Kovitz Investment Group Partners LLC cut its stake in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 5.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 905,660 shares of the construction company’s stock after selling 47,193 shares during the period. Jacobs Engineering Group accounts for approximately 2.6% of Kovitz Investment Group Partners LLC’s holdings, making the stock its 12th biggest holding. Kovitz Investment Group Partners LLC owned approximately 0.64% of Jacobs Engineering Group worth $59,738,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in JEC. Cerebellum GP LLC purchased a new stake in shares of Jacobs Engineering Group during the 4th quarter valued at $127,000. Tower Research Capital LLC TRC purchased a new stake in shares of Jacobs Engineering Group during the 4th quarter valued at $131,000. Jarislowsky Fraser Ltd purchased a new stake in shares of Jacobs Engineering Group during the 3rd quarter valued at $186,000. Virtu Financial LLC purchased a new stake in shares of Jacobs Engineering Group during the 4th quarter valued at $200,000. Finally, Cadence Capital Management LLC purchased a new stake in shares of Jacobs Engineering Group during the 4th quarter valued at $215,000. 82.25% of the stock is owned by institutional investors.
Shares of JEC stock opened at $58.01 on Friday. Jacobs Engineering Group Inc has a 12 month low of $49.31 and a 12 month high of $72.18. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $8,525.78, a price-to-earnings ratio of 17.90, a PEG ratio of 1.12 and a beta of 1.47.
Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. Jacobs Engineering Group had a net margin of 2.30% and a return on equity of 8.59%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. sell-side analysts forecast that Jacobs Engineering Group Inc will post 4.01 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Friday, February 16th were issued a $0.15 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. Jacobs Engineering Group’s dividend payout ratio is currently 18.52%.
Several brokerages have recently issued reports on JEC. Barclays initiated coverage on shares of Jacobs Engineering Group in a research note on Tuesday, December 12th. They set an “overweight” rating and a $75.00 price objective for the company. UBS raised shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, January 29th. Robert W. Baird set a $75.00 price target on shares of Jacobs Engineering Group and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Jefferies Group set a $70.00 price target on shares of Jacobs Engineering Group and gave the stock a “hold” rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $72.00 to $73.00 in a research report on Thursday, March 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $74.62.
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Jacobs Engineering Group Profile
Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.
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