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EL PASO - Jacobs (NYSE:J) has been selected by El Paso Water to provide program management and owner’s representative services for a major infrastructure development program near El Paso International Airport and Fort Bliss, the company announced Tuesday. The engineering firm, with a market capitalization of $15.78 billion, continues to secure significant contracts that support its $12 billion annual revenue.
The multi-phase initiative, projected to cost approximately $200 million, will upgrade water, wastewater, and stormwater systems to serve new development on approximately 4,500 acres of land. The improvements aim to meet growing demand in the city.
"This program is a catalyst for regional growth," said Jacobs Executive Vice President Eva Wood in a press release statement.
El Paso Water Vice President of Operations and Technical Services Gilbert Trejo expressed confidence in Jacobs’ ability to deliver the needed infrastructure to expand and improve water and wastewater services.
The infrastructure program will support development near Fort Bliss, one of the largest military installations in the United States, while enhancing water reliability and wastewater capacity in the region.
Jacobs, ranked No. 1 in Sewer & Waste and No. 2 in Program Management by Engineering News-Record, will lead program planning and delivery of the improvements. The company has previously supported major water infrastructure projects in California, the United Kingdom, and New Zealand.
With approximately $12 billion in annual revenue and a workforce of almost 45,000, Jacobs provides services across multiple sectors including advanced manufacturing, energy, environmental, and water. The company has raised its dividend for 7 consecutive years, currently offering a 0.96% yield, while operating with a moderate debt-to-equity ratio of 0.74. According to InvestingPro analysis, Jacobs is currently trading slightly above its Fair Value with a P/E ratio of 55.5. Investors can access 10+ additional ProTips and comprehensive financial metrics through InvestingPro’s detailed research reports, available for over 1,400 US equities.
In other recent news, Jacobs Engineering Group Inc. reported fourth-quarter earnings that exceeded expectations, with earnings per share coming in 5% above estimates. However, EBITDA was 2% below forecasts, and the company’s backlog reached $23.1 billion, showing a 6% year-over-year growth and surpassing street expectations by 2%. Meanwhile, Goldman Sachs initiated coverage on Jacobs Engineering with a Buy rating and a price target of $158, citing its potential for organic growth and margin expansion. KeyBanc reiterated its Overweight rating with a price target of $170, noting that the company’s fiscal year 2026 guidance aligns with its long-term targets. Despite these positive assessments, Baird downgraded the stock to Neutral due to valuation concerns, reducing its price target to $146. Wells Fargo also lowered its price target to $130, maintaining an Equal Weight rating amid concerns about AI’s impact on the sector. Bernstein SocGen Group maintained its Outperform rating with a $163 price target. Additionally, Baird mentioned a potential merger with WSP Global, estimating a 30% chance for a mostly stock-structured deal.
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