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

Oliver Luxxe Assets LLC lifted its stake in shares of Primoris Services Co. (NASDAQ:PRIM - Free Report) by 112.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 approximately 0.06% of Primoris Services worth $1,781,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRIM. CWM LLC increased its holdings in Primoris Services by 25.1% in the second quarter. CWM LLC now owns 1,095 shares of the construction company's stock valued at $55,000 after purchasing an additional 220 shares during the last quarter. FSC Wealth Advisors LLC acquired a new stake in Primoris Services in the second quarter worth $70,000. Canton Hathaway LLC acquired a new stake in Primoris Services in the second quarter worth $100,000. Innealta Capital LLC acquired a new position in shares of Primoris Services in the 2nd quarter valued at $108,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Primoris Services in the 2nd quarter valued at $119,000. Institutional investors and hedge funds own 91.82% of the company's stock.

Insiders Place Their Bets

In other news, insider John M. Perisich sold 4,391 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John M. Perisich sold 4,391 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.33, for a total value of $242,954.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John P. Schauerman sold 25,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.05, for a total transaction of $1,351,250.00. Following the transaction, the director now owns 162,281 shares in the company, valued at approximately $8,771,288.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,391 shares of company stock valued at $3,075,454 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Primoris Services Stock Down 0.2 %

Shares of PRIM stock traded down $0.15 during trading hours on Monday, hitting $61.32. 398,319 shares of the company were exchanged, compared to its average volume of 549,460. Primoris Services Co. has a 52 week low of $28.96 and a 52 week high of $62.15. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average of $55.37 and a two-hundred day moving average of $52.04. The company has a market capitalization of $3.29 billion, a PE ratio of 21.59 and a beta of 1.07.

Primoris Services (NASDAQ:PRIM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. Primoris Services had a return on equity of 14.81% and a net margin of 2.56%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Analysts anticipate that Primoris Services Co. will post 3.33 earnings per share for the current fiscal year.

Primoris Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Friday, September 27th. Primoris Services's dividend payout ratio (DPR) is currently 8.45%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. began coverage on Primoris Services in a report on Monday, October 7th. They set an "overweight" rating and a $71.00 target price on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus 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.