Wellington Management Group LLP Cuts Stake in Jacobs Engineering Group Inc. (JEC)

Wellington Management Group LLP cut its position in Jacobs Engineering Group Inc. (NYSE:JEC) by 70.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,981 shares of the construction company’s stock after selling 92,202 shares during the period. Wellington Management Group LLP’s holdings in Jacobs Engineering Group were worth $2,100,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norway Savings Bank increased its stake in Jacobs Engineering Group by 8.2% in the first quarter. Norway Savings Bank now owns 6,695 shares of the construction company’s stock worth $370,000 after buying an additional 510 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Jacobs Engineering Group by 25.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,439 shares of the construction company’s stock worth $1,130,000 after buying an additional 4,135 shares during the last quarter. New England Research & Management Inc. purchased a new stake in Jacobs Engineering Group during the first quarter worth about $1,037,000. HL Financial Services LLC purchased a new stake in Jacobs Engineering Group during the first quarter worth about $3,947,000. Finally, Chevy Chase Trust Holdings Inc. increased its stake in Jacobs Engineering Group by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 104,370 shares of the construction company’s stock worth $5,770,000 after buying an additional 3,469 shares during the last quarter. 86.95% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Engineering Group Inc. (JEC) opened at 54.50 on Tuesday. The stock has a market cap of $6.56 billion, a PE ratio of 31.69 and a beta of 1.53. The stock has a 50 day moving average price of $53.19 and a 200-day moving average price of $55.80. Jacobs Engineering Group Inc. has a one year low of $49.15 and a one year high of $63.42.

Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Tuesday, May 9th. The construction company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.71 by $0.07. Jacobs Engineering Group had a return on equity of 8.56% and a net margin of 2.05%. The firm had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. Equities research analysts expect that Jacobs Engineering Group Inc. will post $3.13 earnings per share for the current fiscal year.

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JEC has been the topic of a number of research reports. Zacks Investment Research raised Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, April 11th. BidaskClub raised Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Credit Suisse Group reaffirmed a “buy” rating and issued a $69.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, April 21st. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $64.00 price objective (up previously from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $60.60.

Jacobs Engineering Group Company Profile

Jacobs Engineering Group Inc is a technical professional services company. The Company provides a range of technical, professional and construction services to industrial, commercial and governmental clients. The Company’s services include Project Services; Process, Scientific, and Systems Consulting Services; Construction Services, and Operations and Maintenance Services.

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

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