TD Asset Management Inc. boosted its stake in Jacobs Engineering Group Inc (NYSE:JEC) by 17.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 198,951 shares of the construction company’s stock after buying an additional 29,365 shares during the quarter. TD Asset Management Inc. owned approximately 0.14% of Jacobs Engineering Group worth $11,631,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Ipswich Investment Management Co. Inc. purchased a new stake in Jacobs Engineering Group in the 4th quarter valued at approximately $47,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Jacobs Engineering Group by 103.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,417 shares of the construction company’s stock valued at $108,000 after buying an additional 720 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Jacobs Engineering Group in the 3rd quarter valued at approximately $148,000. Atlas Capital Advisors LLC purchased a new stake in Jacobs Engineering Group in the 3rd quarter valued at approximately $163,000. Finally, National Pension Service purchased a new stake in Jacobs Engineering Group in the 3rd quarter valued at approximately $164,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Michael R. Tyler sold 873 shares of the stock in a transaction on Friday, January 4th. The stock was sold at an average price of $58.37, for a total value of $50,957.01. Following the completion of the sale, the senior vice president now directly owns 28,935 shares in the company, valued at approximately $1,688,935.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael R. Tyler sold 765 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $65.07, for a total value of $49,778.55. Following the completion of the sale, the senior vice president now owns 27,826 shares of the company’s stock, valued at $1,810,637.82. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.
A number of research firms recently issued reports on JEC. Seaport Global Securities began coverage on Jacobs Engineering Group in a research note on Thursday, November 15th. They issued a “buy” rating and a $91.00 target price on the stock. Barclays reaffirmed a “buy” rating and issued a $83.00 target price on shares of Jacobs Engineering Group in a research note on Thursday, October 18th. Robert W. Baird reaffirmed a “buy” rating and issued a $73.00 target price on shares of Jacobs Engineering Group in a research note on Monday, January 7th. Citigroup raised Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research note on Monday, October 22nd. Finally, ValuEngine downgraded Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Jacobs Engineering Group has an average rating of “Buy” and an average price target of $81.64.
JEC stock opened at $65.73 on Tuesday. The firm has a market cap of $9.17 billion, a PE ratio of 14.70, a PEG ratio of 1.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.58 and a quick ratio of 1.58. Jacobs Engineering Group Inc has a 52 week low of $55.17 and a 52 week high of $82.24.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings data on Wednesday, February 6th. The construction company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.91 billion. Jacobs Engineering Group had a return on equity of 10.57% and a net margin of 1.96%. The business’s revenue for the quarter was up 72.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. On average, analysts forecast that Jacobs Engineering Group Inc will post 5.26 earnings per share for the current fiscal year.
Jacobs Engineering Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, January 17th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 11.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be issued a $0.17 dividend. This is an increase from Jacobs Engineering Group’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 14th. Jacobs Engineering Group’s dividend payout ratio is currently 13.42%.
Jacobs Engineering Group Company Profile
Jacobs Engineering Group Inc provides technical, professional, and construction services. The company's Aerospace, Technology, Environmental and Nuclear segment offers scientific, engineering, construction, nuclear, environmental, and technical support services to the aerospace, defense, technical, and automotive industries.
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