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AECOM (ACM) to Build Plan for EV Charging Stations' Deployment

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AECOM ACM won a contract from the Arizona Department of Transportation (ADOT) Multimodal Planning Division to develop a plan for the statewide deployment of electric vehicle (EV) charging stations.

The new EV charging stations will be adjacent to state alternative fuel corridors and interstates and comply with Federal National Electric Vehicle Infrastructure (NEVI) guidance. Also, it will educate the public to reduce range anxiety and encourage vehicle purchasers to consider EVs as a viable alternative to gasoline or diesel-powered vehicles.

The scope of this contract may include project management (to support goals and objectives), stakeholder engagement and outreach (to help the public understand opportunities and capture feedback), existing and future conditions analysis, support and guidance for future EV charging infrastructure deployment and federal funding compliance.

Jennifer Aument, chief executive of AECOM’s Global Transportation business, said, “As a leader in emerging electrification technologies, we’re intimately familiar with NEVI guidance and have a deep bench of capabilities to support our clients as they navigate the transportation-energy nexus. We look forward to partnering with ADOT to deliver a data-driven, strategic plan for the siting of EV chargers and assisting the state in receiving significant benefits from federal funding sources.”

Solid Project Execution Aids AECOM

AECOM is a leading solutions provider supporting professional, technical and management solutions for diverse industries across end markets like transportation, facilities, government and environmental, energy and water businesses. The major part of the U.S. government’s broad infrastructural plan is focused on transit and water markets, wherein AECOM enjoys a dominant position.

This leading professional, technical and management solution provider is witnessing a robust pipeline of pursuits across the business. It benefits from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.

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Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past year.

AECOM is banking on strength across core transportation, water and environment markets and a solid backlog. Its focus on Environmental, Social and Governance or ESG-related services and digital initiatives is encouraging.

Zacks Rank & Other Key Picks

AECOM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Primoris Services Corporation PRIM, currently carrying a Zacks Rank #2 (Buy), provides a wide range of construction, fabrication, maintenance, replacement and engineering services.

PRIM’s 2022 earnings are likely to rise 19.4%. The company’s earnings estimates have increased to $2.59 from $2.49 per share over the past 60 days.

KBR, Inc. KBR, currently carrying a Zacks Rank #1, provides scientific, technology and engineering solutions to governments and commercial customers. Its mission-critical government services, high-end and differentiated government business work, strong margin performance, proprietary technology solutions and a significant increase in backlog (particularly in Government Solution) are expected to boost 2022 earnings.

KBR’s 2022 earnings are likely to rise 7.9%. The company has seen a 0.4% upward estimate revision for 2022 earnings in the past 60 days.

Toll Brothers Inc. TOL, currently carrying a Zacks Rank #2, mostly offers luxury homes and its communities are located in prosperous suburban areas with easy access to major cities.

TOL’s expected earnings growth rate for fiscal 2022 is 53.7%. The consensus mark for its fiscal 2022 earnings has moved up to $10.19 per share from $9.87 in the past 60 days.

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