Value Holdings Lp buys $6.9 Million stake in Primoris Services Corp (PRIM)

Primoris Services Corp (PRIM) : Value Holdings Lp scooped up 2,000 additional shares in Primoris Services Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 332,350 shares of Primoris Services Corp which is valued at $6.9 Million.Primoris Services Corp makes up approximately 4.54% of Value Holdings Lp’s portfolio.

Other Hedge Funds, Including , Cortina Asset Management boosted its stake in PRIM in the latest quarter, The investment management firm added 77,073 additional shares and now holds a total of 345,472 shares of Primoris Services Corp which is valued at $7.2 Million. Primoris Services Corp makes up approx 0.33% of Cortina Asset Management’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in PRIM in the latest quarter, The investment management firm added 42,811 additional shares and now holds a total of 979,153 shares of Primoris Services Corp which is valued at $20.4 Million.Blackrock Investment Management boosted its stake in PRIM in the latest quarter, The investment management firm added 5,120 additional shares and now holds a total of 138,913 shares of Primoris Services Corp which is valued at $2.9 Million.Blackrock Advisors boosted its stake in PRIM in the latest quarter, The investment management firm added 1,636 additional shares and now holds a total of 17,974 shares of Primoris Services Corp which is valued at $375,117. Hwg Holdings Lp added PRIM to its portfolio by purchasing 78,938 company shares during the most recent quarter which is valued at $1.8 Million. Primoris Services Corp makes up approx 1.62% of Hwg Holdings Lp’s portfolio.

Primoris Services Corp opened for trading at $20.82 and hit $21.38 on the upside on Friday, eventually ending the session at $21.36, with a gain of 3.19% or 0.66 points. The heightened volatility saw the trading volume jump to 1,41,272 shares. Company has a market cap of $1,105,850 M.

On the company’s financial health, Primoris Services Corp reported $0.05 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.06. The company had revenue of $430.40 million for the quarter, compared to analysts expectations of $424.75 million. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

Many Wall Street Analysts have commented on Primoris Services Corp. Canaccord Genuity Initiated Primoris Services Corp on Apr 12, 2016 to “Hold”, Price Target of the shares are set at $24.

Primoris Services Corporation is a holding company. Through its subsidiaries the Company operates as a specialty construction and infrastructure company. It provides construction fabrication maintenance replacement water and wastewater and engineering services to public utilities petrochemical companies energy companies municipalities state departments of transportation and other customers. It operates in three segments: the West Construction Services segment (West segment) the East Construction Services segment (East segment) and the Energy segment. It installs replaces repairs and rehabilitates natural gas refined product water and wastewater pipeline systems; large diameter gas and liquid pipeline facilities; and heavy civil projects earthwork and site development. It constructs mechanical facilities and other structures including power plants petrochemical facilities refineries water and wastewater treatment facilities and parking structures.

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