This Infrastructure Stock Is Up 124% This Past Year, and One Fund Dumped Its $38 Million Stake Last Quarter

Company Overview - Primoris is a leading specialty contractor in the engineering and construction sector, primarily operating in North America, focusing on essential infrastructure solutions for utilities, energy, and pipeline clients [6] - The company has a market capitalization of $8.77 billion, with a trailing twelve months (TTM) revenue of $7.46 billion and a net income of $277.14 million [4] Recent Financial Performance - Primoris reported a revenue of approximately $7.6 billion for 2025, representing a 19% increase compared to the previous year, with fourth-quarter revenue of $1.9 billion [7] - Adjusted EBITDA for the year increased by 22% to $531 million [7] Stock Performance and Investor Actions - Shares of Primoris have surged over 120% in the past year, significantly outperforming the S&P 500's nearly 20% return during the same period [8] - Goodlander Investment Management sold all 275,000 shares of Primoris, resulting in a net position value drop of $37.77 million, indicating a potential portfolio rebalancing rather than a rejection of the company [2][10] Market Context - The exit from Primoris by Goodlander Investment Management may reflect a strategy to lock in gains after a substantial stock price increase, while the firm continues to hold several other infrastructure-related investments [8][10] - Primoris remains well-positioned within a strong infrastructure spending cycle, despite the elevated expectations following its stock rally [10]