Jackson Creek Investment Advisors LLC Acquires Shares of 30,362 Primoris Services Co. (NASDAQ:PRIM)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Primoris Services Co. (NASDAQ:PRIM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,362 shares of the construction company’s stock, valued at approximately $1,008,000.

Other hedge funds have also added to or reduced their stakes in the company. Van Berkom & Associates Inc. boosted its position in Primoris Services by 5.9% during the 3rd quarter. Van Berkom & Associates Inc. now owns 2,124,148 shares of the construction company’s stock valued at $69,523,000 after acquiring an additional 117,414 shares in the last quarter. FMR LLC raised its stake in shares of Primoris Services by 1.1% during the 3rd quarter. FMR LLC now owns 1,722,707 shares of the construction company’s stock worth $56,384,000 after acquiring an additional 18,872 shares in the last quarter. Northern Trust Corp lifted its position in Primoris Services by 1.4% during the third quarter. Northern Trust Corp now owns 599,941 shares of the construction company’s stock valued at $19,636,000 after acquiring an additional 8,082 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Primoris Services by 9.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 593,600 shares of the construction company’s stock valued at $19,429,000 after acquiring an additional 49,437 shares in the last quarter. Finally, Bruni J V & Co. Co. increased its position in shares of Primoris Services by 0.5% during the fourth quarter. Bruni J V & Co. Co. now owns 585,009 shares of the construction company’s stock worth $19,428,000 after purchasing an additional 2,764 shares in the last quarter. 91.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John P. Schauerman sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $40.61, for a total transaction of $812,200.00. Following the completion of the sale, the director now directly owns 237,281 shares in the company, valued at $9,635,981.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Travis L. Stricker sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $40.00, for a total value of $300,000.00. Following the transaction, the chief accounting officer now directly owns 9,068 shares of the company’s stock, valued at $362,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John P. Schauerman sold 20,000 shares of Primoris Services stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $40.61, for a total value of $812,200.00. Following the transaction, the director now owns 237,281 shares in the company, valued at approximately $9,635,981.41. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock worth $2,040,125. Corporate insiders own 1.30% of the company’s stock.

Primoris Services Stock Performance

Shares of NASDAQ:PRIM traded down $0.86 during trading on Tuesday, hitting $46.60. 383,450 shares of the stock traded hands, compared to its average volume of 470,417. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 20.46 and a beta of 1.19. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average price of $42.29 and a two-hundred day moving average price of $35.87. Primoris Services Co. has a 52-week low of $23.48 and a 52-week high of $47.87.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, February 26th. The construction company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.21. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Primoris Services had a net margin of 2.21% and a return on equity of 13.20%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. As a group, equities analysts predict that Primoris Services Co. will post 2.61 EPS for the current year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, March 27th. Primoris Services’s payout ratio is 10.34%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group upped their price target on shares of Primoris Services from $44.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, April 5th. StockNews.com lowered shares of Primoris Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. DA Davidson upped their price objective on shares of Primoris Services from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group raised their target price on shares of Primoris Services from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th.

Primoris Services 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.