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Jacobs (J) P&PS Arm to Design First Inductive Charging Venture
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Jacobs Engineering Group Inc. (J - Free Report) is set to develop and implement an inductive vehicle charging pilot, the first of its kind, in the United States.
Shares of this Dallas, TX-based provider of professional, technical and construction services have gained 2.59% during the trading session on Feb 15, 2022.
Jacobs, being part of a group selected by the Michigan Department of Transportation, will act as the engineering partner for the pilot project. The consortium will be led by Electreon, and NextEnergy will lead stakeholder and partner engagement. Ford Motor Company, DTE Energy and others will also provide support to the project.
In this regard, Jacobs’ People & Places Solutions Americas senior vice president and general manager Ron Williams said, “This innovative pilot project aims to demonstrate efficient vehicle operability to prove the viability of wireless EV charging. Jacobs is committed to delivering decarbonization solutions to address the increasingly critical issue of climate change. This project is just one of the ways Jacobs and our partners are working together to create a more connected, sustainable world."
Jacobs’ work involves project management and design services for the venture. Meanwhile, the group will design and construct a one-mile stretch of stationary wireless EV charging technology in Detroit. Electreon will develop the technology that will enable inductive charging by placing embedded coils under the road pavement and semi-dynamic charging stations at end-point terminals to charge the vehicles while stationary in a queuing or parking lane.
People & Places Solutions or P&PS Unit: A Major Growth Driver
Jacobs’ P&PS segment (accounting for more than 60% of total revenues) serves clients of broad sectors like water, transportation, building, and semiconductors and acts as a major contributor to the business segment. This segment has solid prospects, given its overall higher sales pipeline. Also, both life sciences and electronics customers have moved forward with the previously paused projects, defying the ongoing pandemic situation.
This is evident from the segment’s backlog level that grew 10% year over year at fiscal first quarter-end to $16.93 billion.
Image Source: Zacks Investment Research
Coming to share price performance, although shares of this leading professional, technical, and construction service provider have underperformed the Zacks Engineering - R and D Services industry over the past six months, the share price of Jacobs should continue to maintain positive momentum in the near term, as the company’s solutions are closely aligned with President Biden’s policies and industry trends. Jacobs is also expected to benefit from strong global trends in infrastructure modernization, energy transition, national security and a potential super-cycle in global supply chain investments.
Rising demand for Jacobs’s consulting services for infrastructure, water, environment, space, broadband, cybersecurity and life sciences is expected to drive EPS to $10.00 in fiscal 2025 from $6.29 in fiscal 2021.
Fluor Corporation (FLR - Free Report) — a Zacks Rank #1 company — is gaining from its "Building a Better Future" initiative, which focuses on enhancing the markets outside the traditional oil and gas sector, fair and balanced commercial deals, financial discipline as well as high-performing business culture. It has made significant progress toward strategic goals that comprise the reduction of outstanding debt by 30% and identified ways for more than $150 million in annual cost savings.
Fluor’s earnings for 2021 are expected to grow 143.1%. That said, FLR’s earnings have remained steady over the past 60 days.
Quanta Services, Inc. (PWR - Free Report) , a Zacks Rank #2 (Buy) company, is set to deliver a resilient performance in 2021 and beyond despite a challenging environment. It is benefiting from a three-pronged growth strategy and strong margins from the Electric Power Infrastructure segment. Focus on the base business via supporting long-term programmatic spend of utilities and participating in the development of infrastructure that supports renewables and technology deployments such as 5G as well as electric vehicles will drive growth. It is to be noted that 80-90% of revenues are derived from utility, communications, and a few pipeline and industrial infrastructure services, which remain strong.
Quanta Services’ earnings for 2021 have remained stable over the past 60 days. PWR’s earnings for 2021 are expected to advance 25.4%.
AECOM (ACM - Free Report) — a Zacks Rank #2 company — has been continuously focusing on delivering industry-leading margins and unlocking capital to invest in growth as well as innovation. Also, focus on higher-margin and lower-risk Professional Services businesses bodes well.
AECOM’s earnings for fiscal 2022 are expected to grow 20.6%. That said, ACM’s earnings have increased 1.5% over the past seven days.
