Strs Ohio Sells 27,688 Shares of Jacobs Engineering Group Inc. (JEC)
Strs Ohio cut its position in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 230,000 shares of the company’s stock after selling 27,688 shares during the period. Strs Ohio owned approximately 0.19% of Jacobs Engineering Group worth $11,456,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in JEC. Kovitz Investment Group Partners LLC acquired a new stake in Jacobs Engineering Group during the first quarter worth approximately $96,945,000. Bank of Montreal Can purchased a new stake in shares of Jacobs Engineering Group during the second quarter worth about $43,824,000. Primecap Management Co. CA increased its stake in shares of 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. Hutchinson Capital Management CA increased its stake in shares of Jacobs Engineering Group by 109.5% in the first quarter. Hutchinson Capital Management CA now owns 440,845 shares of the company’s stock worth $19,198,000 after buying an additional 230,399 shares in the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Jacobs Engineering Group during the second quarter worth about $11,093,000. Institutional investors own 87.62% of the company’s stock.
Jacobs Engineering Group Inc. (NYSE:JEC) traded down 0.46% during midday trading on Friday, hitting $51.72. 1,165,588 shares of the stock traded hands. The company’s 50-day moving average is $52.12 and its 200-day moving average is $49.46. The company has a market cap of $6.28 billion, a PE ratio of 29.98 and a beta of 1.69. Jacobs Engineering Group Inc. has a one year low of $34.76 and a one year high of $55.89.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Jacobs Engineering Group had a net margin of 1.84% and a return on equity of 8.58%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm posted $0.97 EPS. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. Equities research analysts expect that Jacobs Engineering Group Inc. will post $3.08 EPS for the current fiscal year.
A number of analysts have recently issued reports on the stock. MKM Partners set a $49.00 price target on shares of Jacobs Engineering Group and gave the stock a “hold” rating in a report on Thursday, September 15th. Argus restated a “buy” rating and set a $60.00 price target (up previously from $58.00) on shares of Jacobs Engineering Group in a report on Friday, August 19th. FBR & Co raised their price target on shares of Jacobs Engineering Group from $47.00 to $55.00 and gave the stock a “mkt perform” rating in a report on Friday, August 12th. Zacks Investment Research downgraded shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. Finally, Johnson Rice downgraded shares of Jacobs Engineering Group from an “accumulate” rating to a “hold” rating in a report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.52.
In related news, Director Noel G. Watson sold 66,666 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $49.28, for a total value of $3,285,300.48. Following the sale, the director now owns 770,003 shares of the company’s stock, valued at approximately $37,945,747.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Terence D. Hagen sold 18,639 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $54.73, for a total transaction of $1,020,112.47. Following the completion of the sale, the insider now directly owns 27,022 shares in the company, valued at approximately $1,478,914.06. The disclosure for this sale can be found here. 3.16% of the stock is currently owned by corporate insiders.
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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