Cooper Creek Partners Management adds Primoris Services Corp (PRIM) to its portfolio

Primoris Services Corp (PRIM) : Cooper Creek Partners Management added new position in Primoris Services Corp during the most recent quarter end. The investment management firm now holds 430,391 shares of Primoris Services Corp which is valued at $10,170,139 , the company said in a statement filed on Nov 14, 2016 with the SEC.Primoris Services Corp makes up approximately 6.63% of Cooper Creek Partners Management’s portfolio.

Other Hedge Funds, Including , Re Advisers Corp boosted its stake in PRIM in the latest quarter, The investment management firm added 151,400 additional shares and now holds a total of 1,703,200 shares of Primoris Services Corp which is valued at $40,246,616. Primoris Services Corp makes up approx 0.65% of Re Advisers Corp’s portfolio.Geode Capital Management boosted its stake in PRIM in the latest quarter, The investment management firm added 4,607 additional shares and now holds a total of 286,439 shares of Primoris Services Corp which is valued at $6,625,334.Blackrock Institutional Trust Company N.a. boosted its stake in PRIM in the latest quarter, The investment management firm added 10,389 additional shares and now holds a total of 955,193 shares of Primoris Services Corp which is valued at $18,731,335.Rhumbline Advisers boosted its stake in PRIM in the latest quarter, The investment management firm added 925 additional shares and now holds a total of 40,995 shares of Primoris Services Corp which is valued at $803,912.Huntington National Bank boosted its stake in PRIM in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 74 shares of Primoris Services Corp which is valued at $1,436.

Primoris Services Corp closed down -0.92 points or -3.87% at $22.88 with 3,88,413 shares getting traded on Monday. Post opening the session at $23.49, the shares hit an intraday low of $22.69 and an intraday high of $23.49 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Primoris Services Corp reported $0.09 EPS for the quarter, missing the analyst consensus estimate by $ -0.17 based on the information available during the earnings call on Nov 8, 2016. Analyst had a consensus of $0.26. The company had revenue of $507.80 million for the quarter, compared to analysts expectations of $536.07 million. The company’s revenue was down -8.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Many Wall Street Analysts have commented on Primoris Services Corp. Company shares were Reiterated by Wunderlich on Nov 9, 2016 to “Buy”, Firm has raised the Price Target to $ 25 from a previous price target of $23 .Company shares were Upgraded by Seaport Global Securities on Aug 25, 2016 to ” Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $20 .

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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