Primoris Services Corporation (PRIM - Free Report) recently acquired the assets of Florida Gas Contractors (FGC), for approximately $33 million. The buyout will broaden the geographic reach of Primoris’ Utilities and Distribution segment.
Based in Dade City, FL, FGC is a utility contractor specializing in underground natural gas infrastructure. The company generated revenue of $29.5 million in 2016, mainly derived from Master Service Agreements (MSA) with its utility customers.
The acquisition will expand Primoris’ presence in the Florida and Southeast markets. The company anticipates long-term growth opportunities in the utility market.
Notably, FGC will operate as Primoris Distribution Services, part of Primoris’ Utilities and Distribution segment. Its installation, maintenance and upgrade services will assist the company to provide better services to customers.
Primoris foresees plenty of solid prospects with the current business units and also expects acquisition opportunities, especially in the utility and pipeline markets. In addition, benefits from the company’s geography and market diversity, as well as anticipated boom in capital pipeline construction, will bolster revenues.
Share Price Performance
Year to date, Primoris has outperformed the Zacks categorized Building Products and Heavy Construction sub-industry. The company’s shares gained around 2.7%, while the industry incurred 9.6% loss during this period.
Primoris currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the construction sector include Masco Corporation (MAS - Free Report) , Boise Cascade Company (BCC - Free Report) and TopBuild Corp. (BLD - Free Report) . All three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Masco has an average positive earnings surprise of 3.53% for the trailing four quarters. Boise Cascade generated an impressive average positive earnings surprise of 114.74% over the last four quarters, while TopBuild pulled off an average positive earnings surprise of 5.98%.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Primoris Services Corporation (PRIM - Free Report) recently acquired the assets of Florida Gas Contractors (FGC), for approximately $33 million. The buyout will broaden the geographic reach of Primoris’ Utilities and Distribution segment.
Based in Dade City, FL, FGC is a utility contractor specializing in underground natural gas infrastructure. The company generated revenue of $29.5 million in 2016, mainly derived from Master Service Agreements (MSA) with its utility customers.
The acquisition will expand Primoris’ presence in the Florida and Southeast markets. The company anticipates long-term growth opportunities in the utility market.
Notably, FGC will operate as Primoris Distribution Services, part of Primoris’ Utilities and Distribution segment. Its installation, maintenance and upgrade services will assist the company to provide better services to customers.
Primoris foresees plenty of solid prospects with the current business units and also expects acquisition opportunities, especially in the utility and pipeline markets. In addition, benefits from the company’s geography and market diversity, as well as anticipated boom in capital pipeline construction, will bolster revenues.
Share Price Performance
Year to date, Primoris has outperformed the Zacks categorized Building Products and Heavy Construction sub-industry. The company’s shares gained around 2.7%, while the industry incurred 9.6% loss during this period.
Primoris currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the construction sector include Masco Corporation (MAS - Free Report) , Boise Cascade Company (BCC - Free Report) and TopBuild Corp. (BLD - Free Report) . All three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Masco has an average positive earnings surprise of 3.53% for the trailing four quarters. Boise Cascade generated an impressive average positive earnings surprise of 114.74% over the last four quarters, while TopBuild pulled off an average positive earnings surprise of 5.98%.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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