Silver Oak Securities Incorporated Invests $423,000 in Primoris Services Corporation $PRIM

Silver Oak Securities Incorporated bought a new position in Primoris Services Corporation (NYSE:PRIM) during the fourth quarter, HoldingsChannel reports. The fund bought 3,401 shares of the company’s stock, valued at approximately $423,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PRIM. Uncommon Cents Investing LLC grew its holdings in Primoris Services by 2.1% during the third quarter. Uncommon Cents Investing LLC now owns 3,900 shares of the company’s stock valued at $536,000 after purchasing an additional 80 shares during the period. Assetmark Inc. raised its stake in shares of Primoris Services by 9.7% in the third quarter. Assetmark Inc. now owns 953 shares of the company’s stock worth $131,000 after buying an additional 84 shares during the period. NewEdge Advisors LLC raised its stake in shares of Primoris Services by 5.5% in the third quarter. NewEdge Advisors LLC now owns 2,071 shares of the company’s stock worth $284,000 after buying an additional 108 shares during the period. Oliver Luxxe Assets LLC lifted its position in shares of Primoris Services by 0.4% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 32,308 shares of the company’s stock valued at $4,437,000 after buying an additional 124 shares in the last quarter. Finally, Ethic Inc. grew its stake in shares of Primoris Services by 4.3% during the 3rd quarter. Ethic Inc. now owns 3,163 shares of the company’s stock valued at $434,000 after acquiring an additional 131 shares during the period. 91.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Primoris Services from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Wells Fargo & Company upped their price target on shares of Primoris Services from $138.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 26th. Guggenheim increased their price objective on shares of Primoris Services from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Research downgraded shares of Primoris Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Primoris Services from $165.00 to $171.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $154.53.

Primoris Services Price Performance

PRIM stock opened at $148.23 on Friday. The company has a quick ratio of 1.26, a current 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 has a 50 day simple moving average of $149.31. The company has a market cap of $8.04 billion, a P/E ratio of 29.47 and a beta of 1.38.

Primoris Services (NYSE:PRIM) last released its quarterly earnings data on Monday, February 23rd. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.13. Primoris Services had a net margin of 3.63% and a return on equity of 18.67%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter last year, the business posted $1.13 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS.

Primoris Services Announces Dividend

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

Primoris Services Company 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.