Primoris Services Co. (NASDAQ:PRIM) Shares Sold by Nkcfo LLC

Nkcfo LLC cut its position in Primoris Services Co. (NASDAQ:PRIM) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 22,135 shares of the construction company’s stock after selling 960 shares during the period. Primoris Services accounts for approximately 0.7% of Nkcfo LLC’s holdings, making the stock its 26th biggest position. Nkcfo LLC’s holdings in Primoris Services were worth $1,691,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in shares of Primoris Services in the 2nd quarter valued at $286,000. CWM LLC grew its position in Primoris Services by 37.5% during the 3rd quarter. CWM LLC now owns 1,506 shares of the construction company’s stock worth $87,000 after purchasing an additional 411 shares during the last quarter. Creative Planning acquired a new position in Primoris Services in the third quarter valued at $424,000. Blue Trust Inc. raised its holdings 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 last quarter. Finally, Schubert & Co acquired a new stake in shares of Primoris Services during the third quarter worth about $398,000. Institutional investors and hedge funds own 91.82% of the company’s stock.

Primoris Services Stock Performance

Shares of PRIM opened at $73.39 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.61. Primoris Services Co. has a 52-week low of $37.00 and a 52-week high of $90.86. The company has a 50-day simple moving average of $79.23 and a 200-day simple moving average of $68.74. The company has a market capitalization of $3.94 billion, a PE ratio of 22.24 and a beta of 1.14.

Wall Street Analysts Forecast Growth

PRIM has been the subject of several analyst reports. The Goldman Sachs Group upped their price objective on Primoris Services from $51.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased 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. DA Davidson boosted their price objective on shares of Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. UBS Group lifted their target price on shares of Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, KeyCorp started coverage on shares of Primoris Services in a report on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price target for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $91.50.

Insiders Place Their Bets

In related news, Director David Lee King sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 23,818 shares in the company, valued at $2,000,235.64. This represents a 7.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.40% of the stock is currently owned by company insiders.

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.