Bridgewater Associates LP cut its holdings in Jacobs Engineering Group Inc (NYSE:JEC) by 70.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,603 shares of the construction company’s stock after selling 8,765 shares during the quarter. Bridgewater Associates LP’s holdings in Jacobs Engineering Group were worth $276,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of JEC. Alliancebernstein L.P. boosted its stake in shares of Jacobs Engineering Group by 354.8% in the third quarter. Alliancebernstein L.P. now owns 1,817,462 shares of the construction company’s stock valued at $139,036,000 after buying an additional 1,417,879 shares in the last quarter. CI Global Investments Inc. raised its holdings in Jacobs Engineering Group by 27.7% during the third quarter. CI Global Investments Inc. now owns 3,595,224 shares of the construction company’s stock worth $275,035,000 after purchasing an additional 779,327 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Jacobs Engineering Group by 658.9% during the second quarter. Point72 Asset Management L.P. now owns 710,289 shares of the construction company’s stock worth $45,096,000 after purchasing an additional 616,689 shares during the last quarter. Marshall Wace LLP acquired a new position in Jacobs Engineering Group during the second quarter worth $38,937,000. Finally, Millennium Management LLC raised its holdings in Jacobs Engineering Group by 66.1% during the second quarter. Millennium Management LLC now owns 1,332,939 shares of the construction company’s stock worth $84,628,000 after purchasing an additional 530,536 shares during the last quarter. Hedge funds and other institutional investors own 86.46% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Credit Suisse Group reduced their price objective on Jacobs Engineering Group from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Wednesday, November 21st. Citigroup reduced their price objective on Jacobs Engineering Group from $95.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, November 21st. MKM Partners reduced their price objective on Jacobs Engineering Group from $84.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, November 21st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $80.00 price objective on shares of Jacobs Engineering Group in a report on Wednesday, November 21st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $83.92.

NYSE JEC opened at $60.92 on Friday. Jacobs Engineering Group Inc has a fifty-two week low of $55.21 and a fifty-two week high of $82.24. The firm has a market capitalization of $8.93 billion, a PE ratio of 13.63, a P/E/G ratio of 1.27 and a beta of 1.40. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.36.

Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Tuesday, November 20th. The construction company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.07. Jacobs Engineering Group had a return on equity of 10.40% and a net margin of 1.19%. The company had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.27 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 56.1% compared to the same quarter last year. As a group, research analysts predict that Jacobs Engineering Group Inc will post 5.15 earnings per share for the current fiscal year.

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Jacobs Engineering Group Profile

Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.

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

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