Los Angeles Capital Management LLC Has $2.63 Million Holdings in Primoris Services Co. (NASDAQ:PRIM)

Los Angeles Capital Management LLC increased its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 779.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,469 shares of the construction company’s stock after acquiring an additional 30,550 shares during the period. Los Angeles Capital Management LLC’s holdings in Primoris Services were worth $2,633,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PRIM. Quest Partners LLC raised its stake in shares of Primoris Services by 1,945.8% in the 3rd quarter. Quest Partners LLC now owns 16,244 shares of the construction company’s stock valued at $943,000 after purchasing an additional 15,450 shares during the period. Harbor Capital Advisors Inc. raised 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 valued at $1,711,000 after buying an additional 22,223 shares during the last quarter. Benjamin Edwards Inc. lifted its stake 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 valued at $378,000 after acquiring an additional 6,487 shares in the last quarter. AMI Asset Management Corp boosted its position in Primoris Services by 50.0% during the 4th quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company’s stock worth $1,456,000 after acquiring an additional 6,350 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new position in Primoris Services during the 4th quarter worth approximately $48,851,000. 91.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRIM has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price objective 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. DA Davidson reissued a “buy” rating and set a $85.00 price target on shares of Primoris Services in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday. UBS Group lifted their target price on Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, KeyCorp started coverage on Primoris Services in a research report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price target for the company. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Primoris Services has an average rating of “Buy” and a consensus price target of $91.83.

Insider Buying and Selling 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 stock was sold at an average price of $83.98, for a total transaction of $167,960.00. Following the completion of the sale, the director now owns 23,818 shares of the company’s stock, valued at $2,000,235.64. This trade represents a 7.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Stock Down 1.9 %

Primoris Services stock opened at $71.79 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The company’s 50-day moving average is $77.49 and its 200-day moving average is $69.76. The firm has a market capitalization of $3.86 billion, a PE ratio of 23.77 and a beta of 1.14. Primoris Services Co. has a fifty-two week low of $37.93 and a fifty-two week high of $90.86.

Primoris Services Announces Dividend

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

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.