OppenheimerFunds Inc. Sells 7,895 Shares of Jacobs Engineering Group Inc (JEC)

OppenheimerFunds Inc. reduced its holdings in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 34.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,978 shares of the construction company’s stock after selling 7,895 shares during the period. OppenheimerFunds Inc.’s holdings in Jacobs Engineering Group were worth $886,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GSA Capital Partners LLP grew its position in Jacobs Engineering Group by 82.1% during the first quarter. GSA Capital Partners LLP now owns 27,948 shares of the construction company’s stock valued at $1,653,000 after acquiring an additional 12,598 shares during the last quarter. Stifel Financial Corp grew its position in Jacobs Engineering Group by 41.2% during the first quarter. Stifel Financial Corp now owns 21,303 shares of the construction company’s stock valued at $1,260,000 after acquiring an additional 6,216 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Jacobs Engineering Group during the first quarter valued at approximately $118,000. Hsbc Holdings PLC grew its position in Jacobs Engineering Group by 58.9% during the first quarter. Hsbc Holdings PLC now owns 356,497 shares of the construction company’s stock valued at $21,087,000 after acquiring an additional 132,126 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Jacobs Engineering Group by 4.0% during the first quarter. BNP Paribas Arbitrage SA now owns 58,549 shares of the construction company’s stock valued at $3,463,000 after acquiring an additional 2,229 shares during the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

NYSE:JEC opened at $64.80 on Friday. The firm has a market capitalization of $9.15 billion, a P/E ratio of 18.23, a P/E/G ratio of 1.05 and a beta of 1.49. Jacobs Engineering Group Inc has a twelve month low of $49.31 and a twelve month high of $72.18. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.42.

Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Tuesday, May 8th. The construction company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.13. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.60 billion. Jacobs Engineering Group had a net margin of 1.97% and a return on equity of 8.76%. The firm’s revenue for the quarter was up 70.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. analysts predict that Jacobs Engineering Group Inc will post 4.26 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, May 18th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, May 17th. Jacobs Engineering Group’s dividend payout ratio is currently 18.52%.

JEC has been the topic of several recent analyst reports. Credit Suisse Group restated a “buy” rating on shares of Jacobs Engineering Group in a report on Wednesday, February 28th. Goldman Sachs Group upgraded shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating in a report on Tuesday, April 3rd. UBS Group set a $86.00 target price on shares of Jacobs Engineering Group and gave the stock a “buy” rating in a report on Thursday, March 29th. Deutsche Bank upgraded shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $72.00 to $73.00 in a report on Thursday, March 29th. Finally, MKM Partners upgraded shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Jacobs Engineering Group has an average rating of “Buy” and a consensus price target of $75.54.

In other news, Director Christopher M.T. Thompson acquired 4,000 shares of the stock in a transaction on Tuesday, May 22nd. The stock was acquired at an average price of $64.10 per share, with a total value of $256,400.00. Following the completion of the transaction, the director now owns 15,318 shares of the company’s stock, valued at approximately $981,883.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert C. Davidson, Jr. sold 700 shares of the firm’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $65.95, for a total value of $46,165.00. Following the transaction, the director now directly owns 28,618 shares of the company’s stock, valued at approximately $1,887,357.10. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

Jacobs Engineering Group Profile

Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.

Want to see what other hedge funds are holding JEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jacobs Engineering Group Inc (NYSE:JEC).

Institutional Ownership by Quarter for Jacobs Engineering Group (NYSE:JEC)

Receive News & Ratings for Jacobs Engineering Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Engineering Group and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply