QRG Capital Management Inc. Has $4.44 Million Holdings in Primoris Services Co. (NASDAQ:PRIM)

QRG Capital Management Inc. grew its holdings in Primoris Services Co. (NASDAQ:PRIM) by 4.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 76,356 shares of the construction company’s stock after acquiring an additional 3,108 shares during the period. QRG Capital Management Inc.’s holdings in Primoris Services were worth $4,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in Primoris Services by 414.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock valued at $42,000 after purchasing an additional 584 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 buying an additional 197 shares during the last quarter. CWM LLC boosted its holdings in shares of Primoris Services by 25.1% during the 2nd quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after buying an additional 220 shares during the period. FSC Wealth Advisors LLC acquired a new position in Primoris Services in the 2nd quarter valued at about $70,000. Finally, Canton Hathaway LLC bought a new position in Primoris Services in the 2nd quarter valued at about $100,000. 91.82% of the stock is currently owned by institutional investors.

Primoris Services Stock Performance

Shares of NASDAQ:PRIM opened at $74.15 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. Primoris Services Co. has a 12-month low of $29.14 and a 12-month high of $73.90. The company’s 50 day moving average price is $58.58 and its two-hundred day moving average price is $54.14. The firm has a market cap of $3.98 billion, a PE ratio of 26.11 and a beta of 1.05.

Primoris Services (NASDAQ:PRIM) last posted its quarterly earnings data on Monday, November 4th. The construction company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.20. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.58 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $1.02 EPS. Equities research analysts predict that Primoris Services Co. will post 3.33 earnings per share for the current year.

Insider Buying and Selling

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the sale, the director now directly owns 162,281 shares in the company, valued at $8,771,288.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Primoris Services news, insider John M. Perisich sold 4,391 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $55.33, for a total transaction of $242,954.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the sale, the director now owns 162,281 shares of the company’s stock, valued at $8,771,288.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,391 shares of company stock worth $3,075,454. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRIM. UBS Group boosted their price objective on Primoris Services from $69.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Primoris Services in a research report on Monday, October 7th. They set an “overweight” rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.00.

Primoris Services 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.