Dynamic Technology Lab Private Ltd Has $486,000 Holdings in Primoris Services Co. (NASDAQ:PRIM)

Dynamic Technology Lab Private Ltd lessened its position in Primoris Services Co. (NASDAQ:PRIM) by 84.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,361 shares of the construction company’s stock after selling 46,983 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Primoris Services were worth $486,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of Primoris Services by 414.2% during the third quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock valued at $42,000 after buying an additional 584 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Primoris Services by 27.3% during the third quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock valued at $53,000 after buying an additional 197 shares during the last quarter. CWM LLC boosted its position in shares of 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 buying an additional 220 shares during the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Primoris Services during the second quarter valued at approximately $70,000. Finally, Canton Hathaway LLC purchased a new position in shares of Primoris Services during the second quarter valued at approximately $100,000. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Insider Activity

In related news, Director David Lee King sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $76.14, for a total transaction of $152,280.00. Following the completion of the transaction, the director now directly owns 25,818 shares in the company, valued at $1,965,782.52. The trade was a 7.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the transaction, the director now owns 162,281 shares of the company’s stock, valued at approximately $8,771,288.05. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,409 shares of company stock worth $4,762,468. 1.40% of the stock is owned by corporate insiders.

Primoris Services Stock Performance

Shares of PRIM opened at $83.71 on Friday. The firm has a market cap of $4.50 billion, a PE ratio of 27.54 and a beta of 1.05. The stock’s fifty day moving average price is $67.91 and its two-hundred day moving average price is $58.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. Primoris Services Co. has a 1 year low of $29.14 and a 1 year high of $84.97.

Primoris Services (NASDAQ:PRIM) last announced its quarterly earnings results on Monday, November 4th. The construction company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.20. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 earnings per share. On average, equities research analysts forecast that Primoris Services Co. will post 3.45 EPS for the current year.

Primoris Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.08 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Primoris Services’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 0.38%. Primoris Services’s payout ratio is 7.95%.

Analyst Ratings Changes

PRIM has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Primoris Services from $51.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. UBS Group lifted their price target on Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. started coverage on Primoris Services in a research note on Monday, October 7th. They issued an “overweight” rating and a $71.00 target price on the stock. Finally, DA Davidson boosted their target price on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.50.

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.