Oppenheimer & Co. Inc. Trims Holdings in Jacobs Engineering Group Inc (JEC)
Oppenheimer & Co. Inc. lowered its position in Jacobs Engineering Group Inc (NYSE:JEC) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 80,917 shares of the construction company’s stock after selling 1,350 shares during the period. Oppenheimer & Co. Inc.’s holdings in Jacobs Engineering Group were worth $5,338,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisor Group Inc. lifted its position in shares of Jacobs Engineering Group by 18.8% in the 2nd 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. lifted its position in shares of Jacobs Engineering Group by 141.2% in the 3rd 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. Cerebellum GP LLC acquired a new position in shares of Jacobs Engineering Group in the 4th quarter worth approximately $127,000. Jarislowsky Fraser Ltd acquired a new position in shares of Jacobs Engineering Group in the 3rd quarter worth approximately $186,000. Finally, Palisade Capital Management LLC NJ acquired a new position in shares of Jacobs Engineering Group in the 3rd quarter worth approximately $206,000. Hedge funds and other institutional investors own 71.51% of the company’s stock.
In other news, Director Joseph R. Bronson sold 6,125 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were 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 owns 30,496 shares in the company, valued at approximately $1,921,552.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company’s stock.
Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.10. Jacobs Engineering Group had a net margin of 2.30% and a return on equity of 8.59%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. equities research analysts forecast that Jacobs Engineering Group Inc will post 4.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Jacobs Engineering Group’s payout ratio is 30.77%.
A number of research firms recently issued reports on JEC. Robert W. Baird reiterated a “hold” rating and set a $69.00 target price on shares of Jacobs Engineering Group in a research report on Friday, November 24th. Barclays began coverage on shares of Jacobs Engineering Group in a research report on Tuesday, December 12th. They set an “overweight” rating and a $75.00 target price on the stock. Zacks Investment Research downgraded shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. KeyCorp boosted their target price on shares of Jacobs Engineering Group from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, November 22nd. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $82.00 target price on shares of Jacobs Engineering Group in a research report on Thursday, January 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.00.
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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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