Brokerages Set Jacobs Engineering Group Inc. (NYSE:JEC) PT at $47.98
Shares of Jacobs Engineering Group Inc. (NYSE:JEC) have been given a consensus rating of “Hold” by the twenty brokerages that are currently covering the firm. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $47.98.
A number of equities analysts have issued reports on JEC shares. MKM Partners started coverage on Jacobs Engineering Group in a report on Wednesday, June 29th. They issued a “neutral” rating and a $49.00 price objective for the company. Citigroup Inc. reiterated a “buy” rating on shares of Jacobs Engineering Group in a report on Tuesday, July 26th. Johnson Rice downgraded Jacobs Engineering Group from an “accumulate” rating to a “hold” rating in a report on Thursday, August 11th. DA Davidson increased their price objective on Jacobs Engineering Group from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Finally, Argus reiterated a “buy” rating and issued a $60.00 price objective (up previously from $58.00) on shares of Jacobs Engineering Group in a report on Friday, August 19th.
In other news, Director Noel G. Watson sold 66,666 shares of Jacobs Engineering Group stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $49.28, for a total transaction of $3,285,300.48. Following the transaction, the director now directly owns 770,003 shares of the company’s stock, valued at approximately $37,945,747.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Terence D. Hagen sold 18,639 shares of Jacobs Engineering Group stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $54.73, for a total value of $1,020,112.47. Following the transaction, the insider now directly owns 27,022 shares in the company, valued at $1,478,914.06. The disclosure for this sale can be found here. 3.16% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Jacobs Engineering Group by 2.3% in the second quarter. Vanguard Group Inc. now owns 10,809,242 shares of the company’s stock worth $538,408,000 after buying an additional 246,367 shares during the last quarter. Primecap Management Co. CA boosted its position in Jacobs Engineering Group by 4.3% in the first quarter. Primecap Management Co. CA now owns 8,168,805 shares of the company’s stock worth $355,751,000 after buying an additional 336,775 shares in the last quarter. State Street Corp boosted its position in Jacobs Engineering Group by 0.3% in the second quarter. State Street Corp now owns 4,785,850 shares of the company’s stock worth $238,397,000 after buying an additional 13,927 shares in the last quarter. Boston Partners boosted its position in Jacobs Engineering Group by 5,194.5% in the second quarter. Boston Partners now owns 3,445,961 shares of the company’s stock worth $171,643,000 after buying an additional 3,380,875 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Jacobs Engineering Group by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,361,346 shares of the company’s stock worth $146,387,000 after buying an additional 16,322 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Jacobs Engineering Group (NYSE:JEC) opened at 52.21 on Monday. The company has a 50 day moving average of $52.28 and a 200-day moving average of $49.37. Jacobs Engineering Group has a one year low of $34.76 and a one year high of $55.89. The stock has a market capitalization of $6.34 billion, a P/E ratio of 30.27 and a beta of 1.69.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The business earned $2.70 billion during the quarter, compared to the consensus estimate of $2.79 billion. Jacobs Engineering Group had a return on equity of 8.58% and a net margin of 1.84%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 earnings per share. Equities research analysts predict that Jacobs Engineering Group will post $3.08 earnings per share for the current fiscal year.
About Jacobs Engineering Group
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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