114,640 Primoris Services Corporation $PRIM Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its stake in Primoris Services Corporation (NYSE:PRIM) by 34.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 452,306 shares of the company’s stock after buying an additional 114,640 shares during the quarter. Vontobel Holding Ltd.’s holdings in Primoris Services were worth $33,706,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Root Financial Partners LLC grew its holdings in shares of Primoris Services by 43.1% during the 1st quarter. Root Financial Partners LLC now owns 229 shares of the company’s stock worth $33,000 after acquiring an additional 69 shares during the period. Keebeck Wealth Management lifted its stake in shares of Primoris Services by 3.5% in the 1st quarter. Keebeck Wealth Management now owns 3,710 shares of the company’s stock valued at $531,000 after purchasing an additional 125 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of Primoris Services by 4.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,552 shares of the company’s stock valued at $508,000 after purchasing an additional 151 shares during the period. West Tower Group LLC boosted its position in shares of Primoris Services by 0.7% during the first quarter. West Tower Group LLC now owns 26,372 shares of the company’s stock valued at $3,772,000 after purchasing an additional 172 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Primoris Services by 5.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,925 shares of the company’s stock valued at $487,000 after purchasing an additional 190 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Mizuho decreased their price objective on Primoris Services from $135.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, June 23rd. Roth Capital restated a “buy” rating and set a $100.00 target price on shares of Primoris Services in a report on Monday, July 20th. Weiss Ratings downgraded shares of Primoris Services from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Oppenheimer started coverage on shares of Primoris Services in a research note on Tuesday, July 7th. They issued an “outperform” rating and a $135.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $99.00 price target on shares of Primoris Services in a research report on Thursday, October 8th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.47.

Primoris Services Stock Down 0.9%

Shares of NYSE PRIM traded down $0.68 during trading on Friday, reaching $73.07. The company had a trading volume of 2,202,464 shares, compared to its average volume of 1,426,735. Primoris Services Corporation has a 12-month low of $65.00 and a 12-month high of $205.50. The stock has a market cap of $3.93 billion, a PE ratio of 28.66 and a beta of 1.44. The business’s 50-day moving average is $77.19 and its 200 day moving average is $102.94. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.47.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.08. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Primoris Services had a return on equity of 9.96% and a net margin of 1.92%. The company’s revenue was down 10.7% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. As a group, equities analysts forecast that Primoris Services Corporation will post 1.77 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Wednesday, September 30th. Primoris Services’s dividend payout ratio (DPR) is currently 12.55%.

About Primoris Services

Primoris Services Corporation is a specialty contractor that provides construction, maintenance and engineering services for critical infrastructure across the United States. The company serves markets including utilities, energy, power delivery, renewable energy, transportation and industrial facilities.

Its services include the construction and maintenance of electric transmission and distribution systems, natural gas and water infrastructure, pipelines, power-generation facilities, solar and renewable-energy projects, and other complex industrial assets.