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Jacobs (J) P&PS Arm to Design First Inductive Charging Venture
Jacobs Engineering Group Inc. (J - Free Report) is set to develop and implement an inductive vehicle charging pilot, the first of its kind, in the United States.
Shares of this Dallas, TX-based provider of professional, technical and construction services have gained 2.59% during the trading session on Feb 15, 2022.
Jacobs, being part of a group selected by the Michigan Department of Transportation, will act as the engineering partner for the pilot project. The consortium will be led by Electreon, and NextEnergy will lead stakeholder and partner engagement. Ford Motor Company, DTE Energy and others will also provide support to the project.
In this regard, Jacobs’ People & Places Solutions Americas senior vice president and general manager Ron Williams said, “This innovative pilot project aims to demonstrate efficient vehicle operability to prove the viability of wireless EV charging. Jacobs is committed to delivering decarbonization solutions to address the increasingly critical issue of climate change. This project is just one of the ways Jacobs and our partners are working together to create a more connected, sustainable world."
Jacobs’ work involves project management and design services for the venture. Meanwhile, the group will design and construct a one-mile stretch of stationary wireless EV charging technology in Detroit. Electreon will develop the technology that will enable inductive charging by placing embedded coils under the road pavement and semi-dynamic charging stations at end-point terminals to charge the vehicles while stationary in a queuing or parking lane.
People & Places Solutions or P&PS Unit: A Major Growth Driver
Jacobs’ P&PS segment (accounting for more than 60% of total revenues) serves clients of broad sectors like water, transportation, building, and semiconductors and acts as a major contributor to the business segment. This segment has solid prospects, given its overall higher sales pipeline. Also, both life sciences and electronics customers have moved forward with the previously paused projects, defying the ongoing pandemic situation.
This is evident from the segment’s backlog level that grew 10% year over year at fiscal first quarter-end to $16.93 billion.
Image Source: Zacks Investment Research
Coming to share price performance, although shares of this leading professional, technical, and construction service provider have underperformed the Zacks Engineering - R and D Services industry over the past six months, the share price of Jacobs should continue to maintain positive momentum in the near term, as the company’s solutions are closely aligned with President Biden’s policies and industry trends. Jacobs is also expected to benefit from strong global trends in infrastructure modernization, energy transition, national security and a potential super-cycle in global supply chain investments.
Rising demand for Jacobs’s consulting services for infrastructure, water, environment, space, broadband, cybersecurity and life sciences is expected to drive EPS to $10.00 in fiscal 2025 from $6.29 in fiscal 2021.
Zacks Rank & Key Picks
Jacobs currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Fluor Corporation (FLR - Free Report) — a Zacks Rank #1 company — is gaining from its "Building a Better Future" initiative, which focuses on enhancing the markets outside the traditional oil and gas sector, fair and balanced commercial deals, financial discipline as well as high-performing business culture. It has made significant progress toward strategic goals that comprise the reduction of outstanding debt by 30% and identified ways for more than $150 million in annual cost savings.
Fluor’s earnings for 2021 are expected to grow 143.1%. That said, FLR’s earnings have remained steady over the past 60 days.
Quanta Services, Inc. (PWR - Free Report) , a Zacks Rank #2 (Buy) company, is set to deliver a resilient performance in 2021 and beyond despite a challenging environment. It is benefiting from a three-pronged growth strategy and strong margins from the Electric Power Infrastructure segment. Focus on the base business via supporting long-term programmatic spend of utilities and participating in the development of infrastructure that supports renewables and technology deployments such as 5G as well as electric vehicles will drive growth. It is to be noted that 80-90% of revenues are derived from utility, communications, and a few pipeline and industrial infrastructure services, which remain strong.
Quanta Services’ earnings for 2021 have remained stable over the past 60 days. PWR’s earnings for 2021 are expected to advance 25.4%.
AECOM (ACM - Free Report) — a Zacks Rank #2 company — has been continuously focusing on delivering industry-leading margins and unlocking capital to invest in growth as well as innovation. Also, focus on higher-margin and lower-risk Professional Services businesses bodes well.
AECOM’s earnings for fiscal 2022 are expected to grow 20.6%. That said, ACM’s earnings have increased 1.5% over the past seven days.