Jacobs Engineering Group Inc (JEC) Receives Consensus Recommendation of “Buy” from Analysts

Jacobs Engineering Group Inc (NYSE:JEC) has been given a consensus rating of “Buy” by the seventeen ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $83.06.

JEC has been the topic of a number of research reports. Robert W. Baird reiterated a “buy” rating and set a $73.00 target price on shares of Jacobs Engineering Group in a research report on Monday, January 7th. Cowen initiated coverage on shares of Jacobs Engineering Group in a report on Monday, January 28th. They issued an “outperform” rating and a $77.00 price objective on the stock. Zacks Investment Research upgraded shares of Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a report on Wednesday, January 30th. Seaport Global Securities restated a “buy” rating and issued a $86.00 price objective on shares of Jacobs Engineering Group in a report on Wednesday, February 6th. Finally, DA Davidson cut their price objective on shares of Jacobs Engineering Group to $86.00 and set a “buy” rating on the stock in a report on Thursday, February 7th.

In other news, SVP Michael R. Tyler sold 873 shares of the stock in a transaction on Friday, January 4th. The shares were sold at an average price of $58.37, for a total transaction of $50,957.01. Following the completion of the sale, the senior vice president now owns 28,935 shares of the company’s stock, valued at $1,688,935.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael R. Tyler sold 765 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $65.07, for a total transaction of $49,778.55. Following the sale, the senior vice president now directly owns 27,826 shares of the company’s stock, valued at approximately $1,810,637.82. The disclosure for this sale can be found here. Insiders sold 37,106 shares of company stock valued at $2,689,892 in the last ninety days. Insiders own 0.92% of the company’s stock.

Several hedge funds have recently modified their holdings of JEC. Lunia Capital LP increased its position in shares of Jacobs Engineering Group by 9,466.9% during the fourth quarter. Lunia Capital LP now owns 9,932,705 shares of the construction company’s stock worth $9,933,000 after acquiring an additional 9,828,881 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Jacobs Engineering Group by 5,218.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,093,344 shares of the construction company’s stock worth $104,000 after purchasing an additional 5,978,776 shares during the last quarter. CI Investments Inc. acquired a new position in Jacobs Engineering Group during the fourth quarter worth $248,993,000. Morgan Stanley boosted its holdings in Jacobs Engineering Group by 325.0% during the third quarter. Morgan Stanley now owns 1,147,517 shares of the construction company’s stock worth $87,784,000 after purchasing an additional 877,529 shares during the last quarter. Finally, FMR LLC boosted its holdings in Jacobs Engineering Group by 18.2% during the fourth quarter. FMR LLC now owns 5,092,571 shares of the construction company’s stock worth $297,711,000 after purchasing an additional 782,724 shares during the last quarter. 88.94% of the stock is owned by institutional investors.

Shares of JEC stock traded down $0.24 during trading hours on Thursday, reaching $76.04. 37,677 shares of the company were exchanged, compared to its average volume of 1,049,512. Jacobs Engineering Group has a fifty-two week low of $55.17 and a fifty-two week high of $82.24. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.43 and a beta of 1.45. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.46.

Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Wednesday, February 6th. The construction company reported $1.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.09. Jacobs Engineering Group had a net margin of 1.96% and a return on equity of 10.57%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the business earned $0.77 earnings per share. Jacobs Engineering Group’s quarterly revenue was up 72.9% on a year-over-year basis. On average, equities research analysts forecast that Jacobs Engineering Group will post 5.32 earnings per share for the current fiscal year.

Jacobs Engineering Group announced that its Board of Directors has approved a stock buyback plan on Thursday, January 17th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 11.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, February 14th. This is an increase from Jacobs Engineering Group’s previous quarterly dividend of $0.15. Jacobs Engineering Group’s dividend payout ratio is presently 15.21%.

Jacobs Engineering Group Company Profile

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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Analyst Recommendations for Jacobs Engineering Group (NYSE:JEC)

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