Counterpoint Mutual Funds LLC Has $1.49 Million Holdings in Primoris Services Co. (NASDAQ:PRIM)

Counterpoint Mutual Funds LLC lifted its holdings in shares of Primoris Services Co. (NASDAQ:PRIM) by 337.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,509 shares of the construction company’s stock after buying an additional 15,053 shares during the quarter. Primoris Services comprises approximately 0.2% of Counterpoint Mutual Funds LLC’s investment portfolio, making the stock its 29th biggest holding. Counterpoint Mutual Funds LLC’s holdings in Primoris Services were worth $1,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PRIM. Principal Financial Group Inc. increased its holdings in Primoris Services by 45.0% in the third quarter. Principal Financial Group Inc. now owns 50,620 shares of the construction company’s stock valued at $2,940,000 after purchasing an additional 15,710 shares during the last quarter. Atria Investments Inc boosted its stake in Primoris Services by 12.7% during the 3rd quarter. Atria Investments Inc now owns 14,944 shares of the construction company’s stock worth $868,000 after acquiring an additional 1,684 shares during the last quarter. KBC Group NV grew its holdings in Primoris Services by 28.5% during the third quarter. KBC Group NV now owns 1,801 shares of the construction company’s stock valued at $105,000 after purchasing an additional 399 shares during the period. Prudent Man Advisors LLC acquired a new stake in Primoris Services in the third quarter worth $210,000. Finally, Quest Partners LLC boosted its position in shares of Primoris Services by 1,945.8% during the third quarter. Quest Partners LLC now owns 16,244 shares of the construction company’s stock worth $943,000 after purchasing an additional 15,450 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Primoris Services Stock Up 2.8 %

Shares of PRIM stock opened at $67.14 on Monday. The firm’s fifty day moving average price is $74.66 and its two-hundred day moving average price is $70.91. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 1 year low of $39.79 and a 1 year high of $90.86. The firm has a market capitalization of $3.61 billion, a P/E ratio of 22.23 and a beta of 1.13.

Primoris Services Dividend Announcement

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 issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 0.48%. Primoris Services’s payout ratio is presently 9.64%.

Insider Buying and Selling at Primoris Services

In related news, insider Jeremy Kinch sold 4,500 shares of the firm’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 trade represents a 26.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen C. Cook sold 998 shares of Primoris Services stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $68.00, for a total transaction of $67,864.00. Following the completion of the transaction, the director now directly owns 7,377 shares of the company’s stock, valued at approximately $501,636. This trade represents a 11.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

PRIM has been the topic of several recent analyst reports. Guggenheim began coverage on Primoris Services in a report on Wednesday, January 8th. They set a “buy” rating and a $102.00 target price on the stock. DA Davidson reiterated a “buy” rating and issued a $85.00 price objective on shares of Primoris Services in a research report on Tuesday, February 25th. Jefferies Financial Group began coverage on shares of Primoris Services in a research note on Tuesday, March 11th. They issued a “buy” rating and a $73.00 price target on the stock. KeyCorp began coverage on shares of Primoris Services in a report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $89.14.

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.