Wedge Capital Management L L P NC reduced its position in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 11.9% in the 3rd quarter, Holdings Channel reports. The firm owned 233,367 shares of the construction company’s stock after selling 31,537 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Jacobs Engineering Group were worth $17,853,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC acquired a new stake in Jacobs Engineering Group during the second quarter worth about $102,000. Northwestern Mutual Wealth Management Co. increased its position in Jacobs Engineering Group by 88.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,137 shares of the construction company’s stock worth $136,000 after purchasing an additional 1,004 shares during the last quarter. Trust Department MB Financial Bank N A acquired a new stake in Jacobs Engineering Group during the second quarter worth about $213,000. Sawtooth Solutions LLC acquired a new stake in Jacobs Engineering Group during the second quarter worth about $221,000. Finally, Whittier Trust Co. increased its position in Jacobs Engineering Group by 104.9% during the second quarter. Whittier Trust Co. now owns 4,200 shares of the construction company’s stock worth $224,000 after purchasing an additional 2,150 shares during the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Shares of JEC opened at $75.14 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.11 and a beta of 1.41. Jacobs Engineering Group Inc has a 1 year low of $55.21 and a 1 year high of $78.32.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data 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. The company had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4 billion. Jacobs Engineering Group had a net margin of 2.19% and a return on equity of 9.83%. Jacobs Engineering Group’s revenue was up 65.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. As a group, equities research analysts expect that Jacobs Engineering Group Inc will post 4.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, September 28th were paid a $0.15 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.60 annualized dividend and a yield of 0.80%. Jacobs Engineering Group’s dividend payout ratio is currently 18.52%.
Several equities research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Jacobs Engineering Group from $69.00 to $70.00 and gave the stock a “$66.12” rating in a research report on Monday, July 23rd. UBS Group raised their price objective on shares of Jacobs Engineering Group from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. MKM Partners raised their price objective on shares of Jacobs Engineering Group to $84.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research upgraded shares of Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $87.00 price objective for the company in a research report on Wednesday, October 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $82.00 price objective (up from $73.00) on shares of Jacobs Engineering Group in a research report on Monday, August 6th. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $83.15.
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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