Today’s Market Runner: What’s in Primoris Services Corp After Today’s Huge Increase?

Today's Market Runner: What's in Primoris Services Corp After Today's Huge Increase?

The stock of Primoris Services Corp (NASDAQ:PRIM) is a huge mover today! About 151,912 shares traded hands. Primoris Services Corp (NASDAQ:PRIM) has declined 16.38% since April 5, 2016 and is downtrending. It has underperformed by 18.34% the S&P500.
The move comes after 9 months positive chart setup for the $1.12B company. It was reported on Nov, 8 by Barchart.com. We have $35.30 PT which if reached, will make NASDAQ:PRIM worth $761.60 million more.

Primoris Services Corp (NASDAQ:PRIM) Ratings Coverage

Out of 3 analysts covering Primoris Services (NASDAQ:PRIM), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Primoris Services has been the topic of 3 analyst reports since November 12, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by DA Davidson on Friday, March 11. The stock has “Buy” rating given by Wunderlich on Thursday, November 12. On Thursday, August 25 the stock rating was upgraded by Seaport Global to “Buy”.

According to Zacks Investment Research, “Primoris Services Corporation, through various subsidiaries, operates as one of the largest specialty contractors and infrastructure companies in the United States. The Company provides a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. It operates through three segments: East Construction Services; West Construction Services; and Engineering. Primoris Services Corporation is headquartered in Dallas, Texas.”

Insitutional Activity: The institutional sentiment increased to 1.36 in 2016 Q2. Its up 0.26, from 1.1 in 2016Q1. The ratio increased, as 5 funds sold all Primoris Services Corp shares owned while 40 reduced positions. 20 funds bought stakes while 41 increased positions. They now own 36.48 million shares or 9.16% more from 33.42 million shares in 2016Q1.
Marshall Wace Ltd Liability Partnership has invested 0% of its portfolio in Primoris Services Corp (NASDAQ:PRIM). Sei Invs Com holds 1,189 shares or 0% of its portfolio. California State Teachers Retirement has 0% invested in the company for 84,425 shares. Value Lp has 340,312 shares for 4.14% of their US portfolio. The New York-based Blackrock has invested 0% in Primoris Services Corp (NASDAQ:PRIM). Schwab Charles Inv Incorporated has invested 0% of its portfolio in Primoris Services Corp (NASDAQ:PRIM). Envestnet Asset Mngmt reported 10,457 shares or 0% of all its holdings. Moreover, Parametric Port Associates has 0% invested in Primoris Services Corp (NASDAQ:PRIM) for 127,159 shares. Millennium Mngmt Ltd Llc has invested 0.01% of its portfolio in Primoris Services Corp (NASDAQ:PRIM). Nationwide Fund Advisors accumulated 29,503 shares or 0% of the stock. Comerica Commercial Bank owns 64,910 shares or 0.01% of their US portfolio. Blackrock Group Incorporated Ltd owns 18,421 shares or 0% of their US portfolio. Raymond James And Associate holds 0% or 46,652 shares in its portfolio. First Dallas Secs Inc holds 0.38% of its portfolio in Primoris Services Corp (NASDAQ:PRIM) for 26,318 shares. Rhumbline Advisers reported 40,070 shares or 0% of all its holdings.

Another recent and important Primoris Services Corp (NASDAQ:PRIM) news was published by Marketwired.com which published an article titled: “Primoris Services Corporation Announces 2016 Third Quarter Financial Results” on November 08, 2016.

PRIM Company Profile

Primoris Services Corporation, incorporated on April 24, 2006, is a holding company. The Firm holds various subsidiaries, through which it operates as a specialty contractor and infrastructure company. The Firm provides a range of 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 divisions: the West Construction Services segment (West segment), the East Construction Services segment (East segment) and the Energy segment. The Firm 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. The Firm also constructs mechanical facilities and other structures, including power plants, petrochemical facilities, refineries, water and wastewater treatment facilities and parking structures. It provides specialized process and product engineering services.

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