Legato Capital Management LLC Purchases 1,122 Shares of Primoris Services Co. (NASDAQ:PRIM)

Legato Capital Management LLC raised its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,110 shares of the construction company’s stock after acquiring an additional 1,122 shares during the period. Legato Capital Management LLC’s holdings in Primoris Services were worth $1,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRIM. USA Financial Formulas bought a new position in Primoris Services during the fourth quarter worth $27,000. Nisa Investment Advisors LLC raised its position in shares of Primoris Services by 414.2% during the third quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock valued at $42,000 after buying an additional 584 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Primoris Services by 27.3% in the third quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock valued at $53,000 after buying an additional 197 shares during the period. Millburn Ridgefield Corp bought a new stake in shares of Primoris Services in the third quarter valued at about $59,000. Finally, TD Private Client Wealth LLC grew its position in Primoris Services by 24.2% during the third quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company’s stock worth $69,000 after buying an additional 230 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Primoris Services

In other news, Director David Lee King sold 2,000 shares of Primoris Services stock in a transaction that occurred on Monday, December 2nd. The shares were 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 owns 23,818 shares in the company, valued at approximately $2,000,235.64. The trade was a 7.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PRIM shares. JPMorgan Chase & Co. upped their price target on Primoris Services from $77.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. KeyCorp began coverage on Primoris Services in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 target price for the company. UBS Group lifted their price target on shares of Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Guggenheim initiated coverage on shares of Primoris Services in a research note on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price objective for the company. Finally, DA Davidson lifted their target price on shares of Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $91.50.

Primoris Services Stock Down 3.1 %

PRIM opened at $74.93 on Thursday. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of 22.24 and a beta of 1.14. 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 firm’s 50-day simple moving average is $79.58 and its 200-day simple moving average is $68.46. Primoris Services Co. has a twelve month low of $36.22 and a twelve month high of $90.86.

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.