Primoris Services Corporation (PRIM) Position Trimmed by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC lessened its stake in shares of Primoris Services Corporation (NASDAQ:PRIM) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,751 shares of the construction company’s stock after selling 2,300 shares during the period. Keeley Teton Advisors LLC owned 0.18% of Primoris Services worth $2,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Primoris Services by 8.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock valued at $106,000 after purchasing an additional 320 shares during the last quarter. First Quadrant L P CA boosted its holdings in shares of Primoris Services by 109.4% during the 3rd quarter. First Quadrant L P CA now owns 4,356 shares of the construction company’s stock valued at $128,000 after purchasing an additional 2,276 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Primoris Services during the 3rd quarter valued at about $138,000. SG Americas Securities LLC bought a new position in shares of Primoris Services during the 3rd quarter valued at about $152,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Primoris Services by 554.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,573 shares of the construction company’s stock valued at $139,000 after purchasing an additional 4,721 shares during the last quarter. 70.46% of the stock is owned by institutional investors and hedge funds.

Shares of Primoris Services Corporation (PRIM) opened at $27.89 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1,443.14, a PE ratio of 23.97, a PEG ratio of 2.34 and a beta of 1.59. Primoris Services Corporation has a 1 year low of $21.83 and a 1 year high of $30.00.

Primoris Services (NASDAQ:PRIM) last announced its earnings results on Monday, November 6th. The construction company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. The firm had revenue of $608.31 million for the quarter, compared to analysts’ expectations of $588.19 million. Primoris Services had a net margin of 2.68% and a return on equity of 11.70%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 EPS. sell-side analysts anticipate that Primoris Services Corporation will post 1.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, December 28th. Primoris Services’s dividend payout ratio is currently 17.60%.

PRIM has been the subject of several research reports. TheStreet raised shares of Primoris Services from a “c+” rating to a “b-” rating in a report on Friday, August 11th. Seaport Global Securities reissued a “buy” rating and set a $32.00 price objective (up previously from $29.00) on shares of Primoris Services in a report on Wednesday, October 11th. Zacks Investment Research downgraded shares of Primoris Services from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Canaccord Genuity reissued a “buy” rating and set a $30.00 price objective on shares of Primoris Services in a report on Tuesday, November 7th. Finally, KeyCorp reissued a “hold” rating on shares of Primoris Services in a report on Tuesday, September 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $31.67.

In other news, Director Brian Pratt sold 108,062 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $28.07, for a total transaction of $3,033,300.34. Following the sale, the director now directly owns 9,332,324 shares in the company, valued at approximately $261,958,334.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter J. Moerbeek sold 19,778 shares of the company’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $28.99, for a total transaction of $573,364.22. Following the sale, the chief financial officer now owns 43,346 shares in the company, valued at $1,256,600.54. The disclosure for this sale can be found here. Insiders have sold a total of 1,025,590 shares of company stock worth $29,237,653 over the last 90 days. Corporate insiders own 24.00% of the company’s stock.

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Primoris Services Profile

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Institutional Ownership by Quarter for Primoris Services (NASDAQ:PRIM)

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