11 Best Engineering Stocks to Invest in Now

8. Primoris Services Corporation (NYSE:PRIM)

Number of Hedge Fund Holders: 42

Primoris Services Corporation (NYSE:PRIM) delivers infrastructure engineering and construction services. It installs and maintains utility systems and provides EPC solutions for the energy sector, which includes renewables and petrochemicals. Its expertise extends to fabrication and replacement services, which support a range of infrastructure projects.

The company’s Renewables segment saw revenue approach $2 billion in 2024. This growth was driven by the strong demand for solar EPC, battery storage, and O&M services. The segment’s Q4 bookings reached nearly $900 million, which contributed to a record-high backlog of $3.1 billion. Ancillary solar businesses, which include battery storage and O&M, now contribute ~10% of Renewables revenue.

Primoris Services Corporation (NYSE:PRIM) is expanding its team and customer base to meet the sustained high demand for its renewable energy solutions. While gross margins for the Renewables segment declined slightly to 11% in 2024 due to lower pipeline activity year-over-year, the overall growth trajectory remained positive. The company is actively managing potential challenges related to tariffs and regulatory changes through close customer communication.