GW&K Investment Management LLC Has $36.80 Million Stock Position in Primoris Services Co. (NASDAQ:PRIM)

GW&K Investment Management LLC increased its holdings in shares of Primoris Services Co. (NASDAQ:PRIMGet Rating) by 14.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,534,643 shares of the construction company’s stock after buying an additional 190,599 shares during the quarter. GW&K Investment Management LLC owned 2.85% of Primoris Services worth $36,801,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. UBS Group AG increased its holdings in Primoris Services by 45.5% during the 3rd quarter. UBS Group AG now owns 4,029 shares of the construction company’s stock worth $99,000 after purchasing an additional 1,260 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Primoris Services by 32.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,045 shares of the construction company’s stock valued at $193,000 after acquiring an additional 1,975 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Primoris Services by 9.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 8,284 shares of the construction company’s stock valued at $203,000 after acquiring an additional 739 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Primoris Services by 30.0% in the 3rd quarter. Royal Bank of Canada now owns 8,288 shares of the construction company’s stock valued at $203,000 after acquiring an additional 1,914 shares in the last quarter. Finally, Shell Asset Management Co. grew its holdings in shares of Primoris Services by 58.7% in the 4th quarter. Shell Asset Management Co. now owns 9,155 shares of the construction company’s stock valued at $220,000 after acquiring an additional 3,387 shares in the last quarter. 88.35% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director David Lee King sold 20,000 shares of Primoris Services stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $26.51, for a total transaction of $530,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.40% of the company’s stock.

PRIM has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on Primoris Services from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, March 23rd. Zacks Investment Research upgraded Primoris Services from a “sell” rating to a “hold” rating in a report on Saturday, May 14th. StockNews.com initiated coverage on Primoris Services in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, DA Davidson reiterated a “buy” rating on shares of Primoris Services in a report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.75.

Shares of NASDAQ PRIM traded down $0.45 during midday trading on Friday, reaching $23.26. The company’s stock had a trading volume of 312,035 shares, compared to its average volume of 357,844. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.44. Primoris Services Co. has a fifty-two week low of $21.47 and a fifty-two week high of $34.02. The business’s 50 day moving average price is $24.79 and its two-hundred day moving average price is $25.11. The company has a market cap of $1.24 billion, a P/E ratio of 11.69 and a beta of 1.07.

Primoris Services (NASDAQ:PRIMGet Rating) last announced its quarterly earnings results on Monday, May 9th. The construction company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $784.38 million during the quarter, compared to the consensus estimate of $799.18 million. Primoris Services had a return on equity of 12.33% and a net margin of 3.12%. Primoris Services’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Sell-side analysts forecast that Primoris Services Co. will post 2.59 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 29th. Primoris Services’s payout ratio is 12.06%.

About Primoris Services (Get Rating)

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems.

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Institutional Ownership by Quarter for Primoris Services (NASDAQ:PRIM)

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