ETF Managers Group LLC raised its holdings in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 18.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,249 shares of the construction company’s stock after purchasing an additional 345 shares during the quarter. ETF Managers Group LLC’s holdings in Jacobs Engineering Group were worth $131,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Jacobs Engineering Group by 325.0% in the third quarter. Morgan Stanley now owns 1,147,517 shares of the construction company’s stock valued at $87,784,000 after acquiring an additional 877,529 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Jacobs Engineering Group by 0.8% in the third quarter. Vanguard Group Inc now owns 13,850,966 shares of the construction company’s stock valued at $1,059,598,000 after acquiring an additional 107,375 shares in the last quarter. Cerebellum GP LLC raised its holdings in shares of Jacobs Engineering Group by 70.1% in the fourth quarter. Cerebellum GP LLC now owns 4,178 shares of the construction company’s stock valued at $244,000 after acquiring an additional 1,722 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Jacobs Engineering Group by 15.9% in the third quarter. Credit Suisse AG now owns 223,664 shares of the construction company’s stock valued at $17,110,000 after acquiring an additional 30,676 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in shares of Jacobs Engineering Group in the third quarter valued at about $2,467,000. Institutional investors and hedge funds own 90.43% of the company’s stock.
In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 765 shares of the business’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $65.07, for a total value of $49,778.55. Following the completion of the transaction, the senior vice president now directly owns 27,826 shares in the company, valued at $1,810,637.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael R. Tyler sold 873 shares of the business’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $58.37, for a total value of $50,957.01. Following the sale, the senior vice president now owns 28,935 shares in the company, valued at approximately $1,688,935.95. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.
JEC has been the subject of several recent research reports. Citigroup decreased their price objective on Jacobs Engineering Group from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 21st. MKM Partners decreased their price objective on Jacobs Engineering Group from $84.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, November 21st. Robert W. Baird restated a “buy” rating and issued a $80.00 price objective on shares of Jacobs Engineering Group in a report on Wednesday, November 21st. Seaport Global Securities initiated coverage on Jacobs Engineering Group in a report on Thursday, November 15th. They issued a “buy” rating and a $91.00 price objective for the company. Finally, Barclays restated a “buy” rating and issued a $83.00 price objective on shares of Jacobs Engineering Group in a report on Thursday, October 18th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Jacobs Engineering Group currently has a consensus rating of “Buy” and a consensus price target of $81.64.
Shares of Jacobs Engineering Group stock opened at $65.73 on Tuesday. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.30 and a beta of 1.38. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.46. Jacobs Engineering Group Inc has a one year low of $55.17 and a one year high of $82.24.
Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Wednesday, February 6th. The construction company reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.09. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.91 billion. Jacobs Engineering Group had a net margin of 1.96% and a return on equity of 10.57%. The firm’s revenue was up 72.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. On average, sell-side analysts anticipate that Jacobs Engineering Group Inc will post 5.26 EPS for the current year.
Jacobs Engineering Group announced that its Board of Directors has authorized a share buyback program on Thursday, January 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 11.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This is an increase from Jacobs Engineering Group’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.03%. Jacobs Engineering Group’s payout ratio is currently 13.42%.
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About Jacobs Engineering Group
Jacobs Engineering Group Inc provides technical, professional, and construction services. The company's Aerospace, Technology, Environmental and Nuclear segment offers scientific, engineering, construction, nuclear, environmental, and technical support services to the aerospace, defense, technical, and automotive industries.
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