4,626 Shares in Primoris Services Co. $PRIM Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. acquired a new position in shares of Primoris Services Co. (NASDAQ:PRIM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,626 shares of the construction company’s stock, valued at approximately $635,000.

Other institutional investors also recently bought and sold shares of the company. Osterweis Capital Management Inc. acquired a new stake in shares of Primoris Services during the second quarter worth about $34,000. Blue Bell Private Wealth Management LLC purchased a new stake in Primoris Services during the 3rd quarter valued at approximately $37,000. Cullen Frost Bankers Inc. purchased a new stake in Primoris Services during the 3rd quarter valued at approximately $37,000. Public Employees Retirement System of Ohio lifted its position in Primoris Services by 85.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 484 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares during the period. Finally, McIlrath & Eck LLC grew its stake in shares of Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock valued at $38,000 after purchasing an additional 145 shares during the last quarter. 91.82% of the stock is currently owned by institutional investors and hedge funds.

Primoris Services Stock Performance

Shares of PRIM opened at $152.58 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 52-week low of $49.10 and a 52-week high of $155.19. The company has a 50-day simple moving average of $134.02 and a 200-day simple moving average of $125.69. The company has a market capitalization of $8.24 billion, a PE ratio of 50.52 and a beta of 1.36.

Primoris Services (NASDAQ:PRIM) last issued its earnings results on Monday, November 3rd. The construction company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.51. Primoris Services had a net margin of 2.68% and a return on equity of 15.23%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts predict that Primoris Services Co. will post 3.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on PRIM. KeyCorp upped their price target on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Guggenheim upgraded shares of Primoris Services from a “neutral” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Tuesday, January 13th. Roth Mkm started coverage on shares of Primoris Services in a research note on Thursday, October 9th. They issued a “buy” rating and a $170.00 target price for the company. Mizuho set a $129.00 price target on shares of Primoris Services in a research note on Tuesday, October 28th. Finally, Wells Fargo & Company assumed coverage on shares of Primoris Services in a report on Friday, November 14th. They set an “equal weight” rating and a $138.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $144.93.

Insider Transactions at Primoris Services

In other Primoris Services news, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $135.14, for a total value of $281,361.48. Following the sale, the director owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Lee King sold 3,500 shares of Primoris Services stock in a transaction on Monday, November 10th. The stock was sold at an average price of $130.00, for a total value of $455,000.00. Following the transaction, the chief executive officer directly owned 21,302 shares of the company’s stock, valued at $2,769,260. This trade represents a 14.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,888 shares of company stock worth $3,488,679 over the last quarter. Insiders own 1.40% of the company’s stock.

About Primoris Services

Primoris Services Corporation is a diversified infrastructure construction company that provides a wide range of specialty contracting services across North America. The company’s operations span pipe fabrication, pipeline construction, mechanical and electrical installations, civil and structural work, and maintenance services. Primoris serves clients in the energy, utility, transportation, water and wastewater, and industrial markets, delivering turnkey solutions from design and engineering through construction and operations support.

Within its two primary business segments—Pipeline & Facility and Civil & Utility—Primoris offers pipeline installation, compressor station construction, pump station projects, and above-ground facility work.