Sigma Planning Corp purchased a new stake in Jacobs Engineering Group Inc (NYSE:JEC) in the 1st quarter, HoldingsChannel reports. The fund purchased 3,337 shares of the construction company’s stock, valued at approximately $251,000.
Several other hedge funds also recently modified their holdings of JEC. Citizens Financial Group Inc RI acquired a new stake in shares of Jacobs Engineering Group in the fourth quarter valued at about $28,000. First Manhattan Co. increased its stake in shares of Jacobs Engineering Group by 115.9% in the first quarter. First Manhattan Co. now owns 462 shares of the construction company’s stock valued at $34,000 after buying an additional 248 shares during the period. CSat Investment Advisory L.P. increased its stake in shares of Jacobs Engineering Group by 86.9% in the fourth quarter. CSat Investment Advisory L.P. now owns 600 shares of the construction company’s stock valued at $35,000 after buying an additional 279 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in shares of Jacobs Engineering Group in the first quarter valued at about $45,000. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in shares of Jacobs Engineering Group in the fourth quarter valued at about $47,000. 88.57% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on JEC. Robert W. Baird set a $83.00 price target on Jacobs Engineering Group and gave the company a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Cowen reaffirmed a “buy” rating and issued a $92.00 price target on shares of Jacobs Engineering Group in a report on Wednesday, April 24th. MKM Partners set a $87.00 price target on Jacobs Engineering Group and gave the stock a “buy” rating in a report on Tuesday, March 19th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $86.00 price target on shares of Jacobs Engineering Group in a report on Wednesday, February 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Jacobs Engineering Group presently has an average rating of “Buy” and a consensus target price of $84.55.
In related news, SVP Michael R. Tyler sold 15,792 shares of Jacobs Engineering Group stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $71.25, for a total transaction of $1,125,180.00. Following the completion of the sale, the senior vice president now owns 30,826 shares of the company’s stock, valued at $2,196,352.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Terence D. Hagen sold 7,000 shares of Jacobs Engineering Group stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $72.50, for a total value of $507,500.00. Following the sale, the chief operating officer now directly owns 62,775 shares of the company’s stock, valued at approximately $4,551,187.50. The disclosure for this sale can be found here. Insiders have sold 46,774 shares of company stock valued at $3,452,856 in the last three months. 0.92% of the stock is owned by corporate insiders.
Jacobs Engineering Group stock opened at $77.50 on Friday. The firm has a market capitalization of $10.49 billion, a PE ratio of 17.34, a P/E/G ratio of 1.62 and a beta of 1.44. Jacobs Engineering Group Inc has a one year low of $55.17 and a one year high of $82.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 1.52.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, May 7th. The construction company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.10. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.13 billion. Jacobs Engineering Group had a return on equity of 11.16% and a net margin of 2.13%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. Analysts anticipate that Jacobs Engineering Group Inc will post 4.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, May 16th. Jacobs Engineering Group’s dividend payout ratio is 15.21%.
Jacobs Engineering Group announced that its board has initiated a stock buyback plan on Thursday, January 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 11.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
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Jacobs Engineering Group Company Profile
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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