Core Insights - Permian Investment Partners has significantly increased its stake in KBR by purchasing an additional 1.3 million shares, raising its total position value to $150.5 million, which now represents 17% of the fund's U.S. equity AUM [2][10] - KBR's stock price is currently at $42.97, reflecting a 27% decline over the past year, contrasting with the S&P 500's 13% increase during the same period [3] - KBR's latest financial results show revenue of $1.9 billion, with adjusted EBITDA rising 10% to $240 million and adjusted earnings per share increasing 21% to $1.02, indicating strong profitability despite flat revenue growth [11] Company Overview - KBR, Inc. is a global engineering and technology company with a diversified portfolio that includes government and commercial markets, focusing on mission-critical services and sustainable technologies [6][9] - The company generates revenue through contract-based services in government solutions and sustainable technology solutions, serving various government agencies and global clients in sectors such as energy and infrastructure [9] Financial Metrics - KBR's trailing twelve months (TTM) revenue is reported at $8 billion, with a net income of $380 million and a dividend yield of 1.5% [4] - The company's backlog and options total $23.4 billion, providing multi-year revenue visibility [11] Investment Perspective - The increase in KBR's position within Permian's portfolio indicates a strong conviction in the company's long-term potential, aligning with the fund's strategy of favoring capital-light, cash-generative businesses [12]

Group 1 - KBR Inc. is considered one of the most undervalued stocks on the NYSE, with a recent price target adjustment by BofA from $55 to $45 while maintaining a Neutral rating [1] - In Q3 2025, KBR secured several contracts, notably a $2.5 billion contract with NASA, and reported earnings of $1.02 per share, exceeding estimates by $0.07 [2] - Despite contract wins, KBR's quarterly revenue was flat year-over-year at $1.93 billion, reflecting a modest decline of approximately 0.8% and missing estimates by $42.07 million [2] Group 2 - The Sustainable Technology Solutions segment faced challenges due to delays in LNG project development and cancellations of some petrochemical projects [3] - The Readiness and Sustainment segment experienced a significant revenue decline of 22% due to strategic shifts and cost reductions by the Department of Defense [3] - KBR operates through two main segments: Government Solutions and Sustainable Technology Solutions, providing scientific, technology, and engineering solutions globally [4]

Core Insights - Leidos Holdings, Inc. is a technology and engineering firm focused on national security, defense, health, and civil markets, with a market capitalization of approximately $23.8 billion [1] Stock Performance - LDOS shares have outperformed the broader market, gaining 13.2% over the past 52 weeks and 29.5% year-to-date, compared to the S&P 500 Index's gains of 11% and 12.3% respectively [2] - While LDOS has lagged behind the Technology Select Sector SPDR Fund's 17% surge over the past year, it has outpaced XLK's 17.5% increase in 2025 [3] Financial Performance - The company reported record revenues of $4.5 billion for the third quarter, reflecting a 7% year-over-year increase, with non-GAAP EPS of $3.05, up 4% annually [4] - Leidos' total backlog increased by 5% year-over-year, indicating strong demand for its services [4] Strategic Initiatives - The "NorthStar 2030" strategy is focused on growth areas such as national security, mission software, and health services, benefiting from favorable macroeconomic conditions [5] - Analysts project a 14.8% year-over-year growth in EPS for fiscal 2025, expecting it to reach $11.72 [5] Analyst Ratings - The stock has a consensus "Moderate Buy" rating, with 15 analysts covering it: eight recommend "Strong Buy," one "Moderate Buy," and six suggest a "Hold" rating [6] - Jefferies recently raised its price target for LDOS to $230 from $215, maintaining a "Buy" rating after a strong quarterly performance [7]

Core Insights - Access Investment Management LLC increased its stake in John Wiley & Sons by purchasing 66,660 shares for an estimated $2.69 million, reflecting confidence in the company's direction [2][9][10] - Post-transaction, Access Investment Management holds a total of 155,940 shares valued at $6.31 million, which constitutes 1.7% of its reported U.S. equity assets under management (AUM) [1][3] Financial Performance - John Wiley & Sons reported trailing twelve-month (TTM) revenue of $1.67 billion and a net income of $97.30 million, with a dividend yield of 3.7% [4][10] - As of November 3, 2025, the share price was $37.47, which is down 24.0% over the past year, underperforming the S&P 500 by 41.4 percentage points [3][4] Company Overview - John Wiley & Sons is a global research and education publisher with a diversified portfolio that includes journals, books, and digital learning solutions, serving academic, professional, and corporate customers [5][6] - The company generates revenue through subscriptions, licensing of journals, direct sales of content, and online program management services [8][10] Strategic Direction - The company is focusing on its core business model, which relies on peer-reviewed journals and recurring contracts, while also exploring new revenue streams through AI licensing agreements [10][11] - John Wiley & Sons is undergoing a restructuring process to streamline operations and build a steadier foundation for growth, emphasizing disciplined execution for future success [10][11]

Company Overview - Jacobs Solutions Inc. has a market cap of $17.6 billion and is a global leader in professional services, including consulting, technical, scientific, and project delivery solutions [1] - The company operates across various sectors such as advanced manufacturing, cities and places, energy, environmental, life sciences, transportation, and water [1][2] Market Position - Jacobs Solutions is classified as a large-cap stock, emphasizing its size, influence, and dominance in the engineering and construction industry [2] - The company's diverse service offerings and focus on innovation position it well to tackle complex global challenges for its clients [2] Stock Performance - Jacobs shares have decreased by 1.8% from their 52-week high of $152.40, reached on August 13 [3] - Over the past three months, Jacobs stock has increased by 17.5%, outperforming the iShares U.S. Infrastructure ETF's (IFRA) rise of 8.9% [3] - Year-to-date, Jacobs shares have surged by 12%, and over the past 52 weeks, they have climbed by 23.4%, compared to IFRA's YTD gains of 12.5% and 12.9% returns over the last year [4] Financial Performance - On August 5, Jacobs reported third-quarter earnings, with revenue increasing by 5.1% year-over-year to $3 billion, exceeding analyst expectations of $2.2 billion [5] - The adjusted EPS rose by 24.6% to $1.62, surpassing Wall Street estimates [5] - The company also reported a 14% increase in its backlog, reaching a record high, indicating strong forward demand [5] Future Guidance - Following the positive earnings results, Jacobs management raised its fiscal 2025 guidance for the second time, now expecting adjusted net revenue growth of approximately 5.5% year-over-year and adjusted EPS in the range of $6.00 to $6.10 [6] - Key competitor TopBuild Corp. has shown resilience with a 34.5% return on a year-to-date basis, although it lagged behind Jacobs with a 5.2% gain over the past 52 weeks [6]