Hantz Financial Services Inc. Sells 27,037 Shares of Primoris Services Co. (NASDAQ:PRIM)

Hantz Financial Services Inc. reduced its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 52.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,940 shares of the construction company’s stock after selling 27,037 shares during the quarter. Hantz Financial Services Inc.’s holdings in Primoris Services were worth $1,905,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. KBC Group NV raised its holdings in shares of Primoris Services by 26.2% during the fourth quarter. KBC Group NV now owns 2,273 shares of the construction company’s stock valued at $174,000 after acquiring an additional 472 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Primoris Services by 25.6% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 49,000 shares of the construction company’s stock valued at $3,744,000 after acquiring an additional 10,000 shares in the last quarter. Apeiron RIA LLC purchased a new position in shares of Primoris Services during the 4th quarter worth approximately $205,000. Inspire Investing LLC raised its position in shares of Primoris Services by 118.7% in the 4th quarter. Inspire Investing LLC now owns 15,554 shares of the construction company’s stock worth $1,188,000 after acquiring an additional 8,443 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Primoris Services in the 4th quarter valued at approximately $436,000. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services Stock Performance

PRIM stock opened at $77.14 on Friday. The stock has a market capitalization of $4.14 billion, a PE ratio of 25.54 and a beta of 1.14. The stock’s 50 day simple moving average is $80.75 and its 200 day simple moving average is $66.93. Primoris Services Co. has a 12-month low of $32.63 and a 12-month high of $90.86. 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 (NASDAQ:PRIM) last released its quarterly earnings data on Monday, November 4th. The construction company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.02 by $0.20. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.58 billion. Primoris Services had a return on equity of 15.23% and a net margin of 2.68%. Primoris Services’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.02 EPS. As a group, research analysts forecast that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Primoris Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was 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%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRIM. Guggenheim assumed coverage on Primoris Services in a report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price objective for the company. DA Davidson lifted their price target on shares of Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on shares of Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their price target on Primoris Services from $77.00 to $88.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, KeyCorp assumed coverage on Primoris Services in a research report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Primoris Services presently has a consensus rating of “Buy” and a consensus target price of $91.50.

Insider Activity

In other Primoris Services news, Director David Lee King sold 2,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $83.98, for a total transaction of $167,960.00. Following the completion of the sale, the director now directly owns 23,818 shares in the company, valued at $2,000,235.64. The trade was a 7.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen C. Cook sold 4,018 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $78.53, for a total transaction of $315,533.54. Following the completion of the transaction, the director now owns 7,908 shares in the company, valued at $621,015.24. This trade represents a 33.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,018 shares of company stock valued at $1,854,974 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

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.