Boston Partners Buys 21,409 Shares of Primoris Services Co. (NASDAQ:PRIM)

Boston Partners increased its stake in Primoris Services Co. (NASDAQ:PRIM) by 4.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 496,702 shares of the construction company’s stock after purchasing an additional 21,409 shares during the period. Boston Partners’ holdings in Primoris Services were worth $39,204,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC raised its position in Primoris Services by 337.8% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 19,509 shares of the construction company’s stock worth $1,490,000 after purchasing an additional 15,053 shares during the last quarter. Cibc World Markets Corp bought a new position in Primoris Services in the 4th quarter worth approximately $382,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Primoris Services during the 4th quarter valued at $314,000. 12th Street Asset Management Company LLC raised its position in shares of Primoris Services by 2.7% during the 4th quarter. 12th Street Asset Management Company LLC now owns 281,905 shares of the construction company’s stock valued at $21,538,000 after acquiring an additional 7,495 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Primoris Services by 0.5% during the 4th quarter. Swiss National Bank now owns 105,600 shares of the construction company’s stock valued at $8,068,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Price Performance

Shares of PRIM stock opened at $64.66 on Thursday. Primoris Services Co. has a 12-month low of $39.79 and a 12-month high of $90.86. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 21.41 and a beta of 1.13. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $73.78 and a 200-day moving average of $70.98.

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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services’s payout ratio is presently 9.64%.

Insider Buying and Selling

In related news, insider Jeremy Kinch sold 4,500 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the transaction, the insider now directly owns 12,586 shares of the company’s stock, valued at approximately $858,868.64. This represents a 26.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Edward Mccormick sold 61,390 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the completion of the transaction, the chief executive officer now directly owns 46,796 shares of the company’s stock, valued at approximately $2,999,623.60. The trade was a 56.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,888 shares of company stock valued at $4,310,043. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PRIM shares. Guggenheim started coverage on shares of Primoris Services in a research report on Wednesday, January 8th. They set a “buy” rating and a $102.00 target price for the company. DA Davidson reiterated a “buy” rating and set a $85.00 target price on shares of Primoris Services in a research report on Tuesday, February 25th. KeyCorp started coverage on shares of Primoris Services in a research report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 target price for the company. Jefferies Financial Group started coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They set a “buy” rating and a $73.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Primoris Services from $88.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $89.14.

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.