Halsey Associates Inc. CT Has $10.20 Million Stake in Jacobs Engineering Group Inc (JEC)
Halsey Associates Inc. CT cut its position in Jacobs Engineering Group Inc (NYSE:JEC) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 133,366 shares of the construction company’s stock after selling 2,444 shares during the quarter. Jacobs Engineering Group comprises 1.8% of Halsey Associates Inc. CT’s holdings, making the stock its 22nd largest position. Halsey Associates Inc. CT’s holdings in Jacobs Engineering Group were worth $10,202,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Madison Investment Holdings Inc. boosted its stake in shares of Jacobs Engineering Group by 17.1% in the second quarter. Madison Investment Holdings Inc. now owns 1,284,085 shares of the construction company’s stock valued at $81,527,000 after purchasing an additional 187,572 shares during the period. First American Trust FSB boosted its stake in Jacobs Engineering Group by 7.2% during the 3rd quarter. First American Trust FSB now owns 42,370 shares of the construction company’s stock valued at $3,241,000 after acquiring an additional 2,855 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Jacobs Engineering Group during the 2nd quarter valued at $1,323,000. Ruggie Capital Group bought a new position in Jacobs Engineering Group during the 2nd quarter valued at $241,000. Finally, Bank of Nova Scotia boosted its stake in Jacobs Engineering Group by 7.9% during the 2nd quarter. Bank of Nova Scotia now owns 13,107 shares of the construction company’s stock valued at $832,000 after acquiring an additional 961 shares during the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine upgraded shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Citigroup upgraded shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Monday, October 22nd. Robert W. Baird increased their price objective on shares of Jacobs Engineering Group from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Finally, Barclays reiterated a “buy” rating and set a $83.00 price objective on shares of Jacobs Engineering Group in a research note on Thursday, October 18th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $83.92.
Jacobs Engineering Group (NYSE:JEC) last issued its 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. The company had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Jacobs Engineering Group had a net margin of 1.19% and a return on equity of 10.40%. The firm’s revenue was up 56.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. On average, research analysts expect that Jacobs Engineering Group Inc will post 5.15 EPS for the current fiscal year.
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About Jacobs Engineering Group
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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