Core Viewpoint - Ningbo Construction (601789.SH) announced that its subsidiary, Ningbo Municipal Engineering Construction Group Co., Ltd., has signed a construction contract with Ningbo Urban Underground Space Investment Co., Ltd. for the South Ring Road comprehensive utility tunnel project, with a contract value of approximately 451.4 million yuan [1] Group 1 - The joint venture consists of Ningbo Municipal Engineering Construction Group and China Railway Fourth Engineering Group [1] - The signed contract price is 451,396,398 yuan, which translates to approximately 451.4 million yuan [1] - The bid floating rate for the project is -9.63% [1]

Core Viewpoint - Ningbo Construction (601789.SH) announced that its subsidiary, Ningbo Municipal Engineering Construction Group Co., Ltd., has signed a construction contract for the South Ring Road comprehensive utility tunnel project with a total contract value of approximately 451.4 million yuan, reflecting a bid fluctuation rate of -9.63% [1] Group 1 - The joint venture between Ningbo Municipal Engineering and China Railway Fourth Group has secured a contract with Ningbo Urban Underground Space Investment Co., Ltd. [1] - The project involves the construction of the South Ring Road (Lianfeng Middle Road - Century Avenue) comprehensive utility tunnel, specifically the second bid section [1] - The signed contract price is 451,396,398 yuan, which is equivalent to approximately 451.4 million yuan [1]

文科股份公告，公司、中铁十九局集团第三工程有限公司及苏交科集团股份有限公司组成的联合体近日 收到潮州市潮安区信和建筑工程有限公司发来的《中标通知书》，确定为潮州市潮安区新风路绿化提升 工程项目设计施工总承包（第二次）的中标单位。中标价为6301.8万元，中标工期为210日历天。 ...

宁波建工（601789）(601789.SH)发布公告，公司控股子公司宁波市政工程建设集团股份有限公司(简 称"市政集团")与中铁四局集团有限公司(简称"中铁四局")组成的联合体于近日与招标人宁波城市地下空 间投资有限公司签订了《建设工程施工合同》，工程名称：环城南路(联丰中路-世纪大道)综合管廊工程 (施工)Ⅱ标段，签约合同价(含税)4.51亿元，中标浮动率：-9.63%。 ...

11月27日，城市更新与运营市场营销演讲比赛顺利举办，9名参赛选手同台竞技，围绕琴澳合作区更新 样本、城中村改造启示、土地整备统筹等主题，以语言为桥、以实践为基，为城市更新与运营的发展注 入鲜活思路。专业评审团从主题契合度、战略深度等五维度综合打分，最终评选一等奖、二等奖、三等 奖各1名。 两场竞赛覆盖营销策划、造价管控、项目运营等关键领域，与公司常态化开展的青马工程培训一脉相 承，构成"以赛育才、以训赋能"的人才培养体系。公司始终将青年人才培养置于战略高度，青马工程通 过专家授课夯实理论根基、现场研学锤炼实践本领、竞赛比拼激发奋进活力，技能竞赛则聚焦专业实操 打磨硬功夫，二者协同发力，全方位提升青年精神素养与业务能力。下一步，中建四局土木公司将持续 完善人才培育长效机制，推动竞赛成果与培训实效深度转化，凝聚青年实干力量，在城市更新与工程建 设赛道上书写 "精诚善建 精彩四海" 的高质量发展新篇章。 6月27日，"精诚・筑福杯"竞赛在深圳开赛，聚焦"大商务"管理与价值创造核心目标，设置团队赛与个 人赛两大组别。5支参赛团队围绕"全过程价值创造"核心，展示其在"目标成本分解、三优化一创新、五 策划创效、成本精益 ...

As filed with the U.S. Securities and Exchange Commission on December 19, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Legato Merger Corp. IV (Exact name of registrant as specified in its charter) Cayman Islands 6770 98-1880768 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Legato Merger Corp. IV 777 Third Avenue, 37 ...

Industry Overview - Global infrastructure spending is expected to remain strong through year-end 2025, driven by aging assets, energy transition mandates, grid resiliency needs, and data-center capacity expansion [1] - The infrastructure cycle now encompasses not only traditional roads and bridges but also transmission, distribution, electrification, water, and mission-critical facilities [1][9] United States Infrastructure - The Infrastructure Investment and Jobs Act (IIJA) allocates approximately $350 billion for federal highway programs from fiscal 2022 to 2026, providing visibility into public works spending [2] - Grid modernization is being recognized as a capital "super-cycle," with significant multi-year spending plans linked to reliability and load growth from electrification and data centers [2] European Infrastructure - European policymakers are prioritizing faster approvals for grid projects to enhance competitiveness, with Germany's construction industry anticipating a recovery in civil works driven by a substantial infrastructure investment plan [3] - The Central Association of the German Construction Industry (ZDB) forecasts a slight real increase in sector turnover of 0.6% this year, followed by a 2.5% surge in 2026 [3] Company Highlights - **Jacobs Solutions (J)** is leveraging its engineering and program-management capabilities, with a record backlog and rising demand in public infrastructure, data centers, and advanced manufacturing [4] - **Dycom Industries (DY)** is benefiting from fiber deployment and wireless programs, with a record backlog and a focus on digital infrastructure build-out expected to ramp significantly starting in 2026 [5][6] - **Sterling Infrastructure (STRL)** is successfully pivoting towards higher-margin infrastructure markets, particularly in E-Infrastructure Solutions, with strong backlog growth and visibility extending into 2026 [10][11] - **MasTec (MTZ)** offers a diversified infrastructure platform, with strong execution in communications and power delivery, and significant capital commitments expected to ramp in 2026 [13][14] - **EMCOR Group (EME)** is noted for its margin resilience and expanding exposure to data centers, with record performance obligations driven by network and data center projects [16][18] - **Quanta Services (PWR)** is positioned at the center of a capital-intensive infrastructure cycle, with record backlog driven by investments in transmission, generation, and electrification [20][21] Stock Performance - Dycom stock has increased by 101.6% year-to-date, with EPS estimates for fiscal 2026 and 2027 rising significantly [7] - Sterling stock has gained 89.4% year-to-date, with EPS estimates for 2026 also showing notable growth [12] - MasTec stock has risen by 61.9% year-to-date, with EPS estimates reflecting a 27.3% growth [15] - EMCOR stock has increased by 37.5% year-to-date, with EPS estimates indicating an 8.6% growth [19] - Quanta stock has gained 37.9% year-to-date, with EPS estimates showing a 16.9% growth [22]

