Deane Retirement Strategies Inc. acquired a new stake in Jacobs Engineering Group Inc (NYSE:JEC) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 27,772 shares of the construction company’s stock, valued at approximately $1,832,000. Jacobs Engineering Group comprises about 1.7% of Deane Retirement Strategies Inc.’s holdings, making the stock its 17th largest position.
A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Jacobs Engineering Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 11,936,467 shares of the construction company’s stock valued at $649,225,000 after acquiring an additional 150,333 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. lifted its holdings in shares of Jacobs Engineering Group by 9.4% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,692,656 shares of the construction company’s stock worth $331,711,000 after buying an additional 487,089 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Jacobs Engineering Group by 68.7% in the 3rd quarter. Wells Fargo & Company MN now owns 4,012,084 shares of the construction company’s stock worth $233,784,000 after buying an additional 1,634,127 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Jacobs Engineering Group by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,191,405 shares of the construction company’s stock worth $185,962,000 after buying an additional 19,954 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Jacobs Engineering Group by 7.8% in the 2nd quarter. FIL Ltd now owns 2,239,124 shares of the construction company’s stock worth $121,786,000 after buying an additional 162,167 shares during the period. 84.57% of the stock is currently owned by institutional investors.
Shares of Jacobs Engineering Group Inc (JEC) opened at $67.71 on Wednesday. Jacobs Engineering Group Inc has a 1-year low of $49.31 and a 1-year high of $69.35. The firm has a market capitalization of $8,160.00, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 1.44 and a beta of 1.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 1.56.
Several brokerages have weighed in on JEC. Zacks Investment Research upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday. ValuEngine upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Barclays began coverage on Jacobs Engineering Group in a report on Tuesday, December 12th. They issued an “overweight” rating and a $75.00 target price for the company. MKM Partners set a $61.00 target price on Jacobs Engineering Group and gave the stock a “neutral” rating in a report on Tuesday, November 28th. Finally, Argus reiterated a “buy” rating and issued a $73.00 target price on shares of Jacobs Engineering Group in a report on Monday, November 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $69.10.
In related news, Director Joseph R. Bronson sold 6,125 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total transaction of $385,936.25. Following the completion of the sale, the director now directly owns 30,496 shares in the company, valued at approximately $1,921,552.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.74% of the company’s stock.
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Jacobs Engineering Group 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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