Jacobs Engineering Group Inc. (JEC) Position Cut by Alliancebernstein L.P.
Alliancebernstein L.P. trimmed its position in Jacobs Engineering Group Inc. (NYSE:JEC) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 275,999 shares of the construction company’s stock after selling 2,925 shares during the quarter. Alliancebernstein L.P. owned 0.23% of Jacobs Engineering Group worth $15,012,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Global X Management Co. LLC increased its stake in Jacobs Engineering Group by 204.2% in the first quarter. Global X Management Co. LLC now owns 2,032 shares of the construction company’s stock valued at $112,000 after acquiring an additional 1,364 shares during the last quarter. First Manhattan Co. increased its stake in Jacobs Engineering Group by 1,013.6% in the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock valued at $129,000 after acquiring an additional 2,169 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in Jacobs Engineering Group in the first quarter valued at approximately $160,000. Invictus RG bought a new position in Jacobs Engineering Group in the first quarter valued at approximately $178,000. Finally, Signaturefd LLC increased its stake in Jacobs Engineering Group by 14.4% in the first quarter. Signaturefd LLC now owns 4,078 shares of the construction company’s stock valued at $225,000 after acquiring an additional 512 shares during the last quarter. 86.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Jacobs Engineering Group Inc. (NYSE:JEC) opened at 57.54 on Friday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 30.61 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. The firm has a 50-day moving average of $53.34 and a 200-day moving average of $53.88.
Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Tuesday, August 8th. The construction company reported $0.79 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.79. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. Jacobs Engineering Group’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, analysts anticipate that Jacobs Engineering Group Inc. will post $3.13 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Wednesday, August 2nd. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 31.75%.
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A number of brokerages recently issued reports on JEC. BidaskClub raised shares of Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. 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. Citigroup Inc. cut shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, August 4th. Finally, KeyCorp reissued a “buy” rating and issued a $60.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.89.
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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