ZWJ Investment Counsel Inc. raised its holdings in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,130 shares of the construction company’s stock after buying an additional 10,804 shares during the quarter. Jacobs Engineering Group comprises 2.1% of ZWJ Investment Counsel Inc.’s investment portfolio, making the stock its 18th largest holding. ZWJ Investment Counsel Inc.’s holdings in Jacobs Engineering Group were worth $26,172,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Arcadia Investment Management Corp MI acquired a new position in shares of Jacobs Engineering Group during the second quarter worth approximately $25,000. Hanson & Doremus Investment Management acquired a new position in shares of Jacobs Engineering Group in the second quarter valued at $26,000. Sandy Spring Bank raised its stake in shares of Jacobs Engineering Group by 100.0% in the first quarter. Sandy Spring Bank now owns 400 shares of the construction company’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Weaver Consulting Group acquired a new position in shares of Jacobs Engineering Group in the first quarter valued at $32,000. Finally, First Manhattan Co. raised its stake in shares of Jacobs Engineering Group by 115.9% in the first quarter. First Manhattan Co. now owns 462 shares of the construction company’s stock valued at $34,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.
Shares of NYSE JEC traded down $0.90 during trading hours on Friday, reaching $79.67. The stock had a trading volume of 1,079,731 shares, compared to its average volume of 773,208. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average price of $83.38. Jacobs Engineering Group Inc has a twelve month low of $55.17 and a twelve month high of $85.85. The company has a market capitalization of $11.01 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.41.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, July 25th. This represents a $0.68 annualized dividend and a yield of 0.85%. Jacobs Engineering Group’s dividend payout ratio is currently 15.21%.
In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 650 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $75.69, for a total transaction of $49,198.50. Following the completion of the transaction, the senior vice president now directly owns 25,844 shares in the company, valued at $1,956,132.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph R. Bronson sold 10,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $76.45, for a total value of $764,500.00. Following the transaction, the director now owns 35,302 shares of the company’s stock, valued at $2,698,837.90. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company’s stock.
A number of brokerages recently commented on JEC. Cowen restated a “buy” rating and issued a $92.00 target price on shares of Jacobs Engineering Group in a research note on Wednesday, April 24th. Barclays restated an “overweight” rating and issued a $85.00 target price on shares of Jacobs Engineering Group in a research note on Tuesday, April 30th. KeyCorp upped their target price on Jacobs Engineering Group from $86.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. ValuEngine lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research lowered Jacobs Engineering Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $84.84.
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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