Wedbush Securities Inc. lowered its stake in Jacobs Engineering Group Inc. (NYSE:JEC) by 27.8% during the third quarter, Holdings Channel reports. The fund owned 28,962 shares of the company’s stock after selling 11,176 shares during the period. Wedbush Securities Inc.’s holdings in Jacobs Engineering Group were worth $1,498,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Boston Partners increased its position in Jacobs Engineering Group by 5,194.5% in the second quarter. Boston Partners now owns 3,445,961 shares of the company’s stock worth $171,643,000 after buying an additional 3,380,875 shares in the last quarter. Bank of Montreal Can purchased a new position in Jacobs Engineering Group during the second quarter worth about $43,824,000. JPMorgan Chase & Co. increased its position in Jacobs Engineering Group by 185.6% in the second quarter. JPMorgan Chase & Co. now owns 798,748 shares of the company’s stock worth $39,785,000 after buying an additional 519,040 shares in the last quarter. Victory Capital Management Inc. increased its position in Jacobs Engineering Group by 22.9% in the second quarter. Victory Capital Management Inc. now owns 2,048,316 shares of the company’s stock worth $102,027,000 after buying an additional 381,071 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Jacobs Engineering Group by 76.0% in the second quarter. AQR Capital Management LLC now owns 679,772 shares of the company’s stock worth $33,860,000 after buying an additional 293,617 shares in the last quarter. Institutional investors own 86.63% of the company’s stock.
Jacobs Engineering Group Inc. (NYSE:JEC) traded up 0.48% during midday trading on Monday, hitting $62.47. The company had a trading volume of 148,562 shares. The stock has a market capitalization of $7.59 billion, a PE ratio of 36.21 and a beta of 1.61. The stock has a 50 day moving average price of $53.28 and a 200-day moving average price of $52.11. Jacobs Engineering Group Inc. has a 52 week low of $34.76 and a 52 week high of $62.62.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. Jacobs Engineering Group had a return on equity of 8.48% and a net margin of 1.92%. The business earned $2.64 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was down 15.3% on a year-over-year basis. On average, equities analysts predict that Jacobs Engineering Group Inc. will post $3.20 EPS for the current year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research report on Monday. Johnson Rice cut Jacobs Engineering Group from an “accumulate” rating to a “hold” rating in a research report on Thursday, August 11th. Credit Suisse Group AG upped their price target on Jacobs Engineering Group from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, November 23rd. FBR & Co upped their price target on Jacobs Engineering Group from $47.00 to $55.00 and gave the company a “mkt perform” rating in a research report on Friday, August 12th. Finally, TheStreet cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $51.41.
In related news, Director Noel G. Watson sold 66,668 shares of Jacobs Engineering Group stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $51.71, for a total value of $3,447,402.28. Following the completion of the transaction, the director now directly owns 736,669 shares in the company, valued at $38,093,153.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.16% of the stock is owned by corporate insiders.
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.