10,854 Shares in Primoris Services Co. $PRIM Acquired by Alps Advisors Inc.

Alps Advisors Inc. purchased a new position in Primoris Services Co. (NASDAQ:PRIM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,854 shares of the construction company’s stock, valued at approximately $1,491,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. grew its holdings in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the construction company’s stock worth $29,000 after purchasing an additional 148 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in Primoris Services in the 3rd quarter worth $37,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of Primoris Services in the third quarter valued at about $37,000. McIlrath & Eck LLC raised its stake in shares of Primoris Services by 109.8% during the third quarter. McIlrath & Eck LLC now owns 277 shares of the construction company’s stock valued at $38,000 after acquiring an additional 145 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its stake in shares of Primoris Services by 163.1% during the third quarter. Richardson Financial Services Inc. now owns 321 shares of the construction company’s stock valued at $44,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

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 dated Monday, December 8th. The shares were 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 in the company, valued at approximately $2,909,564.20. This represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $136.00, for a total transaction of $1,062,840.00. Following the transaction, the director owned 74,466 shares of the company’s stock, valued at $10,127,376. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Stock Performance

Shares of PRIM stock opened at $161.06 on Wednesday. The company’s fifty day moving average price is $137.66 and its 200-day moving average price is $128.48. The stock has a market cap of $8.70 billion, a PE ratio of 53.33 and a beta of 1.37. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 12 month low of $49.10 and a 12 month high of $164.38.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho set a $129.00 target price on Primoris Services in a research note on Tuesday, October 28th. Jefferies Financial Group reiterated a “buy” rating and issued a $161.00 price objective on shares of Primoris Services in a report on Wednesday, November 5th. KeyCorp lifted their price objective on Primoris Services from $154.00 to $159.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Needham & Company LLC restated a “buy” rating on shares of Primoris Services in a report on Wednesday, November 5th. Finally, Wells Fargo & Company started coverage on Primoris Services in a research note on Friday, November 14th. They issued an “equal weight” rating and a $138.00 price target for the company. One investment 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 issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.93.

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.