Lathrop Investment Management Corp lowered its position in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 2.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 205,449 shares of the construction company’s stock after selling 4,555 shares during the quarter. Jacobs Engineering Group comprises 4.9% of Lathrop Investment Management Corp’s holdings, making the stock its 4th biggest position. Lathrop Investment Management Corp owned 0.15% of Jacobs Engineering Group worth $17,338,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in Jacobs Engineering Group by 15.5% in the first quarter. FMR LLC now owns 5,883,832 shares of the construction company’s stock valued at $442,405,000 after purchasing an additional 791,261 shares in the last quarter. Rubric Capital Management LP acquired a new position in Jacobs Engineering Group in the first quarter valued at approximately $25,196,000. AGF Investments Inc. lifted its stake in Jacobs Engineering Group by 50.7% in the first quarter. AGF Investments Inc. now owns 970,408 shares of the construction company’s stock valued at $72,965,000 after buying an additional 326,671 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in Jacobs Engineering Group by 112,453.6% in the first quarter. Thompson Siegel & Walmsley LLC now owns 298,267 shares of the construction company’s stock valued at $22,427,000 after buying an additional 298,002 shares during the period. Finally, Bank of Montreal Can grew its holdings in Jacobs Engineering Group by 222.5% during the first quarter. Bank of Montreal Can now owns 249,498 shares of the construction company’s stock worth $18,760,000 after buying an additional 172,128 shares in the last quarter. 93.92% of the stock is owned by institutional investors.
Shares of Jacobs Engineering Group stock opened at $84.17 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.41 and a beta of 1.41. The firm’s 50-day moving average price is $83.63. Jacobs Engineering Group Inc has a 12 month low of $55.17 and a 12 month high of $85.85.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, July 25th. This represents a $0.68 annualized dividend and a dividend yield of 0.81%. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 15.21%.
Several research analysts have recently weighed in on the company. DA Davidson increased their price target on Jacobs Engineering Group to $95.00 and gave the stock a “buy” rating in a research note on Tuesday. ValuEngine downgraded Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Jacobs Engineering Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 9th. Barclays reiterated an “overweight” rating and set a $85.00 price target on shares of Jacobs Engineering Group in a research note on Tuesday, April 30th. Finally, Credit Suisse Group increased their price objective on Jacobs Engineering Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $86.19.
In other news, Director Joseph R. Bronson sold 10,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $76.45, for a total transaction of $764,500.00. Following the transaction, the director now directly owns 35,302 shares in the company, valued at approximately $2,698,837.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by corporate insiders.
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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