Norway Savings Bank raised its stake in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,890 shares of the construction company’s stock after buying an additional 195 shares during the period. Norway Savings Bank’s holdings in Jacobs Engineering Group were worth $375,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Alpha Windward LLC increased its stake in shares of Jacobs Engineering Group by 4.2% in the first quarter. Alpha Windward LLC now owns 8,974 shares of the construction company’s stock valued at $496,000 after buying an additional 360 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Jacobs Engineering Group by 1.0% in the first quarter. Gulf International Bank UK Ltd now owns 38,501 shares of the construction company’s stock valued at $2,128,000 after buying an additional 400 shares during the period. Forte Capital LLC ADV increased its stake in shares of Jacobs Engineering Group by 9.1% in the first quarter. Forte Capital LLC ADV now owns 34,158 shares of the construction company’s stock valued at $1,888,000 after buying an additional 2,845 shares during the period. Creative Planning increased its stake in shares of Jacobs Engineering Group by 96.2% in the first quarter. Creative Planning now owns 17,888 shares of the construction company’s stock valued at $989,000 after buying an additional 8,769 shares during the period. Finally, New England Research & Management Inc. acquired a new stake in shares of Jacobs Engineering Group during the first quarter valued at about $1,037,000. 87.41% of the stock is currently owned by institutional investors.
Shares of Jacobs Engineering Group Inc. (NYSE JEC) traded down 0.19% during mid-day trading on Friday, hitting $52.58. The stock had a trading volume of 1,007,287 shares. The firm has a 50 day moving average price of $53.51 and a 200 day moving average price of $54.82. The firm has a market cap of $6.33 billion, a PE ratio of 27.97 and a beta of 1.52. Jacobs Engineering Group Inc. has a 52-week low of $49.15 and a 52-week high of $63.42.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.79. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Jacobs Engineering Group had a return on equity of 8.67% and a net margin of 2.29%. The company’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. Equities analysts predict that Jacobs Engineering Group Inc. will post $3.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.60 annualized dividend and a yield of 1.14%. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 31.75%.
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A number of brokerages have recently commented on JEC. BidaskClub upgraded Jacobs Engineering Group from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Citigroup Inc. lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research report on Thursday, August 3rd. Citadel Securities lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $62.00 to $66.00 in a research report on Tuesday. Credit Suisse Group reaffirmed a “buy” rating and set a $69.00 target price on shares of Jacobs Engineering Group in a research report on Friday, April 21st. Finally, Robert W. Baird reiterated a “neutral” rating and set a $64.00 price target (up previously from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $61.64.
About Jacobs Engineering Group
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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