GW&K Investment Management LLC lowered its position in Primoris Services Corp. (NASDAQ:PRIM) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,325,958 shares of the company’s stock after selling 51,581 shares during the period. GW&K Investment Management LLC’s holdings in Primoris Services Corp. were worth $25,100,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of PRIM. LaSalle Street Capital Management LLC raised its stake in Primoris Services Corp. by 1.7% in the second quarter. LaSalle Street Capital Management LLC now owns 19,791 shares of the company’s stock worth $375,000 after buying an additional 327 shares during the last quarter. BlackRock Inc. raised its stake in Primoris Services Corp. by 18.8% in the first quarter. BlackRock Inc. now owns 10,546 shares of the company’s stock worth $256,000 after buying an additional 1,670 shares during the last quarter. Value Holdings LP raised its stake in Primoris Services Corp. by 0.6% in the first quarter. Value Holdings LP now owns 332,350 shares of the company’s stock worth $8,076,000 after buying an additional 2,000 shares during the last quarter. Eagle Asset Management Inc. raised its stake in Primoris Services Corp. by 3.6% in the second quarter. Eagle Asset Management Inc. now owns 155,719 shares of the company’s stock worth $2,947,000 after buying an additional 5,468 shares during the last quarter. Finally, Barclays PLC raised its stake in Primoris Services Corp. by 341.1% in the first quarter. Barclays PLC now owns 12,352 shares of the company’s stock worth $296,000 after buying an additional 9,552 shares during the last quarter. 74.49% of the stock is currently owned by hedge funds and other institutional investors.
Primoris Services Corp. (NASDAQ:PRIM) traded down 0.25% during midday trading on Tuesday, hitting $20.18. 103,795 shares of the stock were exchanged. Primoris Services Corp. has a 1-year low of $16.13 and a 1-year high of $25.25. The company’s 50 day moving average is $18.87 and its 200-day moving average is $20.62. The stock has a market cap of $1.05 billion, a PE ratio of 26.59 and a beta of 1.66.
Primoris Services Corp. (NASDAQ:PRIM) last announced its earnings results on Thursday, August 4th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.12. The company earned $456.81 million during the quarter, compared to analysts’ expectations of $516.76 million. Primoris Services Corp. had a net margin of 2.03% and a return on equity of 8.14%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. On average, analysts expect that Primoris Services Corp. will post $0.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, September 28th. Primoris Services Corp.’s dividend payout ratio is currently 28.95%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Primoris Services Corp. from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 10th. DA Davidson lowered shares of Primoris Services Corp. from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Finally, Seaport Global Securities raised shares of Primoris Services Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $24.00 in a report on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.80.
Primoris Services Corp. Company Profile
Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. It operates in three segments: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment.
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