Sterling Capital Management LLC Sells 20,786 Shares of Jacobs Engineering Group Inc (JEC)

Sterling Capital Management LLC decreased its holdings in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 2.9% in the 3rd quarter, Holdings Channel reports. The firm owned 706,816 shares of the construction company’s stock after selling 20,786 shares during the quarter. Sterling Capital Management LLC’s holdings in Jacobs Engineering Group were worth $54,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in JEC. Point72 Asset Management L.P. increased its stake in Jacobs Engineering Group by 658.9% during the second quarter. Point72 Asset Management L.P. now owns 710,289 shares of the construction company’s stock valued at $45,096,000 after purchasing an additional 616,689 shares during the last quarter. Marshall Wace LLP bought a new stake in Jacobs Engineering Group during the second quarter valued at $38,937,000. Millennium Management LLC increased its stake in Jacobs Engineering Group by 66.1% during the second quarter. Millennium Management LLC now owns 1,332,939 shares of the construction company’s stock valued at $84,628,000 after purchasing an additional 530,536 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Jacobs Engineering Group by 328.7% during the second quarter. Assenagon Asset Management S.A. now owns 656,055 shares of the construction company’s stock valued at $41,653,000 after purchasing an additional 503,004 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Jacobs Engineering Group by 70.1% during the second quarter. American Century Companies Inc. now owns 1,167,192 shares of the construction company’s stock valued at $74,105,000 after purchasing an additional 481,062 shares during the last quarter. Hedge funds and other institutional investors own 86.47% of the company’s stock.

JEC has been the subject of several recent research reports. Zacks Investment Research lowered shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Citigroup upgraded shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Monday, October 22nd. Jefferies Financial Group reiterated a “hold” rating and set a $74.00 target price on shares of Jacobs Engineering Group in a research note on Tuesday, August 7th. DA Davidson upgraded shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Monday, August 6th. Finally, ValuEngine upgraded shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Two research 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. The company presently has an average rating of “Buy” and an average price target of $83.15.

Shares of JEC opened at $75.14 on Friday. Jacobs Engineering Group Inc has a 1 year low of $55.21 and a 1 year high of $78.32. The firm has a market cap of $10.66 billion, a PE ratio of 23.19, a PEG ratio of 1.11 and a beta of 1.41. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.45 and a quick ratio of 1.45.

Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Monday, August 6th. The construction company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.14. Jacobs Engineering Group had a net margin of 2.19% and a return on equity of 9.83%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 65.3% compared to the same quarter last year. On average, analysts anticipate that Jacobs Engineering Group Inc will post 4.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, September 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Thursday, September 27th. Jacobs Engineering Group’s dividend payout ratio (DPR) is 18.52%.

About Jacobs Engineering Group

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.

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

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