Value Holdings Management CO. LLC lessened its holdings in shares of Primoris Services Corporation (NASDAQ:PRIM) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 430,175 shares of the construction company’s stock after selling 40,668 shares during the quarter. Primoris Services comprises about 4.1% of Value Holdings Management CO. LLC’s holdings, making the stock its 11th biggest holding. Value Holdings Management CO. LLC owned about 0.84% of Primoris Services worth $11,696,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio lifted its position in shares of Primoris Services by 8.2% during the second quarter. Public Employees Retirement System of Ohio now owns 4,238 shares of the construction company’s stock worth $106,000 after purchasing an additional 320 shares in the last quarter. First Quadrant L P CA lifted its position in shares of Primoris Services by 109.4% during the third quarter. First Quadrant L P CA now owns 4,356 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,276 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Primoris Services during the third quarter worth about $138,000. BNP Paribas Arbitrage SA lifted its position in shares of Primoris Services by 554.1% during the second quarter. BNP Paribas Arbitrage SA now owns 5,573 shares of the construction company’s stock worth $139,000 after purchasing an additional 4,721 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Primoris Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,078 shares of the construction company’s stock worth $152,000 after purchasing an additional 910 shares in the last quarter. 70.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Primoris Services Corporation (NASDAQ:PRIM) opened at $26.17 on Friday. The firm has a market cap of $1,355.16, a P/E ratio of 20.94, a P/E/G ratio of 1.94 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. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.
Primoris Services (NASDAQ:PRIM) last issued its earnings results on Monday, November 6th. The construction company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. equities analysts forecast that Primoris Services Corporation will post 1.13 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Investors of record on Friday, December 29th were issued a $0.06 dividend. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. The ex-dividend date was Thursday, December 28th. This represents a $0.24 annualized dividend and a yield of 0.92%. Primoris Services’s dividend payout ratio (DPR) is 19.20%.
In other Primoris Services news, CEO David Lee King sold 9,077 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.43, for a total transaction of $248,982.11. Following the sale, the chief executive officer now owns 6,242 shares of the company’s stock, valued at $171,218.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Schauerman sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $28.00, for a total transaction of $1,400,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,513 shares of company stock worth $2,606,860. 24.00% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on the stock. Seaport Global Securities reissued a “buy” rating and set a $32.00 price target (up previously from $29.00) on shares of Primoris Services in a research report on Wednesday, October 11th. Zacks Investment Research cut shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. BidaskClub cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $30.00 target price on shares of Primoris Services in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.67.
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About Primoris Services
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.
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