Primoris Services Corporation (PRIM) Position Cut by Legal & General Group Plc

Legal & General Group Plc cut its stake in shares of Primoris Services Corporation (NASDAQ:PRIM) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,149 shares of the construction company’s stock after selling 191 shares during the period. Legal & General Group Plc’s holdings in Primoris Services Corporation were worth $258,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. RE Advisers Corp raised its position in Primoris Services Corporation by 3.6% in the first quarter. RE Advisers Corp now owns 1,763,815 shares of the construction company’s stock valued at $40,956,000 after buying an additional 60,615 shares during the last quarter. Teachers Advisors LLC raised its position in Primoris Services Corporation by 3.0% in the first quarter. Teachers Advisors LLC now owns 71,710 shares of the construction company’s stock valued at $1,665,000 after buying an additional 2,065 shares during the last quarter. Wellington Management Group LLP raised its position in Primoris Services Corporation by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,670,443 shares of the construction company’s stock valued at $62,008,000 after buying an additional 25,630 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Primoris Services Corporation during the first quarter valued at $234,000. Finally, Coe Capital Management LLC raised its position in Primoris Services Corporation by 2.6% in the first quarter. Coe Capital Management LLC now owns 32,695 shares of the construction company’s stock valued at $759,000 after buying an additional 830 shares during the last quarter. Institutional investors own 70.82% of the company’s stock.

Primoris Services Corporation (NASDAQ:PRIM) opened at 26.01 on Thursday. The stock has a 50 day moving average of $24.88 and a 200 day moving average of $24.13. Primoris Services Corporation has a one year low of $17.21 and a one year high of $29.19. The firm has a market cap of $1.34 billion, a PE ratio of 28.30 and a beta of 1.58.

Primoris Services Corporation (NASDAQ:PRIM) last issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.11. The business had revenue of $631.20 million during the quarter, compared to analyst estimates of $582.82 million. Primoris Services Corporation had a net margin of 2.09% and a return on equity of 11.44%. The business’s revenue was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. On average, equities analysts forecast that Primoris Services Corporation will post $1.18 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 14th. Investors of record on Friday, September 29th will be paid a $0.055 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.85%. Primoris Services Corporation’s dividend payout ratio (DPR) is presently 23.40%.

TRADEMARK VIOLATION NOTICE: This piece was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.tickerreport.com/banking-finance/2800065/primoris-services-corporation-prim-position-cut-by-legal-general-group-plc.html.

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity boosted their price target on shares of Primoris Services Corporation from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. BidaskClub raised shares of Primoris Services Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Zacks Investment Research raised shares of Primoris Services Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Saturday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Primoris Services Corporation presently has a consensus rating of “Hold” and an average target price of $26.40.

About Primoris Services Corporation

Primoris Services Corporation is a holding company. The Company holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Company provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to public utilities, petrochemical companies, energy companies, municipalities, state departments of transportation and other customers.

Want to see what other hedge funds are holding PRIM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Primoris Services Corporation (NASDAQ:PRIM).

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

Receive News & Ratings for Primoris Services Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Primoris Services Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.