CreativeOne Wealth LLC Purchases 3,608 Shares of Primoris Services Co. (NASDAQ:PRIM)

CreativeOne Wealth LLC increased its position in Primoris Services Co. (NASDAQ:PRIM) by 61.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,470 shares of the construction company’s stock after acquiring an additional 3,608 shares during the period. CreativeOne Wealth LLC’s holdings in Primoris Services were worth $724,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PRIM. Arizona State Retirement System grew its stake in shares of Primoris Services by 0.8% during the 4th quarter. Arizona State Retirement System now owns 15,577 shares of the construction company’s stock valued at $1,190,000 after purchasing an additional 131 shares during the period. PNC Financial Services Group Inc. grew its position in Primoris Services by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,611 shares of the construction company’s stock valued at $505,000 after buying an additional 268 shares during the period. HighTower Advisors LLC grew its position in Primoris Services by 5.3% during the fourth quarter. HighTower Advisors LLC now owns 5,317 shares of the construction company’s stock valued at $406,000 after buying an additional 268 shares during the period. Summit Investment Advisors Inc. increased its holdings in Primoris Services by 5.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,592 shares of the construction company’s stock valued at $427,000 after buying an additional 313 shares during the last quarter. Finally, Principal Securities Inc. raised its position in Primoris Services by 63.2% in the fourth quarter. Principal Securities Inc. now owns 886 shares of the construction company’s stock worth $68,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Down 2.4 %

Shares of PRIM opened at $56.35 on Friday. The firm has a market cap of $3.04 billion, a P/E ratio of 18.66 and a beta of 1.17. 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 $42.86 and a 1 year high of $90.86. The company has a 50 day simple moving average of $63.72 and a two-hundred day simple moving average of $71.29.

Primoris Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.32 annualized dividend and a yield of 0.57%. Primoris Services’s payout ratio is 9.64%.

Analyst Ratings Changes

Several research firms have recently commented on PRIM. KeyCorp reduced their price objective on Primoris Services from $90.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday. DA Davidson restated a “buy” rating and issued a $85.00 price target on shares of Primoris Services in a research report on Tuesday, February 25th. Jefferies Financial Group assumed coverage on Primoris Services in a research note on Tuesday, March 11th. They set a “buy” rating and a $73.00 price objective for the company. Guggenheim restated a “buy” rating and set a $110.00 target price on shares of Primoris Services in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Primoris Services from $88.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Primoris Services has a consensus rating of “Buy” and a consensus target price of $84.75.

Insider Buying and Selling at Primoris Services

In related news, CEO Thomas Edward Mccormick sold 61,390 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $64.10, for a total transaction of $3,935,099.00. Following the completion of the transaction, the chief executive officer now directly owns 46,796 shares of the company’s stock, valued at approximately $2,999,623.60. This represents a 56.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeremy Kinch sold 4,500 shares of Primoris Services stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $68.24, for a total value of $307,080.00. Following the completion of the sale, the insider now directly owns 12,586 shares in the company, valued at approximately $858,868.64. The trade was a 26.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,888 shares of company stock worth $4,310,043. Insiders own 1.40% of the company’s stock.

Primoris Services Company 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.