Chesapeake Asset Management LLC Reduces Position in Jacobs Engineering Group Inc (JEC)

Chesapeake Asset Management LLC reduced its position in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 38.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,422 shares of the construction company’s stock after selling 14,595 shares during the period. Jacobs Engineering Group makes up about 3.0% of Chesapeake Asset Management LLC’s portfolio, making the stock its 14th biggest holding. Chesapeake Asset Management LLC’s holdings in Jacobs Engineering Group were worth $1,761,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Citizens Financial Group Inc RI bought a new position in Jacobs Engineering Group during the 4th quarter worth $28,000. Sandy Spring Bank increased its stake in Jacobs Engineering Group by 100.0% during the 1st quarter. Sandy Spring Bank now owns 400 shares of the construction company’s stock worth $30,000 after acquiring an additional 200 shares during the period. First Manhattan Co. increased its stake in Jacobs Engineering Group by 115.9% during the 1st quarter. First Manhattan Co. now owns 462 shares of the construction company’s stock worth $34,000 after acquiring an additional 248 shares during the period. CSat Investment Advisory L.P. increased its stake 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 acquiring an additional 279 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Jacobs Engineering Group during the 1st quarter worth $45,000. 95.23% of the stock is owned by institutional investors and hedge funds.

Shares of JEC opened at $75.20 on Friday. Jacobs Engineering Group Inc has a 52-week low of $55.17 and a 52-week high of $82.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market capitalization of $10.58 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.63 and a beta of 1.44.

Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings results on Tuesday, May 7th. The construction company reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.10. Jacobs Engineering Group had a return on equity of 11.16% and a net margin of 2.13%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the company posted $1.00 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts expect that Jacobs Engineering Group Inc will post 4.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $0.68 annualized dividend and a dividend yield of 0.90%. Jacobs Engineering Group’s payout ratio is 15.21%.

In other news, SVP Michael R. Tyler sold 676 shares of Jacobs Engineering Group stock in a transaction on Monday, March 4th. The stock was sold at an average price of $74.67, for a total value of $50,476.92. Following the transaction, the senior vice president now owns 27,150 shares in the company, valued at approximately $2,027,290.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph R. Bronson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $76.45, for a total value of $764,500.00. Following the sale, the director now directly owns 35,302 shares in the company, valued at approximately $2,698,837.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,982 shares of company stock worth $1,820,176. Corporate insiders own 0.92% of the company’s stock.

JEC has been the topic of a number of recent research reports. Robert W. Baird set a $83.00 price objective on Jacobs Engineering Group and gave the stock a “buy” rating in a research note on Wednesday, February 20th. Barclays restated an “overweight” rating and set a $85.00 price objective on shares of Jacobs Engineering Group in a research note on Tuesday, April 30th. Citigroup set a $83.00 price objective on Jacobs Engineering Group and gave the stock a “buy” rating in a research note on Wednesday, February 20th. MKM Partners set a $87.00 price objective on Jacobs Engineering Group and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, Cowen initiated coverage on Jacobs Engineering Group in a research note on Monday, January 28th. They set an “outperform” rating and a $77.00 price objective on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $84.55.

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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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Institutional Ownership by Quarter for Jacobs Engineering Group (NYSE:JEC)

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