GSA Capital Partners LLP Purchases New Holdings in Primoris Services Corporation (PRIM)

GSA Capital Partners LLP acquired a new position in Primoris Services Corporation (NASDAQ:PRIM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 36,146 shares of the construction company’s stock, valued at approximately $1,063,000. GSA Capital Partners LLP owned approximately 0.07% of Primoris Services as of its most recent SEC filing.

Several other large investors have also modified their holdings of PRIM. Ameriprise Financial Inc. grew its stake in shares of Primoris Services by 242.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 163,130 shares of the construction company’s stock worth $4,800,000 after buying an additional 115,450 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Primoris Services by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,241,073 shares of the construction company’s stock worth $65,932,000 after buying an additional 94,279 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Primoris Services by 113.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 175,845 shares of the construction company’s stock worth $4,385,000 after buying an additional 93,397 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in shares of Primoris Services in the 2nd quarter worth $2,326,000. Finally, Algert Global LLC purchased a new position in shares of Primoris Services in the 3rd quarter worth $2,512,000. 70.46% of the stock is owned by institutional investors and hedge funds.

In related news, CEO David Lee King sold 9,077 shares of Primoris Services stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $27.43, for a total transaction of $248,982.11. Following the completion of the sale, the chief executive officer now owns 6,242 shares in the company, valued at approximately $171,218.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen C. Cook sold 3,980 shares of Primoris Services stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $27.82, for a total transaction of $110,723.60. Following the sale, the director now owns 10,502 shares of the company’s stock, valued at approximately $292,165.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,835 shares of company stock valued at $933,070. 24.00% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on PRIM shares. Zacks Investment Research raised shares of Primoris Services from a “sell” rating to a “hold” rating in a research note on Wednesday, December 13th. Seaport Global Securities reaffirmed a “buy” rating and set a $32.00 price target (up from $29.00) on shares of Primoris Services in a research note on Wednesday, October 11th. Canaccord Genuity reaffirmed a “buy” rating and set a $30.00 price target on shares of Primoris Services in a research note on Tuesday, November 7th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Primoris Services in a research note on Tuesday, September 19th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.67.

Primoris Services Corporation (NASDAQ:PRIM) opened at $27.94 on Friday. Primoris Services Corporation has a 52 week low of $21.83 and a 52 week high of $30.00. The company has a current ratio of 1.49, a quick ratio of 1.41 and a debt-to-equity ratio of 0.36. The company has a market cap of $1,438.51, a PE ratio of 22.35, a P/E/G ratio of 2.33 and a beta of 1.59.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 6th. The construction company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. Primoris Services had a net margin of 2.68% and a return on equity of 11.70%. The firm had revenue of $608.31 million during the quarter, compared to analysts’ expectations of $588.19 million. During the same period in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. analysts predict that Primoris Services Corporation will post 1.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, December 28th. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.86%. Primoris Services’s payout ratio is currently 17.60%.

ILLEGAL ACTIVITY NOTICE: “GSA Capital Partners LLP Purchases New Holdings in Primoris Services Corporation (PRIM)” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.com-unik.info/2017/12/24/gsa-capital-partners-llp-purchases-new-holdings-in-primoris-services-corporation-prim.html.

Primoris Services Profile

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.

Want to see what other hedge funds are holding PRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primoris Services Corporation (NASDAQ:PRIM).

Institutional Ownership by Quarter for Primoris Services (NASDAQ:PRIM)

Receive News & Ratings for Primoris Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit