First Trust Advisors LP Lowers Stake in Jacobs Engineering Group Inc. (JEC)

First Trust Advisors LP cut its position in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 44.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,263 shares of the construction company’s stock after selling 91,901 shares during the period. First Trust Advisors LP owned about 0.09% of Jacobs Engineering Group worth $6,658,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Inc. grew its position in Jacobs Engineering Group by 18.8% in the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock valued at $117,000 after acquiring an additional 339 shares during the period. Whittier Trust Co. grew its position in Jacobs Engineering Group by 141.2% in the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock valued at $119,000 after acquiring an additional 1,200 shares during the period. First Manhattan Co. grew its position in Jacobs Engineering Group by 1,013.6% in the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock valued at $129,000 after acquiring an additional 2,169 shares during the period. Bridgewater Associates LP bought a new stake in Jacobs Engineering Group in the second quarter valued at $207,000. Finally, MPS Loria Financial Planners LLC bought a new stake in Jacobs Engineering Group in the second quarter valued at $209,000. Institutional investors and hedge funds own 83.33% of the company’s stock.

Shares of Jacobs Engineering Group Inc. (NYSE JEC) opened at $57.94 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $7,197.25, a price-to-earnings ratio of 19.81, a PEG ratio of 1.72 and a beta of 1.51. Jacobs Engineering Group Inc. has a 1-year low of $49.31 and a 1-year high of $63.42.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Thursday, October 12th. Jacobs Engineering Group’s payout ratio is presently 31.75%.

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A number of analysts have weighed in on the company. Citigroup Inc. set a $64.00 price target on Jacobs Engineering Group and gave the company a “hold” rating in a research report on Friday, October 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 price target on shares of Jacobs Engineering Group in a research report on Friday, August 4th. Zacks Investment Research upgraded Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research report on Tuesday, October 17th. BidaskClub cut Jacobs Engineering Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, ValuEngine cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.56.

Jacobs Engineering Group Company Profile

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.

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

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