Jacobs Engineering Group Inc (JEC) Stake Lowered by Barings LLC

Barings LLC lessened its position in Jacobs Engineering Group Inc (NYSE:JEC) by 49.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 22,044 shares of the construction company’s stock after selling 21,400 shares during the period. Barings LLC’s holdings in Jacobs Engineering Group were worth $1,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Jacobs Engineering Group by 35.8% in the 1st quarter. LPL Financial LLC now owns 11,044 shares of the construction company’s stock valued at $653,000 after purchasing an additional 2,909 shares in the last quarter. CIBC World Markets Inc. purchased a new position in shares of Jacobs Engineering Group in the 1st quarter valued at about $454,000. Principal Financial Group Inc. increased its holdings in shares of Jacobs Engineering Group by 21.4% in the 1st quarter. Principal Financial Group Inc. now owns 222,083 shares of the construction company’s stock valued at $13,137,000 after purchasing an additional 39,221 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Jacobs Engineering Group by 51.0% in the 1st quarter. Allianz Asset Management GmbH now owns 274,525 shares of the construction company’s stock valued at $16,238,000 after purchasing an additional 92,726 shares in the last quarter. Finally, CenturyLink Investment Management Co purchased a new position in shares of Jacobs Engineering Group in the 2nd quarter valued at about $1,089,000. Institutional investors own 86.47% of the company’s stock.

NYSE:JEC opened at $75.09 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.39. Jacobs Engineering Group Inc has a twelve month low of $55.21 and a twelve month high of $78.32. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 1.07 and a beta of 1.56.

Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Monday, August 6th. The construction company reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.14. Jacobs Engineering Group had a net margin of 2.19% and a return on equity of 9.83%. The firm had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period last year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was up 65.3% on a year-over-year basis. On average, research analysts forecast that Jacobs Engineering Group Inc will post 4.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, September 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.60 annualized dividend and a yield of 0.80%. Jacobs Engineering Group’s dividend payout ratio (DPR) is currently 18.52%.

JEC has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Jacobs Engineering Group from $69.00 to $70.00 and gave the company a “$66.12” rating in a report on Monday, July 23rd. DA Davidson upgraded shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a report on Monday, August 6th. Robert W. Baird reiterated an “outperform” rating and issued a $82.00 price target (up previously from $73.00) on shares of Jacobs Engineering Group in a report on Monday, August 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $74.00 price target on shares of Jacobs Engineering Group in a report on Tuesday, August 7th. Finally, KeyCorp increased their price target on shares of Jacobs Engineering Group from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.15.

About Jacobs Engineering Group

Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.

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

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