GSA Capital Partners LLP Buys New Shares in Primoris Services Co. $PRIM

GSA Capital Partners LLP purchased a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,565 shares of the construction company’s stock, valued at approximately $1,726,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PRIM. Uncommon Cents Investing LLC raised its holdings in shares of Primoris Services by 2.1% during the 3rd quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the construction company’s stock valued at $536,000 after buying an additional 80 shares in the last quarter. Assetmark Inc. raised its stake in shares of Primoris Services by 9.7% during the third quarter. Assetmark Inc. now owns 953 shares of the construction company’s stock worth $131,000 after acquiring an additional 84 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Primoris Services by 2.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,528 shares of the construction company’s stock worth $431,000 after acquiring an additional 121 shares during the last quarter. Oliver Luxxe Assets LLC boosted its stake in shares of Primoris Services by 0.4% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the construction company’s stock valued at $4,437,000 after purchasing an additional 124 shares in the last quarter. Finally, Ethic Inc. grew its holdings in shares of Primoris Services by 4.3% during the 3rd quarter. Ethic Inc. now owns 3,163 shares of the construction company’s stock valued at $434,000 after purchasing an additional 131 shares during the last quarter. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Primoris Services Stock Down 2.4%

Shares of Primoris Services stock opened at $162.48 on Wednesday. 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 $174.43. The company has a market cap of $8.78 billion, a P/E ratio of 53.80 and a beta of 1.37. The company’s fifty day simple moving average is $141.27 and its two-hundred day simple moving average is $131.01.

Analyst Ratings Changes

PRIM has been the subject of several analyst reports. Cantor Fitzgerald initiated coverage on shares of Primoris Services in a research report on Friday, January 23rd. They set a “neutral” rating and a $160.00 price target for the company. Jefferies Financial Group reissued a “buy” rating and issued a $161.00 target price on shares of Primoris Services in a research note on Wednesday, November 5th. DA Davidson raised their price target on Primoris Services from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Primoris Services in a research note on Wednesday, November 5th. Finally, KeyCorp increased their price objective on Primoris Services from $154.00 to $159.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.93.

Insider Transactions at Primoris Services

In other Primoris Services news, Director John P. Schauerman sold 7,815 shares of Primoris Services stock in a transaction that occurred on 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 sale, the director directly owned 74,466 shares of the company’s stock, valued at approximately $10,127,376. The trade was a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carla S. Mashinski sold 2,082 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 21,530 shares of the company’s stock, valued at $2,909,564.20. This 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 corporate insiders.

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.