JPMorgan Chase & Co. trimmed its position in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 34.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 630,593 shares of the construction company’s stock after selling 326,667 shares during the period. JPMorgan Chase & Co. owned 0.45% of Jacobs Engineering Group worth $37,300,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Optimum Investment Advisors acquired a new position in Jacobs Engineering Group during the 1st quarter valued at about $121,000. Tower Research Capital LLC TRC acquired a new position in Jacobs Engineering Group during the 4th quarter valued at about $131,000. Virtu Financial LLC acquired a new position in Jacobs Engineering Group during the 4th quarter valued at about $200,000. Cadence Capital Management LLC acquired a new position in Jacobs Engineering Group during the 4th quarter valued at about $215,000. Finally, Pinnacle Associates Ltd. acquired a new position in Jacobs Engineering Group during the 4th quarter valued at about $217,000. 84.89% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Robert C. Davidson, Jr. sold 700 shares of the stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $65.95, for a total transaction of $46,165.00. Following the completion of the sale, the director now directly owns 28,618 shares of the company’s stock, valued at $1,887,357.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Christopher M.T. Thompson bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were acquired at an average cost of $64.10 per share, with a total value of $256,400.00. Following the completion of the purchase, the director now owns 15,318 shares of the company’s stock, valued at $981,883.80. The disclosure for this purchase can be found here. 0.74% of the stock is owned by corporate insiders.
JEC stock opened at $64.80 on Friday. Jacobs Engineering Group Inc has a 12 month low of $49.31 and a 12 month high of $72.18. The company has a market cap of $9.15 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.49. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.42.
Jacobs Engineering Group (NYSE:JEC) last released its earnings results on Tuesday, May 8th. The construction company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.87 by $0.13. Jacobs Engineering Group had a net margin of 1.97% and a return on equity of 8.76%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 70.9% on a year-over-year basis. equities analysts predict that Jacobs Engineering Group Inc will post 4.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Friday, May 18th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Thursday, May 17th. Jacobs Engineering Group’s dividend payout ratio is presently 18.52%.
JEC has been the subject of a number of analyst reports. Macquarie raised shares of Jacobs Engineering Group from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 8th. Credit Suisse Group reissued a “buy” rating on shares of Jacobs Engineering Group in a research note on Wednesday, February 28th. Goldman Sachs Group raised shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 3rd. Vertical Research raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Finally, Deutsche Bank raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $72.00 to $73.00 in a research note on Thursday, March 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $75.54.
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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