Oliver Luxxe Assets LLC Has $2.47 Million Stock Holdings in Primoris Services Corporation $PRIM

Oliver Luxxe Assets LLC decreased its position in shares of Primoris Services Corporation (NYSE:PRIM) by 38.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,888 shares of the company’s stock after selling 12,420 shares during the period. Oliver Luxxe Assets LLC’s holdings in Primoris Services were worth $2,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRIM. SBI Securities Co. Ltd. boosted its position in shares of Primoris Services by 224.2% in the third quarter. SBI Securities Co. Ltd. now owns 214 shares of the company’s stock valued at $29,000 after acquiring an additional 148 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Primoris Services during the 3rd quarter valued at $37,000. Blue Bell Private Wealth Management LLC bought a new stake in Primoris Services in the 3rd quarter valued at $37,000. McIlrath & Eck LLC grew its position in Primoris Services by 109.8% in the 3rd quarter. McIlrath & Eck LLC now owns 277 shares of the company’s stock worth $38,000 after purchasing an additional 145 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its position in shares of Primoris Services by 163.1% during the third quarter. Richardson Financial Services Inc. now owns 321 shares of the company’s stock valued at $44,000 after buying an additional 199 shares during the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PRIM. The Goldman Sachs Group upped their price target on Primoris Services from $117.00 to $133.00 and gave the company a “sell” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “buy (b)” rating on shares of Primoris Services in a research report on Tuesday, January 20th. Wall Street Zen lowered Primoris Services from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Mizuho raised their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Finally, DA Davidson set a $180.00 price target on shares of Primoris Services in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Primoris Services currently has a consensus rating of “Moderate Buy” and an average price target of $153.20.

Primoris Services Trading Down 2.9%

NYSE PRIM opened at $138.95 on Friday. The firm has a market capitalization of $7.51 billion, a price-to-earnings ratio of 27.62 and a beta of 1.36. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. Primoris Services Corporation has a 1-year low of $49.10 and a 1-year high of $174.43. The business’s 50 day moving average price is $149.40.

Primoris Services (NYSE:PRIM) last released its quarterly earnings results on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.13. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company earned $1.13 EPS. Primoris Services’s revenue for the quarter was up 6.7% on a year-over-year basis. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.08 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. Primoris Services’s dividend payout ratio (DPR) is 6.36%.

Primoris Services Profile

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. 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. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.