Jacobs Engineering Portfolio Transformation Should Lead to More Stable Returns
We maintain our $84 fair value estimate for Jacobs Engineering after the no-moat engineering and construction firm posted a solid second quarter, delivering 7.7% year-over-year revenue growth and over 120 basis points of improvement in operating margins. Both segments kept their momentum, as aerospace, technology & nuclear sales grew nearly 15% year over year, while buildings, infrastructure & advanced facilities revenue increased by over 4% from the year-ago period. Management remains o...Jacobs Engineering Group provides services including consulting, technical, scientific and project delivery for the government and private sector. The company's lines of business are: Critical Mission Solutions, which provides cybersecurity, data analytics, software application development, enterprise and mission information technology, systems integration and other technical consulting solutions to government agencies as well as aerospace, automotive and telecom customers; and People and Places Solutions, which provides end-to-end solutions for its clients' projects, whether connected mobility, water, smart cities, manufacturing or the environment.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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