Hantz Financial Services Inc. Has $3.02 Million Stake in Primoris Services Co. (NASDAQ:PRIM)

Hantz Financial Services Inc. lowered its holdings in Primoris Services Co. (NASDAQ:PRIM) by 12.1% in the third quarter, Holdings Channel reports. The firm owned 51,977 shares of the construction company’s stock after selling 7,168 shares during the quarter. Hantz Financial Services Inc.’s holdings in Primoris Services were worth $3,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in shares of Primoris Services by 27.3% in the 3rd quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock valued at $53,000 after acquiring an additional 197 shares in the last quarter. CWM LLC boosted its position in Primoris Services by 25.1% during the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock valued at $55,000 after purchasing an additional 220 shares during the last quarter. Arizona State Retirement System grew its stake in Primoris Services by 2.0% in the second quarter. Arizona State Retirement System now owns 14,959 shares of the construction company’s stock valued at $746,000 after purchasing an additional 294 shares in the last quarter. KBC Group NV increased its position in shares of Primoris Services by 28.5% during the 3rd quarter. KBC Group NV now owns 1,801 shares of the construction company’s stock worth $105,000 after purchasing an additional 399 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Primoris Services by 414.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock worth $42,000 after purchasing an additional 584 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PRIM shares. UBS Group boosted their target price on shares of Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. DA Davidson boosted their price objective on shares of Primoris Services from $60.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. began coverage on shares of Primoris Services in a research note on Monday, October 7th. They issued an “overweight” rating and a $71.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Primoris Services currently has an average rating of “Moderate Buy” and an average target price of $83.50.

Primoris Services Stock Performance

Shares of NASDAQ:PRIM opened at $83.71 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 12-month low of $29.14 and a 12-month high of $84.97. The company’s 50 day moving average price is $68.40 and its two-hundred day moving average price is $58.30. The firm has a market cap of $4.50 billion, a PE ratio of 27.72 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 15.23% and a net margin of 2.68%. 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 3.45 earnings per share for the current year.

Primoris Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Primoris Services’s previous quarterly dividend of $0.06. Primoris Services’s payout ratio is 10.60%.

Insider Buying and Selling

In other Primoris Services news, CEO Thomas Edward Mccormick sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $81.28, for a total transaction of $1,219,200.00. Following the completion of the sale, the chief executive officer now directly owns 61,390 shares in the company, valued at $4,989,779.20. This represents a 19.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Schauerman sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the sale, the director now directly owns 162,281 shares in the company, valued at approximately $8,771,288.05. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,409 shares of company stock valued at $4,762,468 over the last quarter. 1.40% of the stock is owned by company insiders.

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.