Hanseatic Management Services Inc. Has $980,000 Stake in Primoris Services Co. (NASDAQ:PRIM)

Hanseatic Management Services Inc. boosted its position in Primoris Services Co. (NASDAQ:PRIM) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,874 shares of the construction company’s stock after purchasing an additional 741 shares during the period. Primoris Services accounts for about 1.4% of Hanseatic Management Services Inc.’s portfolio, making the stock its 25th biggest holding. Hanseatic Management Services Inc.’s holdings in Primoris Services were worth $980,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Primoris Services by 414.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock worth $42,000 after acquiring an additional 584 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Primoris Services by 27.3% in the 3rd quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock valued at $53,000 after purchasing an additional 197 shares during the last quarter. CWM LLC increased its position in shares of Primoris Services by 25.1% during the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after buying an additional 220 shares during the period. FSC Wealth Advisors LLC bought a new position in shares of Primoris Services in the 2nd quarter worth about $70,000. Finally, Canton Hathaway LLC bought a new stake in shares of Primoris Services during the 2nd quarter valued at about $100,000. 91.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. started coverage on Primoris Services in a report on Monday, October 7th. They set an “overweight” rating and a $71.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Primoris Services from $51.00 to $78.00 and gave the company a “neutral” rating in a report on Wednesday. UBS Group raised their target price on Primoris Services from $69.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson boosted their price objective on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.25.

Insiders Place Their Bets

In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $59.25, for a total value of $1,481,250.00. Following the completion of the transaction, the director now owns 137,281 shares in the company, valued at $8,133,899.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Primoris Services news, insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $59.25, for a total value of $1,481,250.00. Following the transaction, the director now directly owns 137,281 shares in the company, valued at $8,133,899.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,391 shares of company stock valued at $3,075,454 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Primoris Services Stock Performance

Shares of Primoris Services stock opened at $77.08 on Thursday. Primoris Services Co. has a 52 week low of $29.14 and a 52 week high of $78.53. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $59.03 and a 200-day moving average price of $54.30. The company has a market cap of $4.14 billion, a PE ratio of 25.52 and a beta of 1.05.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings results on Monday, November 4th. The construction company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.20. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.58 billion. Primoris Services had a return on equity of 15.53% and a net margin of 2.68%. Primoris Services’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS. Equities analysts anticipate that Primoris Services Co. will post 3.33 earnings per share for the current fiscal year.

Primoris Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.08 dividend. This is a positive change from Primoris Services’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.42%. Primoris Services’s dividend payout ratio (DPR) is 7.95%.

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.