Keeley Teton Advisors LLC Lowers Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Keeley Teton Advisors LLC cut its holdings in Primoris Services Co. (NASDAQ:PRIM) by 37.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 101,936 shares of the construction company’s stock after selling 60,800 shares during the quarter. Primoris Services comprises approximately 0.9% of Keeley Teton Advisors LLC’s portfolio, making the stock its 16th largest holding. Keeley Teton Advisors LLC owned about 0.19% of Primoris Services worth $7,788,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas acquired a new stake in shares of Primoris Services in the 4th quarter worth $27,000. Farther Finance Advisors LLC lifted its holdings in Primoris Services by 3,552.4% in the fourth quarter. Farther Finance Advisors LLC now owns 767 shares of the construction company’s stock valued at $59,000 after acquiring an additional 746 shares during the period. Principal Securities Inc. boosted its position in shares of Primoris Services by 63.2% during the 4th quarter. Principal Securities Inc. now owns 886 shares of the construction company’s stock worth $68,000 after purchasing an additional 343 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Primoris Services by 24.2% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company’s stock valued at $69,000 after purchasing an additional 230 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Primoris Services by 4,550.0% in the fourth quarter. Covestor Ltd now owns 930 shares of the construction company’s stock valued at $71,000 after purchasing an additional 910 shares during the period. 91.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen C. Cook sold 998 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $68.00, for a total value of $67,864.00. Following the completion of the sale, the director now owns 7,377 shares of the company’s stock, valued at $501,636. This represents a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $68.24, for a total transaction of $307,080.00. Following the sale, the insider now owns 12,586 shares in the company, valued at $858,868.64. This represents a 26.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock valued at $4,310,043 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Stock Up 1.2 %

Shares of NASDAQ PRIM opened at $57.93 on Tuesday. The stock has a market capitalization of $3.12 billion, a PE ratio of 19.18 and a beta of 1.17. 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 firm has a fifty day moving average of $65.05 and a 200-day moving average of $71.49. Primoris Services Co. has a 52-week low of $42.82 and a 52-week high of $90.86.

Primoris Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.08 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. Primoris Services’s dividend payout ratio (DPR) is 9.64%.

Wall Street Analyst Weigh In

PRIM has been the subject of several research analyst reports. Piper Sandler assumed coverage on Primoris Services in a research note on Tuesday, April 8th. They issued an “overweight” rating and a $75.00 price objective for the company. Jefferies Financial Group started coverage on shares of Primoris Services in a research report on Tuesday, March 11th. They issued a “buy” rating and a $73.00 price target on the stock. Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of Primoris Services in a research report on Thursday, April 10th. JPMorgan Chase & Co. upped their target price on shares of Primoris Services from $88.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, DA Davidson reiterated a “buy” rating and set a $85.00 price target on shares of Primoris Services in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Primoris Services has an average rating of “Buy” and a consensus price target of $88.38.

Primoris Services 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.