GSA Capital Partners LLP Reduces Holdings in Primoris Services Corp (PRIM)
GSA Capital Partners LLP decreased its holdings in Primoris Services Corp (NASDAQ:PRIM) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,646 shares of the construction company’s stock after selling 3,309 shares during the period. GSA Capital Partners LLP owned about 0.07% of Primoris Services worth $943,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Primoris Services in the first quarter worth $107,000. SG Americas Securities LLC acquired a new position in shares of Primoris Services in the first quarter worth $118,000. Element Capital Management LLC acquired a new position in shares of Primoris Services in the first quarter worth $221,000. Verition Fund Management LLC acquired a new position in shares of Primoris Services in the first quarter worth $222,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Primoris Services in the first quarter worth $253,000. Institutional investors and hedge funds own 73.70% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Primoris Services from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine upgraded shares of Primoris Services from a “hold” rating to a “buy” rating in a research note on Monday, June 18th. BidaskClub upgraded shares of Primoris Services from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 12th. Finally, DA Davidson boosted their price target on shares of Primoris Services to $34.00 and gave the stock a “buy” rating in a research note on Friday, June 22nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $31.00.
Primoris Services stock opened at $24.95 on Friday. The firm has a market cap of $1.29 billion, a PE ratio of 21.70, a PEG ratio of 1.53 and a beta of 1.18. Primoris Services Corp has a 12-month low of $23.61 and a 12-month high of $29.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.55 and a quick ratio of 1.55.
Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The business had revenue of $648.79 million during the quarter, compared to analysts’ expectations of $593.65 million. Primoris Services had a net margin of 2.37% and a return on equity of 8.23%. sell-side analysts forecast that Primoris Services Corp will post 1.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.96%. Primoris Services’s dividend payout ratio (DPR) is currently 20.87%.
Primoris Services Profile
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.
Further Reading: Understanding Price to Earnings Ratio (PE)
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