CWM Advisors LLC grew its position in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,698 shares of the construction company’s stock after acquiring an additional 865 shares during the quarter. CWM Advisors LLC’s holdings in Jacobs Engineering Group were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc RI purchased a new position in shares of Jacobs Engineering Group during the 4th quarter valued at $28,000. CSat Investment Advisory L.P. lifted its holdings in Jacobs Engineering Group by 86.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 600 shares of the construction company’s stock worth $35,000 after purchasing an additional 279 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new stake in Jacobs Engineering Group during the 4th quarter worth about $47,000. National Pension Service purchased a new stake in Jacobs Engineering Group during the 3rd quarter worth about $164,000. Finally, ETF Managers Group LLC lifted its holdings in Jacobs Engineering Group by 18.1% during the 4th quarter. ETF Managers Group LLC now owns 2,249 shares of the construction company’s stock worth $131,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 88.94% of the company’s stock.
In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 765 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $65.07, for a total value of $49,778.55. Following the completion of the sale, the senior vice president now owns 27,826 shares in the company, valued at approximately $1,810,637.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michael R. Tyler sold 656 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $76.22, for a total value of $50,000.32. Following the completion of the sale, the senior vice president now owns 26,494 shares of the company’s stock, valued at approximately $2,019,372.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,889 shares of company stock worth $2,688,936. 0.92% of the stock is owned by corporate insiders.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Wednesday, February 6th. The construction company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Jacobs Engineering Group had a return on equity of 10.57% and a net margin of 1.96%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $0.77 EPS. Jacobs Engineering Group’s revenue for the quarter was up 72.9% compared to the same quarter last year. As a group, analysts predict that Jacobs Engineering Group Inc will post 5.28 earnings per share for the current fiscal year.
Jacobs Engineering Group announced that its board has authorized a stock repurchase program on Thursday, January 17th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to reacquire up to 11.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
A number of analysts recently issued reports on the company. Cowen set a $82.00 price objective on Jacobs Engineering Group and gave the stock a “buy” rating in a report on Friday, April 12th. Zacks Investment Research cut Jacobs Engineering Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 10th. MKM Partners set a $87.00 target price on Jacobs Engineering Group and gave the stock a “buy” rating in a research note on Tuesday, March 19th. ValuEngine upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Finally, Barclays set a $85.00 target price on Jacobs Engineering Group and gave the stock a “buy” rating in a research note on Tuesday, February 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Jacobs Engineering Group currently has a consensus rating of “Buy” and a consensus price target of $82.34.
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About Jacobs Engineering Group
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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