Jacobs Engineering Group (NYSE:JEC) had its target price lifted by Bank of America from $62.00 to $70.00 in a research report sent to investors on Thursday morning. Bank of America currently has a neutral rating on the construction company’s stock.
Other equities research analysts have also issued reports about the company. Zacks Investment Research raised Jacobs Engineering Group from a hold rating to a buy rating and set a $76.00 target price for the company in a research report on Monday, January 8th. ValuEngine raised Jacobs Engineering Group from a hold rating to a buy rating in a report on Sunday, December 31st. Argus reissued a buy rating and issued a $73.00 price objective on shares of Jacobs Engineering Group in a report on Monday, November 27th. They noted that the move was a valuation call. Barclays lifted their price objective on Jacobs Engineering Group from $75.00 to $78.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Finally, UBS Group raised Jacobs Engineering Group from a neutral rating to a buy rating and set a $82.00 price objective for the company in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. Jacobs Engineering Group currently has an average rating of Hold and an average price target of $74.00.
Shares of Jacobs Engineering Group (JEC) traded down $2.15 during trading on Thursday, hitting $60.67. The stock had a trading volume of 791,305 shares, compared to its average volume of 1,179,177. Jacobs Engineering Group has a 1 year low of $49.31 and a 1 year high of $72.18. The stock has a market cap of $8,800.00, a price-to-earnings ratio of 31.72, a PEG ratio of 1.22 and a beta of 1.48. The company has a current ratio of 1.48, a quick ratio of 1.56 and a debt-to-equity ratio of 0.43.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Thursday, February 15th. Jacobs Engineering Group’s payout ratio is presently 30.93%.
In other Jacobs Engineering Group news, Director Joseph R. Bronson sold 6,125 shares of Jacobs Engineering Group stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total transaction of $385,936.25. Following the completion of the transaction, the director now 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 can be accessed through this link. 0.74% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Pinebridge Investments L.P. grew its holdings in Jacobs Engineering Group by 29.1% during the 4th quarter. Pinebridge Investments L.P. now owns 14,952 shares of the construction company’s stock valued at $986,000 after buying an additional 3,368 shares in the last quarter. Global X Management Co. LLC grew its holdings in Jacobs Engineering Group by 65.3% during the 4th quarter. Global X Management Co. LLC now owns 9,479 shares of the construction company’s stock valued at $625,000 after buying an additional 3,743 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Jacobs Engineering Group by 13.7% during the 4th quarter. Toronto Dominion Bank now owns 51,883 shares of the construction company’s stock valued at $3,421,000 after acquiring an additional 6,240 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Jacobs Engineering Group by 6.9% during the 4th quarter. Wells Fargo & Company MN now owns 4,288,179 shares of the construction company’s stock valued at $282,848,000 after acquiring an additional 276,095 shares during the last quarter. Finally, Barings LLC boosted its position in shares of Jacobs Engineering Group by 189.8% during the 4th quarter. Barings LLC now owns 33,744 shares of the construction company’s stock valued at $2,226,000 after acquiring an additional 22,100 shares during the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.
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.
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