM) Director Stephen C. Cook sold 998 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $68.00, for a total transaction of $67,864.00. Following the completion of the transaction, the director now owns 7,377 shares of the company’s stock, valued at $501,636. This trade represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Primoris Services Stock Down 0.3 %

Shares of NASDAQ:PRIM opened at $63.40 on Friday. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 20.99 and a beta of 1.13. Primoris Services Co. has a 1-year low of $39.63 and a 1-year high of $90.86. The company’s fifty day moving average is $75.93 and its two-hundred day moving average is $70.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38.

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. 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 0.50%. Primoris Services’s dividend payout ratio (DPR) is 9.64%.

Institutional Trading of Primoris Services

A number of institutional investors and hedge funds have recently modified their holdings of PRIM. USA Financial Formulas acquired a new stake in shares of Primoris Services in the 4th quarter worth about $27,000. Nisa Investment Advisors LLC increased its holdings in shares of 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 period. Farther Finance Advisors LLC increased its holdings in shares of Primoris Services by 3,552.4% in the 4th quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company’s stock worth $59,000 after acquiring an additional 746 shares during the period. Principal Securities Inc. increased its holdings in shares of 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 acquiring an additional 343 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Primoris Services by 4,550.0% in the 4th quarter. Covestor Ltd now owns 930 shares of the construction company’s stock worth $71,000 after acquiring an additional 910 shares during the period. 91.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PRIM has been the subject of several analyst reports. DA Davidson restated a “buy” rating and issued a $85.00 target price on shares of Primoris Services in a research note on Tuesday, February 25th. Guggenheim began coverage on shares of Primoris Services in a report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price target on the stock. KeyCorp began 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. JPMorgan Chase & Co. upped 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, February 26th. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $91.83.

About Primoris Services

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.