Savant Capital LLC Increases Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Savant Capital LLC boosted its position in Primoris Services Co. (NASDAQ:PRIM) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,209 shares of the construction company’s stock after purchasing an additional 348 shares during the quarter. Savant Capital LLC’s holdings in Primoris Services were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PRIM. Yorktown Management & Research Co Inc bought a new stake in Primoris Services during the fourth quarter valued at approximately $313,000. Longboard Asset Management LP bought a new position in shares of Primoris Services in the fourth quarter worth about $208,000. Jennison Associates LLC purchased a new stake in Primoris Services in the fourth quarter worth about $429,000. DAVENPORT & Co LLC lifted its position in shares of Primoris Services by 9.6% during the fourth quarter. DAVENPORT & Co LLC now owns 12,893 shares of the construction company’s stock valued at $985,000 after buying an additional 1,134 shares during the last quarter. Finally, KBC Group NV lifted its position 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 buying an additional 472 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PRIM. KeyCorp initiated coverage on shares of Primoris Services in a report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 price target on the stock. Guggenheim assumed coverage on shares of Primoris Services in a research report on Wednesday, January 8th. They set a “buy” rating and a $102.00 price target on the stock. UBS Group boosted their price objective on shares of Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on shares of Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, DA Davidson upped their target price on shares of Primoris Services from $60.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $91.50.

Insider Activity at Primoris Services

In other Primoris Services news, Director David Lee King sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $83.98, for a total value of $167,960.00. Following the completion of the transaction, the director now owns 23,818 shares of the company’s stock, valued at $2,000,235.64. This represents a 7.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.40% of the stock is owned by insiders.

Primoris Services Trading Down 1.5 %

Shares of PRIM stock opened at $73.39 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. Primoris Services Co. has a 1 year low of $37.00 and a 1 year high of $90.86. The stock has a fifty day moving average of $79.12 and a two-hundred day moving average of $68.97. The firm has a market capitalization of $3.94 billion, a PE ratio of 24.30 and a beta of 1.14.

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.