Pinebridge Investments L.P. raised its holdings in Jacobs Engineering Group Inc (NYSE:JEC) by 40.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,584 shares of the construction company’s stock after buying an additional 3,353 shares during the quarter. Pinebridge Investments L.P.’s holdings in Jacobs Engineering Group were worth $675,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Advisor Group Inc. raised its position in shares of Jacobs Engineering Group by 18.8% during the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after purchasing an additional 339 shares during the period. Whittier Trust Co. raised its position in shares of Jacobs Engineering Group by 141.2% during the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after purchasing an additional 1,200 shares during the period. First Manhattan Co. raised its position in shares of Jacobs Engineering Group by 1,013.6% during the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock worth $129,000 after purchasing an additional 2,169 shares during the period. Jarislowsky Fraser Ltd acquired a new position in shares of Jacobs Engineering Group during the third quarter worth approximately $186,000. Finally, Palisade Capital Management LLC NJ acquired a new position in shares of Jacobs Engineering Group during the third quarter worth approximately $206,000. 85.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. KeyCorp upped their target price on Jacobs Engineering Group from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 22nd. DA Davidson reaffirmed a “hold” rating and set a $68.00 target price on shares of Jacobs Engineering Group in a research report on Wednesday, November 22nd. They noted that the move was a valuation call. Robert W. Baird reaffirmed a “hold” rating and set a $69.00 target price on shares of Jacobs Engineering Group in a research report on Friday, November 24th. Zacks Investment Research lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Finally, ValuEngine raised Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $67.44.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Tuesday, November 21st. The construction company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.16. The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.58 billion. Jacobs Engineering Group had a return on equity of 9.18% and a net margin of 2.93%. Jacobs Engineering Group’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. research analysts anticipate that Jacobs Engineering Group Inc will post 3.44 EPS for the current fiscal year.
In related news, Director Joseph R. Bronson sold 6,125 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total value of $385,936.25. Following the completion of the sale, the director now directly owns 30,496 shares of the company’s stock, valued at approximately $1,921,552.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.74% of the company’s stock.
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Jacobs Engineering Group 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.
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