CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases 41,000 Shares of Primoris Services Corporation $PRIM

Key Points

• CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in Primoris Services by 47.7%, buying 41,000 shares to hold 127,000 shares worth about $15.77 million, making PRIM its 27th largest holding and ~0.9% of the firm's portfolio.
• Primoris beat quarterly estimates with $1.08 EPS vs. $0.95 expected and $1.86B revenue vs. $1.82B, set FY2026 guidance of 5.80–6.00 EPS, and trades near its 52-week high with a market cap of about $9.0B and a P/E around 33.
• Analysts have a consensus of "Moderate Buy" on PRIM with an average price target of $156.31, where 11 analysts rate it Buy, five Hold and one Sell.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Primoris Services Corporation (NYSE:PRIM - Free Report) by 47.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,000 shares of the company's stock after acquiring an additional 41,000 shares during the period. Primoris Services accounts for about 0.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 27th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.24% of Primoris Services worth $15,766,000 at the end of the most recent reporting period.

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

Primoris Services Stock Performance

Shares of NYSE PRIM opened at $166.29 on Friday. The business has a 50 day moving average price of $150.93. Primoris Services Corporation has a 52-week low of $53.13 and a 52-week high of $174.43. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $9.02 billion, a P/E ratio of 33.06 and a beta of 1.38.

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

Primoris Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Primoris Services's dividend payout ratio is presently 6.36%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PRIM shares. Mizuho boosted their price objective on shares of Primoris Services from $128.00 to $143.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Wall Street Zen downgraded shares of Primoris Services from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Zacks Research cut Primoris Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 31st. DA Davidson set a $180.00 price target on Primoris Services in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised their price objective on Primoris Services from $165.00 to $171.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $156.31.

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.

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