OLD National Bancorp IN increased its holdings in Jacobs Engineering Group Inc (NYSE:JEC) by 13.3% during the fourth quarter, HoldingsChannel reports. The firm owned 7,741 shares of the construction company’s stock after acquiring an additional 907 shares during the quarter. OLD National Bancorp IN’s holdings in Jacobs Engineering Group were worth $510,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC purchased a new position in Jacobs Engineering Group in the 4th quarter worth approximately $127,000. Whittier Trust Co. lifted its holdings in Jacobs Engineering Group by 141.2% in the 3rd quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after purchasing an additional 1,200 shares in the last quarter. Advisor Group Inc. lifted its holdings in Jacobs Engineering Group by 18.8% in the 2nd quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after purchasing an additional 339 shares in the last quarter. Jarislowsky Fraser Ltd purchased a new position in Jacobs Engineering Group in the 3rd quarter worth approximately $186,000. Finally, Cadence Capital Management LLC purchased a new position in Jacobs Engineering Group in the 4th quarter worth approximately $215,000. 71.51% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on the company. Barclays assumed coverage on Jacobs Engineering Group in a report on Tuesday, December 12th. They issued an “overweight” rating and a $75.00 price target on the stock. UBS Group raised Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Monday, January 29th. Robert W. Baird set a $75.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a report on Wednesday, February 7th. Jefferies Group set a $70.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a report on Wednesday, February 7th. Finally, MKM Partners set a $61.00 price objective on Jacobs Engineering Group and gave the stock a “neutral” rating in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.00.
Jacobs Engineering Group (NYSE:JEC) last released its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.56 billion. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. analysts forecast that Jacobs Engineering Group Inc will post 4.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 15th. Jacobs Engineering Group’s dividend payout ratio is currently 30.77%.
In other news, Director Joseph R. Bronson sold 6,125 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 30,496 shares of the company’s stock, valued at approximately $1,921,552.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.74% of the company’s stock.
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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