Steven Demetriou, chairman and CEO of Jacobs Engineering Group, told Bloomberg in a video interview aired Thursday that he sees robust funding of state and local government agencies for infrastructure.
He said most of the new governors prioritize infrastructure and funding has been unleashed across several areas such as transportation, airports, water and railways.
He cited the company’s involvement in meeting national priorities and supporting mission-critical areas.
Demetriou mentioned the company’s $3.3B purchase of CH2M and how it transformed its portfolio to focus on infrastructure and technology.
The company also announced a 13 percent increase in dividend, $1B stock buyback and share repurchase of $250M, he told the channel’s "Bloomberg Markets: The Close."
He noted that the company’s first priority is to use the incoming cash to invest in itself especially when it comes to organic growth, technology talent and cited Jacobs’ plans in the next few years.
“Over the next few years, we see ourselves getting back into the M&A market in the right areas to grow our infrastructure and technology business.”