This Infrastructure Stock Is Up 124% This Past Year, and One Fund Dumped Its $38 Million Stake Last Quarter
Key Points
Goodlander Investment Manage exited its position in Primoris during the fourth quarter, selling 275,000 shares.
The quarter-end position value decreased by $37.77 million as a result.
The Primoris stake was previously 14.4% of the fund’s AUM as of the prior quarter.
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On February 17, 2026, Goodlander Investment Management disclosed in a U.S. Securities and Exchange Commission filing that it sold out of Primoris (NYSE:PRIM), an estimated $37.77 million transaction based on last-disclosed position values.
What happened
According to an SEC filing dated February 17, 2026, Goodlander Investment Management, LLC sold all 275,000 shares of Primoris during the fourth quarter of 2025. This move eliminated the fund’s exposure to Primoris, with the net position value dropping by $37.77 million over the quarter.
What else to know
- Top holdings after the filing:
- NYSE:SEI: $44.13 million (16.9% of AUM)
- NYSE:MTZ: $36.95 million (14.1% of AUM)
- NYSE:EME: $36.71 million (14.0% of AUM)
- NYSE:LBRT: $36.00 million (13.8% of AUM)
- NYSE:GEV: $29.41 million (11.2% of AUM)
- As of February 17, 2026, shares of Primoris were priced at $162.38, up 124.2% over the past year and vastly outperforming the S&P 500’s nearly 20% return in the same period.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $8.77 billion |
| Revenue (TTM) | $7.46 billion |
| Net income (TTM) | $277.14 million |
| Price (as of market close February 17, 2026) | $162.38 |
Company snapshot
- Primoris provides construction, fabrication, maintenance, replacement, and engineering services across utilities, energy/renewables, and pipeline segments in the United States and Canada.
- The firm generates revenue through contracted specialty services for infrastructure projects, including installation and maintenance of utility and energy systems, as well as pipeline construction and related facility work.
- It serves natural gas and electric utilities, communications providers, renewable energy firms, petroleum and petrochemical companies, and state departments of transportation.
Primoris is a leading specialty contractor with a diversified portfolio in the engineering and construction sector, operating primarily in North America. The company's strategy centers on delivering essential infrastructure solutions for utilities, energy, and pipeline clients, leveraging its scale and technical expertise.
What this transaction means for investors
After a massive run, it’s not unusual for an investor to seemingly lock in gains. Primoris closed 2025 with revenue of roughly $7.6 billion, up 19% compared to the previous year, with fourth-quarter revenue alone of $1.9 billion, while adjusted EBITDA for the year climbed 22% to $531 million.
In other words, the company is delivering solid growth, but the stock’s surge also changes the risk profile. Shares have climbed more than 120% over the past year, far outpacing the broader market and pushing valuation expectations higher.
The broader portfolio context also helps explain the move. The fund still holds several infrastructure and industrial exposures, including engineering and energy service companies, meaning the exit looks more like portfolio rebalancing than a broad rejection of the theme. Ultimately, Primoris remains tied to a powerful infrastructure spending cycle, but after such a dramatic rally, lofty expectations might be a good opportunity to lock in gains.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends EMCOR Group and GE Vernova. The Motley Fool recommends MasTec. The Motley Fool has a disclosure policy.
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