Zacks Investment Research lowered shares of Primoris Services (NASDAQ:PRIM) from a buy rating to a hold rating in a research note published on Thursday morning.
According to Zacks, “Primoris Services Corporation, through various subsidiaries, operates as one of the largest specialty contractors and infrastructure companies in the United States. The Company provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. It operates through three segments: East Construction Services; West Construction Services; and Engineering. Primoris Services Corporation is headquartered in Dallas, Texas. “
A number of other brokerages also recently weighed in on PRIM. BidaskClub downgraded shares of Primoris Services from a hold rating to a sell rating in a report on Saturday, January 19th. ValuEngine raised shares of Primoris Services from a sell rating to a hold rating in a research note on Thursday, November 8th. Finally, TheStreet downgraded shares of Primoris Services from a b- rating to a c+ rating in a research note on Wednesday, December 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $29.00.
Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. bought a new position in Primoris Services in the 4th quarter valued at approximately $47,000. Quantamental Technologies LLC acquired a new position in Primoris Services in the 4th quarter valued at approximately $80,000. Quantbot Technologies LP increased its position in Primoris Services by 161.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,522 shares of the construction company’s stock valued at $112,000 after acquiring an additional 2,793 shares during the period. Jane Street Group LLC acquired a new position in Primoris Services in the 2nd quarter valued at approximately $202,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Primoris Services in the 3rd quarter valued at approximately $348,000. 77.94% of the stock is owned by institutional investors and hedge funds.
Primoris Services Company Profile
Primoris Services Corporation, a specialty contractor and infrastructure company, provides a range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services in the United States and internationally. It operates through Power, Pipeline, Utilities, and Civil segments.
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