Primoris Services Co. (NASDAQ:PRIM) Given Consensus Rating of “Buy” by Brokerages

Primoris Services Co. (NASDAQ:PRIM) has received a consensus recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $91.83.

A number of brokerages recently issued reports on PRIM. KeyCorp began 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 on the stock. Guggenheim began 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 on the stock. 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 research report on Thursday, November 14th. JPMorgan Chase & Co. boosted their target price on shares of Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, DA Davidson reissued a “buy” rating and issued a $85.00 price target on shares of Primoris Services in a report on Tuesday.

Primoris Services Trading Down 0.0 %

NASDAQ:PRIM opened at $71.68 on Monday. Primoris Services has a 12 month low of $38.38 and a 12 month high of $90.86. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 23.74 and a beta of 1.14. 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 company’s 50 day moving average is $77.49 and its 200-day moving average is $69.76.

Primoris Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. Primoris Services’s dividend payout ratio (DPR) is presently 9.64%.

Insider Activity

In other news, Director David Lee King sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $83.98, for a total value of $167,960.00. Following the sale, the director now owns 23,818 shares in the company, valued at approximately $2,000,235.64. The trade was a 7.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Primoris Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC lifted its position in Primoris Services by 1,945.8% during the 3rd quarter. Quest Partners LLC now owns 16,244 shares of the construction company’s stock worth $943,000 after buying an additional 15,450 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Primoris Services by 12,845.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 22,396 shares of the construction company’s stock worth $1,711,000 after buying an additional 22,223 shares in the last quarter. Benjamin Edwards Inc. lifted its position in Primoris Services by 40,543.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 6,503 shares of the construction company’s stock worth $378,000 after buying an additional 6,487 shares in the last quarter. AMI Asset Management Corp lifted its position in Primoris Services by 50.0% during the 4th quarter. AMI Asset Management Corp now owns 19,052 shares of the construction company’s stock worth $1,456,000 after buying an additional 6,350 shares in the last quarter. Finally, Congress Asset Management Co. acquired a new position in Primoris Services during the 4th quarter worth about $48,851,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

About Primoris Services

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.