ING Groep NV Acquires 1,056 Shares of Jacobs Engineering Group Inc (JEC)
ING Groep NV boosted its holdings in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,454 shares of the construction company’s stock after acquiring an additional 1,056 shares during the quarter. ING Groep NV’s holdings in Jacobs Engineering Group were worth $756,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Cerebellum GP LLC bought a new position in Jacobs Engineering Group during the fourth quarter valued at approximately $127,000. Whittier Trust Co. raised its position in Jacobs Engineering Group by 141.2% during the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock valued at $119,000 after acquiring an additional 1,200 shares in the last quarter. Advisor Group Inc. raised its position in Jacobs Engineering Group by 18.8% during the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock valued at $117,000 after acquiring an additional 339 shares in the last quarter. Jarislowsky Fraser Ltd bought a new position in Jacobs Engineering Group during the third quarter valued at approximately $186,000. Finally, Cadence Capital Management LLC bought a new position in Jacobs Engineering Group during the fourth quarter valued at approximately $215,000. 71.51% of the stock is currently owned by hedge funds and other institutional investors.
JEC has been the topic of several recent research reports. Zacks Investment Research lowered shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. ValuEngine lowered shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Credit Suisse Group reissued an “outperform” rating and issued a $82.00 price target on shares of Jacobs Engineering Group in a research report on Thursday, January 18th. Bank of America lifted their price target on shares of Jacobs Engineering Group from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup set a $64.00 price target on shares of Jacobs Engineering Group and gave the company a “hold” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Jacobs Engineering Group currently has a consensus rating of “Hold” and a consensus target price of $74.00.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.10. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.56 billion. Jacobs Engineering Group had a net margin of 2.30% and a return on equity of 8.59%. Jacobs Engineering Group’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.68 earnings per share. sell-side analysts forecast that Jacobs Engineering Group Inc will post 4.01 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. Jacobs Engineering Group’s payout ratio is 30.77%.
In other news, Director Joseph R. Bronson sold 6,125 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $63.01, for a total value of $385,936.25. Following the sale, the director now owns 30,496 shares in the company, valued at $1,921,552.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.74% of the company’s stock.
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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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