Jacobs (J) to Support Hertfordshire’s Infrastructure Upgrade

Jacobs Solutions Inc. (J – Free Report) has been selected by Hertfordshire County Council to provide highways and environmental services. The company will offer innovative and sustainable solutions to upgrade the highway network in Hertfordshire, U.K. This initiative supports Hertfordshire County Council’s vision to enhance the economy, environmental stewardship and social equity.

Per the deal, Jacobs will work with Hertfordshire County Council and its supply chain to provide program and asset management and technical support for highways and environmental services. The project aims to protect and maximize the value of the council’s $10 billion (£8 billion) assets. The team includes PA Consulting, Tetra Tech, Tony Gee and Brightly, a Siemens company focusing on sustainability and social value. PA Consulting’s Global Innovation and Technology Centre in Royston will play a key role in developing future transport and highway services.

The project is expected to commence in October with an initial contract term of five years. Optional extensions could stretch it to 14 years, valued at $22 million (£17 million) per annum.

The move aims to foster a culture of innovative collaboration, striving to realize a vision of a cleaner, healthier Hertfordshire while also bolstering the growth of local small and medium-sized enterprises, suppliers, and workforce skills. Leveraging J’s robust program management capabilities alongside its global specialists and cutting-edge data solutions, this partnership seeks to deliver more resilient and effective services to Hertfordshire’s residents and businesses, positively impacting over a million people.

Solid Backlog Level: A Boon    

Jacobs’ efficient project execution has increased the demand for its consulting services in various sectors, including infrastructure, water, environment, space, broadband, cybersecurity and life sciences. The strong performance in the recent quarters is reflected through its ongoing contract.

At the fiscal second-quarter end, the company reported a backlog of $29.4 billion, up 2% year over year. This reflects persistent solid demand for Jacobs’ consulting services. Of this backlog, People & Places Solutions’ backlog was $17.93 billion compared with $17.56 billion in the year-ago period. The backlog in the Critical Mission Solutions segment was $8.45 billion, up from $8.14 billion a year ago.

J’s shares have gained 13.3% in the past six months compared with the Zacks Technology Services industry’s 24.4% growth. Although the stock has underperformed the industry, its earnings per share (EPS) estimates for the fiscal 2024 reflect 10.8% year-over-year growth.

Zacks Rank & Stocks to Consider

Currently, Jacobs carries a Zacks Rank #4 (Sell).

Here are some better-ranked stocks in the same space:

AppLovin Corporation (APP – Free Report) currently sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

APP delivered a trailing four-quarter earnings surprise of 60.9%, on average. The Zacks Consensus Estimate for APP’s 2024 sales and EPS indicates growth of 31.7% and 202%, respectively, from the prior-year levels. Shares of APP have gained 231.8% in the past year.

Duolingo, Inc. (DUOL – Free Report) currently sports a Zacks Rank of 1. DUOL’s shares have gained 25.3% in the past year.

DUOL delivered a trailing four-quarter earnings surprise of 115.2%, on average. The Zacks Consensus Estimate for DUOL’s 2024 sales and EPS indicates growth of 37.8% and 397.1%, respectively, from the prior-year levels.

SPX Technologies, Inc. (SPXC – Free Report) flaunts a Zacks Rank of 1. SPXC has a trailing four-quarter earnings surprise of 13.9%, on average. The stock has surged 88.6% in the past year.

The Zacks Consensus Estimate for SPXC’s 2024 sales and EPS indicates 14.7% and 24.4% increase from the year-ago period’s reported levels, respectively.

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