Venturi Wealth Management LLC Invests $143,000 in Primoris Services Co. (NASDAQ:PRIM)

Venturi Wealth Management LLC bought a new position in shares of Primoris Services Co. (NASDAQ:PRIM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,875 shares of the construction company’s stock, valued at approximately $143,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Primoris Services by 27.3% during the 3rd quarter. Blue Trust Inc. now owns 919 shares of the construction company’s stock worth $53,000 after acquiring an additional 197 shares during the period. TD Private Client Wealth LLC increased its stake in Primoris Services by 24.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,180 shares of the construction company’s stock worth $69,000 after acquiring an additional 230 shares during the period. Virtue Capital Management LLC increased its stake in Primoris Services by 2.1% during the 3rd quarter. Virtue Capital Management LLC now owns 16,392 shares of the construction company’s stock worth $952,000 after acquiring an additional 342 shares during the period. Principal Securities Inc. increased its stake in Primoris Services by 63.2% during the 4th quarter. Principal Securities Inc. now owns 886 shares of the construction company’s stock worth $68,000 after acquiring an additional 343 shares during the period. Finally, USA Financial Formulas bought a new position in Primoris Services during the 4th quarter worth $27,000. Institutional investors own 91.82% of the company’s stock.

Primoris Services Trading Down 2.6 %

NASDAQ PRIM opened at $66.06 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 twelve month low of $37.00 and a twelve month high of $90.86. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 21.87 and a beta of 1.14. The business’s fifty day moving average is $78.32 and its 200 day moving average is $69.38.

Insider Activity at Primoris Services

In related news, Director David Lee King sold 2,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $83.98, for a total transaction of $167,960.00. Following the sale, the director now owns 23,818 shares of the company’s stock, valued at $2,000,235.64. This trade represents a 7.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. KeyCorp assumed coverage on Primoris Services in a research note on Wednesday, December 11th. They set an “overweight” rating and a $96.00 price objective on the stock. UBS Group raised their price objective on Primoris Services from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on Primoris Services from $77.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Guggenheim assumed coverage on Primoris Services in a research note on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price target on the stock. Finally, DA Davidson lifted their price target on Primoris Services from $60.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $91.50.

About Primoris Services

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.