AECOM ACM has inked a contract with NJ TRANSIT to design the infrastructure needed for its Bus Garage Modernization Program. Notably, NJ TRANSIT’s Bus Garage Modernization Program comprises the enhancement of the existing facilities and infrastructure to support accommodation of a zero-emissions fleet.
This infrastructure consulting firm’s shares rose 1.3% during the trading session on May 16 and 2.8% in the after-hour trading session on the same day.
Per the contract, AECOM will facilitate NJ TRANSIT with its engineering services for battery and electric buses at NJ TRANSIT’s Hilton Garage in Maplewood and conduct a survey of current conditions at 16 bus garages statewide.
AECOM will provide conceptual, preliminary, and final engineering and construction assistance to prepare Hilton Garage for a limited deployment of electric buses. The company will conduct a systemwide bus garage survey to detect potential improvements related to facility expansion, roof strengthening for solar systems and equipment, power supply upgrades, and installation of new technologies, including bus charging equipment.
Jennifer Aument, chief executive of AECOM’s global Transportation business, said, “With increased investment in infrastructure that helps realize the social, economic, and environmental benefits of a decarbonized future, we’re proud to support our clients by delivering advanced solutions that accelerate the adoption of zero-emissions technologies.”
Infrastructural Push Aids AECOM
AECOM is a leading solutions provider of 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 is benefiting from solid infrastructure spending in the U.K., Canada, Hong Kong and Australia.
Among major industry bellwethers, AECOM appears to be highly attractive to investors. Shares of the company have outperformed the Zacks Engineering - R and D Services industry in the past six months.
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AECOM has been banking on strength across core transportation, water, and environment markets and a solid backlog. Furthermore, its focus on Environmental, Social and Governance or ESG-related services and digital initiatives are encouraging.
AECOM currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3 Construction Stocks Hogging the Limelight
Other top-ranked stocks, which warrant a look in the Construction sector, include Patrick Industries PATK, Beazer Homes USA BZH and NVR, Inc. NVR, each sporting a Zacks Rank #1.
Patrick Industries is a leading component solutions provider for the RV, marine, and manufactured housing industries. Patrick Industries, like many others in the broader RV and consumer marine space, is amid a massive run for revenue growth that began about a decade ago.
Patrick Industries’ expected earnings growth rate for 2022 is 36.7%. The Zacks Consensus Estimate for current-year earnings has improved 19.7% over the past 30 days.
Beazer Homes designs, builds and sells single-family homes. BZH designs homes to appeal primarily to entry-level and first move-up homebuyers. Beazer Homes USA’s objective is to provide customers with homes that have quality and value. BZH’s subsidiary, Beazer Mortgage, originates the mortgages for the company's homebuyers.
Beazer Homes’ expected earnings growth rate for fiscal 2022 is 48.9%. The Zacks Consensus Estimate for current-year earnings has improved 15% over the past 30 days.
NVR is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings, all of which are primarily constructed on a pre-sold basis. In order to serve homebuilding customers, NVR operates a mortgage banking and title services business. NVR operates in two business segments: Homebuilding and Mortgage Banking.
NVR’s expected earnings growth rate for the current year is 68.4%. The Zacks Consensus Estimate for current-year earnings has improved 20.4% over the past 30 days.
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