Core Insights - U.S. construction activity is entering a durable expansion phase driven by federal infrastructure spending, grid modernization, energy transition projects, and data-center development [2][4] - Companies like Sterling Infrastructure, MasTec, EMCOR, and Jacobs Solutions are positioned to benefit from this momentum due to their strong backlogs and operational capabilities [3][22] Industry Overview - The Infrastructure Investment and Jobs Act (IIJA) allocates approximately $350 billion for federal highway programs and up to $108 billion for public transportation programs from fiscal 2022 to 2026, supporting steady demand for engineering and construction services [2] - The shift from authorization to actual awards in federal infrastructure funding is creating sustained demand for engineering-led contractors, particularly in complex, multi-year projects [4] Company Highlights Sterling Infrastructure - Achieved 32% year-over-year revenue growth and 58% adjusted EPS growth to $3.48 in Q3 2025, with a total signed backlog of $2.6 billion, a 64% increase year-over-year [6][7] - Data-center site development is the primary growth driver, with over 125% year-over-year growth in data-center revenue [7] - Stock has gained 75% in the past year, with a Zacks Consensus Estimate for 2026 EPS increasing to $11.95, indicating 14.6% growth [9] MasTec - Reported record quarterly revenue of nearly $4 billion in Q3 2025, up 22% year-over-year, with an 18-month backlog of $16.8 billion, a 21% increase [10][11] - Adjusted diluted EPS climbed nearly 48% year-over-year, with strong visibility heading into 2026 due to broad-based demand across energy and infrastructure markets [12] - Stock has gained 58.1% in the past year, with a Zacks Consensus Estimate for 2026 EPS increasing to $8.12, indicating 27.3% growth [13] EMCOR - Posted record revenues of $4.3 billion in Q3 2025, up 16.4% year-over-year, with remaining performance obligations (RPOs) reaching $12.6 billion, nearly 29% higher than a year ago [14][15] - Strong operating cash flow and disciplined acquisitions enhance EMCOR's investment profile, entering 2026 with a robust setup [16] - Stock has gained 28.7% in the past year, with a Zacks Consensus Estimate for 2026 EPS increasing to $27.41, indicating 8.6% growth [17] Jacobs Solutions - Exited fiscal 2025 with a record consolidated backlog of $23.1 billion, up 5.6% year-over-year, supported by a book-to-bill ratio of 1.1x [18] - Adjusted EPS rose nearly 28% year-over-year, with management guiding for mid-teens adjusted EPS growth in fiscal 2026 [20] - Stock has slipped 1.1% in the past year, but the Zacks Consensus Estimate for fiscal 2026 EPS has increased to $7.06, indicating 15.4% growth [21]

Industry Overview - U.S. construction activity is entering a durable expansion phase driven by federal infrastructure spending, grid modernization, energy transition projects, and data-center development [1] - The Infrastructure Investment and Jobs Act (IIJA) allocates approximately $350 billion for federal highway programs and up to $108 billion for public transportation programs from fiscal 2022 to 2026 [1] Company Performance - Sterling Infrastructure reported a 32% revenue growth and a 64% increase in backlog, primarily due to data-center demand [8][10] - MasTec's 18-month backlog reached $16.8 billion, with a more than 100% increase in pipeline infrastructure backlog, and a 22% year-over-year revenue growth [13][14] - EMCOR achieved record revenues of $4.3 billion, a 16.4% increase year over year, with remaining performance obligations (RPOs) rising to $12.6 billion, nearly 29% higher than the previous year [17][18] - Jacobs ended fiscal 2025 with a record consolidated backlog of $23.1 billion, a 5.6% year-over-year increase, and reported nearly 28% growth in adjusted EPS [21][22] Backlog and Financial Indicators - Backlog growth and book-to-bill ratios above 1.0x are critical indicators of forward momentum for construction firms [4] - Sterling Infrastructure's total signed backlog reached $2.6 billion, with E-Infrastructure Solutions backlog nearly doubling to $1.8 billion [10] - MasTec's backlog surged by 21% year over year, reflecting broad-based demand across energy and infrastructure markets [14] - Jacobs' trailing 12-month book-to-bill ratio was 1.1x, indicating strong demand across various infrastructure segments [21] Market Outlook - The sustained demand for engineering-led contractors is driven by multi-year, technically complex projects that are less sensitive to short-term economic volatility [3] - Companies like Sterling Infrastructure, MasTec, EMCOR, and Jacobs are well-positioned to benefit from ongoing infrastructure investments, suggesting structural momentum rather than cyclical [25]

Core Viewpoint - AECOM has been awarded a position on the U.S. GSA OASIS+ contract, enhancing its capacity to support critical government programs [1] Group 1: Contract Award - The OASIS+ contract allows AECOM to provide integrated support across various services including architectural and engineering design, environmental compliance and remediation, and advisory services [1]