J.W. Cole Advisors Inc. Makes New $1.19 Million Investment in Primoris Services Co. $PRIM

J.W. Cole Advisors Inc. purchased a new position in shares of Primoris Services Co. (NASDAQ:PRIM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 8,689 shares of the construction company’s stock, valued at approximately $1,193,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hodges Capital Management Inc. bought a new stake in Primoris Services in the second quarter worth $3,320,000. Federated Hermes Inc. lifted its position in shares of Primoris Services by 5.8% in the second quarter. Federated Hermes Inc. now owns 347,785 shares of the construction company’s stock worth $27,106,000 after buying an additional 18,951 shares during the last quarter. Boston Partners boosted its stake in shares of Primoris Services by 14.1% during the 2nd quarter. Boston Partners now owns 564,898 shares of the construction company’s stock worth $47,823,000 after acquiring an additional 69,996 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Primoris Services during the 2nd quarter valued at about $1,283,000. Finally, Vest Financial LLC raised its stake in shares of Primoris Services by 96.9% in the 3rd quarter. Vest Financial LLC now owns 29,836 shares of the construction company’s stock valued at $4,097,000 after acquiring an additional 14,685 shares in the last quarter. Institutional investors own 91.82% of the company’s stock.

Insider Transactions at Primoris Services

In related news, Director John P. Schauerman sold 7,815 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the transaction, the director directly owned 74,466 shares in the company, valued at $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carla S. Mashinski sold 2,082 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $135.14, for a total value of $281,361.48. Following the completion of the transaction, the director directly owned 21,530 shares of the company’s stock, valued at approximately $2,909,564.20. This trade represents a 8.82% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PRIM has been the subject of a number of recent analyst reports. Wells Fargo & Company initiated coverage on Primoris Services in a research report on Friday, November 14th. They set an “equal weight” rating and a $138.00 target price for the company. KeyCorp upped their price objective on shares of Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating on shares of Primoris Services in a research note on Wednesday, November 5th. DA Davidson boosted their target price on shares of Primoris Services from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group upped their price target on shares of Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Primoris Services currently has an average rating of “Moderate Buy” and an average target price of $144.93.

Primoris Services Price Performance

Shares of Primoris Services stock opened at $160.87 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $8.69 billion, a PE ratio of 53.27 and a beta of 1.37. The firm has a fifty day moving average price of $136.15 and a two-hundred day moving average price of $127.49. Primoris Services Co. has a fifty-two week low of $49.10 and a fifty-two week high of $161.07.

Primoris Services Company Profile

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.