Springbank Value Partners Lp buys $2,355,994 stake in Primoris Services Corp (PRIM)

Primoris Services Corp (PRIM) : Springbank Value Partners Lp scooped up 3,000 additional shares in Primoris Services Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 129,950 shares of Primoris Services Corp which is valued at $2,355,994.Primoris Services Corp makes up approximately 3.88% of Springbank Value Partners Lp’s portfolio.

Other Hedge Funds, Including , Anchor Capital Advisors boosted its stake in PRIM in the latest quarter, The investment management firm added 346 additional shares and now holds a total of 47,903 shares of Primoris Services Corp which is valued at $868,481. Primoris Services Corp makes up approx 0.02% of Anchor Capital Advisors’s portfolio.Msi Financial Services Inc reduced its stake in PRIM by selling 116 shares or 94.31% in the most recent quarter. The Hedge Fund company now holds 7 shares of PRIM which is valued at $128.Lasalle Street Capital Management boosted its stake in PRIM in the latest quarter, The investment management firm added 327 additional shares and now holds a total of 19,791 shares of Primoris Services Corp which is valued at $371,873. Primoris Services Corp makes up approx 0.34% of Lasalle Street Capital Management’s portfolio.Lasalle Street Capital Management boosted its stake in PRIM in the latest quarter, The investment management firm added 327 additional shares and now holds a total of 19,791 shares of Primoris Services Corp which is valued at $371,873. Primoris Services Corp makes up approx 0.34% of Lasalle Street Capital Management’s portfolio.

Primoris Services Corp closed down -0.13 points or -0.72% at $18 with 18,87,999 shares getting traded on Thursday. Post opening the session at $17.14, the shares hit an intraday low of $16.1278 and an intraday high of $18.23 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Primoris Services Corp reported $0.10 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.22. The company had revenue of $456.81 million for the quarter, compared to analysts expectations of $513.45 million. The company’s revenue was down -5.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.07 EPS.

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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