Eaton Corporation plc ETN entered into a deal with the City of Georgetown, TX, for turnkey electrical engineering services, power distribution, control and protection equipment to support the construction of its new South Lake Water Treatment Plant. The contract is estimated to be worth around $6 million.
Eaton has a track record of collaborating with the city to maintain smooth operations of its water treatment facility. The company is leveraging its engineering expertise and market-leading power management solutions to allow the City of Georgetown to concentrate on its primary project goal of providing people with clean drinking water.
Benefits of the Move
Eaton is assisting its customers in overcoming the world’s most urgent power management challenges. It is doing so by capitalizing on the global growth trends of electrification and digitalization.
The water treatment plant, whose construction is scheduled to be completed in 2026, will process more than 44 million gallons of water per day, doubling the local capacity for the expanding neighborhood. The project is completely funded by the City of Georgetown’s water customers.
The new power system will support reliable electrical service for a secondary control facility, process control labs and administrative spaces, in addition to powering the new water treatment plant.
Price Performance
In the past six months, shares of Eaton have risen 23.3% compared with the industry’s 11.1% growth.
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Zacks Rank & Other Stocks to Consider
Eaton currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the same industry are Zurn Elkay Water Solutions Co. ZWS, sporting Zacks Rank #1 (Strong Buy), and A.O. Smith Corporation AOS and Enersys ENS, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
ZWS’s long-term (three- to five-year) earnings growth rate is 15.01%. The company delivered an average earnings surprise of 9.4% in the last four quarters.
AOS’ long-term earnings growth rate is 9%. It delivered an average earnings surprise of 10.5% in the last four quarters.
ENS’ long-term earnings growth rate is 14%. It delivered an average earnings surprise of 10.3% in the last four quarters.
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Eaton Corporation, PLC (ETN) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
Enersys (ENS) : Free Stock Analysis Report
Zurn Elkay Water Solutions Cor (ZWS) : Free Stock Analysis Report