Primoris Renewable Energy, part of Primoris Services Corporation’s (PRIM - Free Report) Power, Industrial and Engineering segment has won a more than $40-million new solar award. Per the deal, Primoris will build a solar electric generating facility in West Texas.
The scope of work comprises the construction of a 178 MWac (236 MWdc) solar electric generating facility, spread across more than 1,500 acres and utilizing nearly 685,000 solar modules. It will be the largest solar facility in Texas, which will provide electricity in more than 50,000 homes in Austin during the summer.
Per the terms of the contract, Primoris will perform electrical, mechanical, civil work and undertake limited procurement and site control required to build the facility. To complete the project, Primoris Renewable Energy will unite with Primoris Industrial and Primoris I&M.
Zacks Rank & Other Key Picks
Primoris carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the same space include Dycom Industries, Inc. (DY - Free Report) , EMCOR Group, Inc. (EME - Free Report) and Armstrong World Industries, Inc. (AWI - Free Report) . All three stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Dycom Industries has a long-term earnings growth rate of 12.3%. The company’s shares have rallied 22.8%, over the past year.
EMCOR has a long-term earnings growth rate of 15%. The company’s shares have returned 29.3%.
Armstrong World has a long-term earnings growth rate of 16.8%. The stock has gained 20% in a year’s time.
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