Oliver Luxxe Assets LLC Purchases 16,212 Shares of Primoris Services Co. (NASDAQ:PRIM)

Oliver Luxxe Assets LLC raised its position in shares of Primoris Services Co. (NASDAQ:PRIM) by 112.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,662 shares of the construction company’s stock after purchasing an additional 16,212 shares during the period. Oliver Luxxe Assets LLC owned 0.06% of Primoris Services worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRIM. CWM LLC raised its position in shares of Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company’s stock worth $55,000 after buying an additional 220 shares in the last quarter. Arizona State Retirement System raised its position in shares of Primoris Services by 2.0% in the second quarter. Arizona State Retirement System now owns 14,959 shares of the construction company’s stock worth $746,000 after buying an additional 294 shares in the last quarter. EntryPoint Capital LLC raised its position in shares of Primoris Services by 16.2% in the first quarter. EntryPoint Capital LLC now owns 3,677 shares of the construction company’s stock worth $157,000 after buying an additional 513 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Primoris Services by 8.5% in the first quarter. ProShare Advisors LLC now owns 9,546 shares of the construction company’s stock worth $406,000 after buying an additional 751 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Primoris Services by 9.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,189 shares of the construction company’s stock worth $608,000 after buying an additional 1,036 shares in the last quarter. 91.82% of the stock is owned by institutional investors.

Primoris Services Stock Performance

Shares of PRIM opened at $61.47 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average price is $55.11 and its 200-day moving average price is $51.90. Primoris Services Co. has a 52 week low of $28.96 and a 52 week high of $61.93. The stock has a market cap of $3.30 billion, a P/E ratio of 21.64 and a beta of 1.07.

Primoris Services (NASDAQ:PRIM) last released its quarterly earnings data on Monday, August 5th. The construction company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.39. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.80 EPS. Equities research analysts anticipate that Primoris Services Co. will post 3.33 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were paid a $0.06 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.24 annualized dividend and a dividend yield of 0.39%. Primoris Services’s dividend payout ratio (DPR) is 8.45%.

Insider Transactions at Primoris Services

In other news, Director John P. Schauerman sold 25,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the sale, the director now directly owns 162,281 shares in the company, valued at $8,771,288.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Primoris Services news, Director John P. Schauerman sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total value of $1,351,250.00. Following the completion of the sale, the director now owns 162,281 shares in the company, valued at approximately $8,771,288.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John M. Perisich sold 4,391 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.33, for a total value of $242,954.03. The disclosure for this sale can be found here. Insiders sold 54,391 shares of company stock worth $3,075,454 in the last three months. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. initiated coverage on Primoris Services in a research report on Monday, October 7th. They issued an “overweight” rating and a $71.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Primoris Services presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

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.