Primoris Services Co. (NASDAQ:PRIM) Holdings Decreased by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. reduced its stake in shares of Primoris Services Co. (NASDAQ:PRIM) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,362 shares of the construction company’s stock after selling 631 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Primoris Services were worth $1,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Congress Asset Management Co. bought a new stake in Primoris Services in the fourth quarter worth about $48,851,000. Summit Partners Public Asset Management LLC raised its position in Primoris Services by 80.6% in the third quarter. Summit Partners Public Asset Management LLC now owns 839,853 shares of the construction company’s stock worth $48,779,000 after acquiring an additional 374,926 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Primoris Services by 549.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 246,949 shares of the construction company’s stock worth $14,343,000 after purchasing an additional 208,920 shares in the last quarter. Yaupon Capital Management LP increased its stake in Primoris Services by 28.4% in the 3rd quarter. Yaupon Capital Management LP now owns 699,817 shares of the construction company’s stock worth $40,645,000 after purchasing an additional 154,627 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Primoris Services by 17.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 607,010 shares of the construction company’s stock worth $35,255,000 after purchasing an additional 91,235 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PRIM has been the topic of a number of analyst reports. DA Davidson lifted their price target on Primoris Services from $60.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. KeyCorp began coverage on Primoris Services in a report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price target for the company. The Goldman Sachs Group boosted their target price on Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Guggenheim assumed coverage on Primoris Services in a report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Primoris Services from $77.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $91.50.

Insider Buying and Selling at Primoris Services

In other Primoris Services news, Director David Lee King sold 2,000 shares of Primoris Services stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $83.98, for a total value of $167,960.00. Following the completion of the transaction, the director now directly owns 23,818 shares of the company’s stock, valued at $2,000,235.64. The trade was a 7.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.40% of the company’s stock.

Primoris Services Stock Down 1.5 %

NASDAQ:PRIM opened at $73.39 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market cap of $3.94 billion, a PE ratio of 22.24 and a beta of 1.14. Primoris Services Co. has a 52-week low of $37.00 and a 52-week high of $90.86. The stock has a 50-day simple moving average of $79.23 and a 200 day simple moving average of $68.83.

Primoris Services Company Profile

Primoris Services Corporation, a specialty contractor company, provides a range of specialty construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. The company operates through Utilities and Energy/Renewables segments. 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.