TD Asset Management Inc. lowered its position in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 7.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,484 shares of the construction company’s stock after selling 3,822 shares during the period. TD Asset Management Inc.’s holdings in Jacobs Engineering Group were worth $2,583,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in JEC. Vanguard Group Inc. raised its stake in Jacobs Engineering Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,786,134 shares of the construction company’s stock worth $651,539,000 after buying an additional 446,045 shares during the last quarter. Primecap Management Co. CA raised its stake in Jacobs Engineering Group by 7.8% in the first quarter. Primecap Management Co. CA now owns 8,258,797 shares of the construction company’s stock worth $456,546,000 after buying an additional 599,550 shares during the last quarter. BlackRock Inc. raised its stake in Jacobs Engineering Group by 2,990.4% in the first quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock worth $436,383,000 after buying an additional 7,638,632 shares during the last quarter. State Street Corp raised its stake in Jacobs Engineering Group by 3.7% in the first quarter. State Street Corp now owns 5,361,210 shares of the construction company’s stock worth $296,379,000 after buying an additional 192,007 shares during the last quarter. Finally, FMR LLC raised its stake in Jacobs Engineering Group by 1.8% in the first quarter. FMR LLC now owns 4,566,833 shares of the construction company’s stock worth $252,455,000 after buying an additional 81,943 shares during the last quarter. 87.94% of the stock is owned by institutional investors and hedge funds.
Jacobs Engineering Group Inc. (JEC) opened at 50.87 on Wednesday. Jacobs Engineering Group Inc. has a 52-week low of $49.15 and a 52-week high of $63.42. The stock has a 50 day moving average of $53.02 and a 200-day moving average of $54.35. The company has a market capitalization of $6.12 billion, a P/E ratio of 27.06 and a beta of 1.52.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.79 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.79. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, equities analysts forecast that Jacobs Engineering Group Inc. will post $3.13 earnings per share 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. This represents a $0.60 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, August 2nd. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 31.75%.
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A number of equities research analysts recently weighed in on JEC shares. Robert W. Baird reaffirmed a “neutral” rating and set a $64.00 price target (up from $62.00) on shares of Jacobs Engineering Group in a report on Friday, May 12th. Citigroup Inc. lowered shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price objective for the company. in a report on Thursday, August 3rd. BidaskClub raised shares of Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Zacks Investment Research raised shares of Jacobs Engineering Group from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $61.00 price objective on shares of Jacobs Engineering Group in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $62.56.
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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