Pentagon Insider: Guess Who Just Won a $950 Million Defense Contract?

The Pentagon announced only a bare half-dozen new defense contracts Monday, yet still managed to spend more than $1.04 billion. Almost all of this money came in the form of just one contract.

Specifically, in the form of a $950 million award to three publicly traded companies —  Jacobs Engineering (NYSE:JEC), Leidos (NYSE:LDOS), and Tetra Tech (NASDAQ:TTEK), and two privately owned firms — MWH Americas and HDR Environmental.

As explained by the Pentagon, these five firms will share work on an indefinite-delivery/indefinite-quantity architect-engineering contract to design and build military construction, military family housing, and building maintenance and upgrades work for the U.S. Air Force worldwide. Out of 83 firms that applied for a place under the contract, only these five firms made the cut — and will share in the near-billion dollars of work to be done.

As you might expect on a day when one single contract sucked all of the air (and dollars) out of the room, there were few other winners for the day. In fact, the only other publicly-traded firm winning any Pentagon money at all Monday was World Fuel Services (NYSE:INT). World Fuel was hired to supply up to $14.5 million worth of “marine gas oil” to the U.S. Army, Navy, Marine Corps and federal civilian agencies through April 30, 2019.

Insider trading notes
Insider transactions reports for two of the companies named above — Tetra Tech and Jacobs Engineering — have been unencouraging of late, with more sales transactions than purchases reported on Form 4 filings over the past three months.

In contrast, both Leidos and World Fuel Services are more intriguing. Leidos has seen 22 insider purchases recorded over the past three months, versus just two sales. Leidos stock insider-bought outweigh shares insider-sold by 21,974 shares.

Similarly, World Fuel insiders have reported nine purchases versus just three sales in the period, and 12,298 more shares bought than sold.

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