Insider Selling: Jacobs Engineering Group Inc. (JEC) Director Sells 66,668 Shares of Stock
Jacobs Engineering Group Inc. (NYSE:JEC) Director Noel G. Watson sold 66,668 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $51.71, for a total value of $3,447,402.28. Following the completion of the sale, the director now owns 736,669 shares in the company, valued at $38,093,153.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Jacobs Engineering Group Inc. (NYSE:JEC) opened at 51.32 on Wednesday. Jacobs Engineering Group Inc. has a 12-month low of $34.76 and a 12-month high of $55.89. The company’s 50 day moving average price is $52.00 and its 200-day moving average price is $49.69. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of 29.75 and a beta of 1.68.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was down 7.3% on a year-over-year basis. On average, analysts forecast that Jacobs Engineering Group Inc. will post $3.08 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Jacobs Engineering Group by 6.0% in the first quarter. Bessemer Group Inc. now owns 2,308 shares of the company’s stock worth $101,000 after buying an additional 130 shares during the period. Integrated Investment Consultants LLC boosted its stake in shares of Jacobs Engineering Group by 2.1% in the second quarter. Integrated Investment Consultants LLC now owns 2,048 shares of the company’s stock worth $102,000 after buying an additional 42 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Jacobs Engineering Group by 340.0% in the second quarter. Acrospire Investment Management LLC now owns 2,200 shares of the company’s stock worth $110,000 after buying an additional 1,700 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Jacobs Engineering Group by 33.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,366 shares of the company’s stock worth $117,000 after buying an additional 594 shares during the period. Finally, PineBridge Investments L.P. acquired a new stake in shares of Jacobs Engineering Group during the second quarter worth $160,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on JEC shares. Citigroup Inc. restated a “buy” rating on shares of Jacobs Engineering Group in a research note on Tuesday, July 26th. MKM Partners started coverage on Jacobs Engineering Group in a research note on Wednesday, June 29th. They issued a “neutral” rating and a $49.00 price target on the stock. Johnson Rice cut Jacobs Engineering Group from an “accumulate” rating to a “hold” rating in a research note on Thursday, August 11th. DA Davidson raised their price target on Jacobs Engineering Group from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Finally, Argus restated a “buy” rating and issued a $60.00 price target (up from $58.00) on shares of Jacobs Engineering Group in a research note on Friday, August 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.52.
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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