Hutchinson Capital Management CA lifted its stake in Jacobs Engineering Group Inc. (NYSE:JEC) by 5.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 335,553 shares of the construction company’s stock after buying an additional 17,945 shares during the quarter. Jacobs Engineering Group comprises 5.3% of Hutchinson Capital Management CA’s portfolio, making the stock its 7th biggest holding. Hutchinson Capital Management CA owned 0.28% of Jacobs Engineering Group worth $19,553,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. raised its stake in shares of Jacobs Engineering Group by 141.2% in the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after buying an additional 1,200 shares during the period. Advisor Group Inc. raised its stake in shares of Jacobs Engineering Group by 18.8% in the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after buying an additional 339 shares during the period. First Manhattan Co. raised its stake in shares of Jacobs Engineering Group by 1,013.6% in the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock worth $129,000 after buying an additional 2,169 shares during the period. Bridgewater Associates LP bought a new position in shares of Jacobs Engineering Group in the second quarter worth about $207,000. Finally, MPS Loria Financial Planners LLC bought a new position in shares of Jacobs Engineering Group in the second quarter worth about $209,000. 85.82% of the stock is currently owned by hedge funds and other institutional investors.
Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Jacobs Engineering Group had a return on equity of 8.67% and a net margin of 2.29%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. Jacobs Engineering Group’s payout ratio is currently 31.75%.
Several analysts recently issued reports on the company. Citigroup Inc. set a $64.00 target price on Jacobs Engineering Group and gave the stock a “hold” rating in a research report on Friday, October 27th. Jefferies Group LLC reiterated a “hold” rating and set a $61.00 target price on shares of Jacobs Engineering Group in a research report on Friday, August 4th. Zacks Investment Research upgraded Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research report on Tuesday, October 17th. BidaskClub cut Jacobs Engineering Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Robert W. Baird reiterated a “hold” rating and set a $63.00 target price on shares of Jacobs Engineering Group in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Jacobs Engineering Group has an average rating of “Hold” and a consensus target price of $62.56.
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Jacobs Engineering Group Company Profile
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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