Municipal Employees Retirement System of Michigan lowered its position in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 20.5% during the second quarter, Holdings Channel reports. The institutional investor owned 11,980 shares of the construction company’s stock after selling 3,090 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Jacobs Engineering Group were worth $651,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Jacobs Engineering Group by 0.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,601 shares of the construction company’s stock worth $199,000 after buying an additional 25 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its position in shares of Jacobs Engineering Group by 0.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 6,734 shares of the construction company’s stock worth $372,000 after buying an additional 38 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Jacobs Engineering Group by 0.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,712 shares of the construction company’s stock worth $260,000 after buying an additional 42 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Jacobs Engineering Group by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 13,488 shares of the construction company’s stock worth $733,000 after buying an additional 75 shares in the last quarter. Finally, Wheatland Advisors Inc. increased its position in shares of Jacobs Engineering Group by 1.2% in the first quarter. Wheatland Advisors Inc. now owns 6,276 shares of the construction company’s stock worth $347,000 after buying an additional 76 shares in the last quarter. 87.94% of the stock is owned by institutional investors and hedge funds.

Shares of Jacobs Engineering Group Inc. (NYSE JEC) opened at 50.25 on Friday. The company’s 50 day moving average is $53.26 and its 200 day moving average is $54.55. The company has a market cap of $6.05 billion, a P/E ratio of 26.73 and a beta of 1.52. Jacobs Engineering Group Inc. has a 12 month low of $49.15 and a 12 month high of $63.42.

Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Jacobs Engineering Group’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts predict that Jacobs Engineering Group Inc. will post $3.13 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.19%. Jacobs Engineering Group’s payout ratio is 31.75%.

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A number of brokerages have weighed in on JEC. BidaskClub downgraded shares of Jacobs Engineering Group from a “sell” rating to a “strong sell” rating in a research note on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 target price on shares of Jacobs Engineering Group in a research note on Friday, August 4th. Robert W. Baird reaffirmed a “neutral” rating and set a $64.00 target price (up previously from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. Zacks Investment Research raised shares of Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $69.00 target price on shares of Jacobs Engineering Group in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Jacobs Engineering Group has a consensus rating of “Hold” and a consensus target price of $62.30.

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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Institutional Ownership by Quarter for Jacobs Engineering Group (NYSE:JEC)

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