Jacobs Engineering Group (NYSE:JEC) had its price target hoisted by KeyCorp from $82.00 to $86.00 in a report published on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the construction company’s stock. KeyCorp also issued estimates for Jacobs Engineering Group’s FY2021 earnings at $6.18 EPS.
JEC has been the subject of several other research reports. Zacks Investment Research upgraded Jacobs Engineering Group from a sell rating to a buy rating and set a $88.00 price target for the company in a research report on Tuesday, April 23rd. DA Davidson decreased their target price on Jacobs Engineering Group to $86.00 and set a buy rating for the company in a research report on Thursday, February 7th. Barclays reissued an overweight rating and issued a $85.00 target price on shares of Jacobs Engineering Group in a research report on Tuesday, April 30th. MKM Partners upped their price objective on shares of Jacobs Engineering Group to $87.00 and gave the stock a buy rating in a research report on Tuesday, February 26th. Finally, Argus restated a buy rating and set a $68.72 price objective (down previously from $84.00) on shares of Jacobs Engineering Group in a research report on Tuesday, February 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $84.55.
Shares of Jacobs Engineering Group stock traded down $0.77 during trading on Wednesday, reaching $78.26. 42,755 shares of the company’s stock were exchanged, compared to its average volume of 1,262,682. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.58 and a current ratio of 1.58. Jacobs Engineering Group has a 1-year low of $55.17 and a 1-year high of $82.24. The stock has a market capitalization of $10.74 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.44.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Tuesday, May 7th. The construction company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.10. Jacobs Engineering Group had a return on equity of 10.57% and a net margin of 1.96%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm earned $1.00 EPS. Jacobs Engineering Group’s revenue was up 6.9% on a year-over-year basis. On average, research analysts forecast that Jacobs Engineering Group will post 5.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.68 dividend on an annualized basis and a yield of 0.87%. Jacobs Engineering Group’s payout ratio is currently 15.21%.
Jacobs Engineering Group declared that its Board of Directors has approved a share buyback program on Thursday, January 17th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 11.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In related news, SVP Michael R. Tyler sold 656 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $76.22, for a total value of $50,000.32. Following the completion of the transaction, the senior vice president now owns 26,494 shares of the company’s stock, valued at approximately $2,019,372.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Terence D. Hagen sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $72.50, for a total transaction of $507,500.00. Following the completion of the transaction, the chief operating officer now directly owns 62,775 shares of the company’s stock, valued at approximately $4,551,187.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,774 shares of company stock valued at $2,688,356. 0.92% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Lunia Capital LP boosted its holdings in shares of Jacobs Engineering Group by 9,466.9% in the 4th quarter. Lunia Capital LP now owns 9,932,705 shares of the construction company’s stock valued at $9,933,000 after purchasing an additional 9,828,881 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Jacobs Engineering Group by 5,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,093,344 shares of the construction company’s stock valued at $104,000 after purchasing an additional 5,978,776 shares during the last quarter. CI Investments Inc. acquired a new position in shares of Jacobs Engineering Group in the 4th quarter valued at $248,993,000. FMR LLC boosted its holdings in shares of Jacobs Engineering Group by 18.2% in the 4th quarter. FMR LLC now owns 5,092,571 shares of the construction company’s stock valued at $297,711,000 after purchasing an additional 782,724 shares during the last quarter. Finally, AGF Investments Inc. acquired a new position in shares of Jacobs Engineering Group in the 4th quarter valued at $37,633,000. 88.96% of the stock is owned by hedge funds and other institutional investors.
About Jacobs Engineering Group
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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