Texas Yale Capital Corp. Takes $224,000 Position in Jacobs Engineering Group Inc (JEC)
Texas Yale Capital Corp. acquired a new position in shares of Jacobs Engineering Group Inc (NYSE:JEC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,393 shares of the construction company’s stock, valued at approximately $224,000.
A number of other hedge funds have also made changes to their positions in the stock. Ruane Cunniff & Goldfarb Inc. grew its holdings in Jacobs Engineering Group by 9.4% during the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,692,656 shares of the construction company’s stock worth $331,711,000 after acquiring an additional 487,089 shares during the period. Wells Fargo & Company MN grew its holdings in Jacobs Engineering Group by 68.7% during the third quarter. Wells Fargo & Company MN now owns 4,012,084 shares of the construction company’s stock worth $233,784,000 after acquiring an additional 1,634,127 shares during the period. Dimensional Fund Advisors LP grew its holdings in Jacobs Engineering Group by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,191,405 shares of the construction company’s stock worth $185,962,000 after acquiring an additional 19,954 shares during the period. Lord Abbett & CO. LLC grew its holdings in Jacobs Engineering Group by 1.5% during the second quarter. Lord Abbett & CO. LLC now owns 1,108,792 shares of the construction company’s stock worth $60,307,000 after acquiring an additional 16,302 shares during the period. Finally, Epoch Investment Partners Inc. grew its holdings in Jacobs Engineering Group by 6.5% during the third quarter. Epoch Investment Partners Inc. now owns 1,036,189 shares of the construction company’s stock worth $60,379,000 after acquiring an additional 63,645 shares during the period. 71.51% of the stock is currently owned by hedge funds and other institutional investors.
In other Jacobs Engineering Group news, Director Joseph R. Bronson sold 6,125 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 30,496 shares in the company, valued at approximately $1,921,552.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.74% of the stock is owned by company insiders.
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, beating analysts’ consensus estimates of $0.67 by $0.10. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. analysts expect that Jacobs Engineering Group Inc will post 4.01 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 16th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 30.77%.
JEC has been the topic of several recent research reports. Bank of America upped their price objective on Jacobs Engineering Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Jefferies Group set a $70.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a report on Wednesday, February 7th. Robert W. Baird set a $75.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a report on Wednesday, February 7th. Alembic Global Advisors restated a “buy” rating on shares of Jacobs Engineering Group in a report on Monday. Finally, Goldman Sachs Group upgraded Jacobs Engineering Group from a “sell” rating to a “neutral” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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