Meeder Asset Management Inc. lessened its position in Jacobs Engineering Group Inc (NYSE:JEC) by 7.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,439 shares of the construction company’s stock after selling 947 shares during the quarter. Meeder Asset Management Inc.’s holdings in Jacobs Engineering Group were worth $860,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Brown Advisory Inc. lifted its position in shares of Jacobs Engineering Group by 3.0% in the 4th quarter. Brown Advisory Inc. now owns 48,134 shares of the construction company’s stock valued at $2,814,000 after acquiring an additional 1,400 shares in the last quarter. Morgan Stanley lifted its position in Jacobs Engineering Group by 325.0% in the 3rd quarter. Morgan Stanley now owns 1,147,517 shares of the construction company’s stock worth $87,784,000 after buying an additional 877,529 shares in the last quarter. Vanguard Group Inc lifted its position in Jacobs Engineering Group by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 13,850,966 shares of the construction company’s stock worth $1,059,598,000 after buying an additional 107,375 shares in the last quarter. Cerebellum GP LLC lifted its position in Jacobs Engineering Group by 70.1% in the 4th quarter. Cerebellum GP LLC now owns 4,178 shares of the construction company’s stock worth $244,000 after buying an additional 1,722 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Jacobs Engineering Group by 0.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 79,691 shares of the construction company’s stock worth $4,430,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.
In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 15,792 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $71.25, for a total value of $1,125,180.00. Following the completion of the sale, the senior vice president now owns 30,826 shares in the company, valued at approximately $2,196,352.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Terence D. Hagen sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $72.50, for a total transaction of $507,500.00. Following the completion of the sale, the chief operating officer now owns 62,775 shares of the company’s stock, valued at approximately $4,551,187.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,774 shares of company stock valued at $2,688,356 over the last three months. 0.92% of the stock is currently owned by insiders.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings data on Tuesday, May 7th. The construction company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.10. Jacobs Engineering Group had a net margin of 2.13% and a return on equity of 11.16%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts forecast that Jacobs Engineering Group Inc will post 4.68 EPS for the current year.
Jacobs Engineering Group announced that its Board of Directors has approved a stock repurchase program on Thursday, January 17th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 11.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, May 16th. Jacobs Engineering Group’s dividend payout ratio is currently 15.21%.
A number of equities research analysts have issued reports on JEC shares. Barclays set a $85.00 target price on shares of Jacobs Engineering Group and gave the stock a “buy” rating in a research report on Tuesday, February 19th. Zacks Investment Research lowered shares of Jacobs Engineering Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 10th. ValuEngine upgraded shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. DA Davidson dropped their price target on shares of Jacobs Engineering Group to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 7th. Finally, Argus reiterated a “buy” rating and issued a $68.72 target price (down from $84.00) on shares of Jacobs Engineering Group in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $84.55.
Jacobs Engineering Group 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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