GW&K Investment Management LLC Has $24.61 Million Holdings in Primoris Services Corp (NASDAQ:PRIM)

GW&K Investment Management LLC lessened its holdings in shares of Primoris Services Corp (NASDAQ:PRIM) by 15.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 905,122 shares of the construction company’s stock after selling 170,676 shares during the period. GW&K Investment Management LLC owned 1.76% of Primoris Services worth $24,610,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of Primoris Services by 242.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 163,130 shares of the construction company’s stock valued at $4,800,000 after buying an additional 115,450 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Primoris Services by 36.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 408,131 shares of the construction company’s stock valued at $11,098,000 after buying an additional 108,152 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Primoris Services by 4.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,241,073 shares of the construction company’s stock valued at $65,932,000 after buying an additional 94,279 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Primoris Services by 113.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 175,845 shares of the construction company’s stock valued at $4,385,000 after buying an additional 93,397 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in shares of Primoris Services in the 2nd quarter valued at $2,326,000. 69.79% of the stock is owned by hedge funds and other institutional investors.

Primoris Services Corp (NASDAQ:PRIM) traded down $0.13 on Monday, reaching $24.07. 332,944 shares of the company traded hands, compared to its average volume of 217,587. The company has a market cap of $1,250.00, a PE ratio of 19.41, a P/E/G ratio of 1.78 and a beta of 1.29. Primoris Services Corp has a 1-year low of $21.83 and a 1-year high of $30.00. The company has a quick ratio of 1.41, a current ratio of 1.49 and a debt-to-equity ratio of 0.36.

In other Primoris Services news, Director John P. Schauerman sold 50,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $28.00, for a total transaction of $1,400,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Lee King sold 9,077 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.43, for a total transaction of $248,982.11. Following the sale, the chief executive officer now directly owns 6,242 shares in the company, valued at $171,218.06. The disclosure for this sale can be found here. Insiders sold a total of 63,057 shares of company stock worth $1,759,706 over the last ninety days. 24.00% of the stock is currently owned by insiders.

PRIM has been the subject of several research analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $30.00 price target on shares of Primoris Services in a report on Tuesday, November 7th. Zacks Investment Research raised shares of Primoris Services from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, BidaskClub cut shares of Primoris Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Primoris Services has an average rating of “Hold” and a consensus target price of $31.67.

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Primoris Services Company Profile

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.

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

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