Legato Capital Management LLC Has $1.15 Million Stock Position in Primoris Services Co. (NASDAQ:PRIM)

Legato Capital Management LLC raised its stake in Primoris Services Co. (NASDAQ:PRIM) by 8.0% in the 4th quarter, HoldingsChannel reports. The fund owned 15,110 shares of the construction company’s stock after buying an additional 1,122 shares during the quarter. Legato Capital Management LLC’s holdings in Primoris Services were worth $1,154,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. USA Financial Formulas bought a new stake in shares of Primoris Services during the fourth quarter valued at approximately $27,000. Nisa Investment Advisors LLC increased its stake in shares of Primoris Services by 414.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 725 shares of the construction company’s stock valued at $42,000 after buying an additional 584 shares during the period. Blue Trust Inc. raised its holdings 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 purchasing an additional 197 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of Primoris Services in the 3rd quarter valued at about $59,000. Finally, TD Private Client Wealth LLC grew its position in shares of 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 buying an additional 230 shares during the period. 91.82% of the stock is owned by institutional investors.

Primoris Services Stock Down 3.1 %

NASDAQ:PRIM opened at $74.93 on Thursday. Primoris Services Co. has a 1 year low of $36.22 and a 1 year high of $90.86. The stock has a 50-day moving average price of $79.58 and a two-hundred day moving average price of $68.46. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 22.24 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.61.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. KeyCorp initiated coverage on shares of Primoris Services in a report on Wednesday, December 11th. They issued an “overweight” rating and a $96.00 price objective on the stock. Guggenheim assumed coverage on Primoris Services in a research report on Wednesday, January 8th. They issued a “buy” rating and a $102.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Primoris Services from $77.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. The Goldman Sachs Group raised their target price on Primoris Services from $51.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Finally, UBS Group upped their price target on Primoris Services from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average 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.