Tyers Asset Management LLC reduced its stake in Jacobs Engineering Group Inc (NYSE:JEC) by 4.4% during the second quarter, Holdings Channel.com reports. The fund owned 5,720 shares of the construction company’s stock after selling 264 shares during the quarter. Tyers Asset Management LLC’s holdings in Jacobs Engineering Group were worth $483,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in JEC. Arcadia Investment Management Corp MI purchased a new stake in Jacobs Engineering Group during the second quarter valued at approximately $25,000. Hanson & Doremus Investment Management acquired a new stake in Jacobs Engineering Group during the second quarter valued at $26,000. Sandy Spring Bank grew its position in Jacobs Engineering Group by 100.0% during the first quarter. Sandy Spring Bank now owns 400 shares of the construction company’s stock valued at $30,000 after buying an additional 200 shares during the period. Weaver Consulting Group acquired a new stake in shares of Jacobs Engineering Group in the first quarter valued at about $32,000. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Jacobs Engineering Group in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.
NYSE:JEC traded up $1.24 during trading hours on Friday, reaching $91.62. The company had a trading volume of 27,719 shares, compared to its average volume of 930,102. The stock has a 50-day moving average of $85.77 and a two-hundred day moving average of $79.93. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $12.19 billion, a PE ratio of 20.52, a PEG ratio of 1.69 and a beta of 1.37. Jacobs Engineering Group Inc has a one year low of $55.17 and a one year high of $93.93.
Jacobs Engineering Group (NYSE:JEC) last released its earnings results on Monday, August 5th. The construction company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.15. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.10 billion. Jacobs Engineering Group had a return on equity of 11.11% and a net margin of 5.06%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 earnings per share. As a group, sell-side analysts expect that Jacobs Engineering Group Inc will post 4.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were given a $0.17 dividend. The ex-dividend date was Thursday, July 25th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.74%. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 15.21%.
A number of brokerages have commented on JEC. Zacks Investment Research raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Friday, August 16th. Credit Suisse Group upped their target price on shares of Jacobs Engineering Group from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. KeyCorp upped their price target on shares of Jacobs Engineering Group from $86.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. ValuEngine upgraded shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. Finally, DA Davidson upped their price target on shares of Jacobs Engineering Group to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $87.81.
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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