Cigna Investments Inc. New cut its stake in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 60.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,389 shares of the construction company’s stock after selling 6,633 shares during the quarter. Cigna Investments Inc. New’s holdings in Jacobs Engineering Group were worth $261,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can boosted its stake in Jacobs Engineering Group by 40.5% during the fourth quarter. Bank of Montreal Can now owns 158,040 shares of the construction company’s stock worth $10,424,000 after acquiring an additional 45,548 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Jacobs Engineering Group by 53.1% in the fourth quarter. Deutsche Bank AG now owns 515,634 shares of the construction company’s stock valued at $34,008,000 after buying an additional 178,806 shares in the last quarter. Elkfork Partners LLC bought a new position in shares of Jacobs Engineering Group in the fourth quarter valued at $1,281,000. BP PLC bought a new position in shares of Jacobs Engineering Group in the fourth quarter valued at $923,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in shares of Jacobs Engineering Group in the fourth quarter valued at $386,000. 85.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Christopher M.T. Thompson bought 4,000 shares of the stock in a transaction dated Tuesday, May 22nd. The stock was bought at an average price of $64.10 per share, for a total transaction of $256,400.00. Following the completion of the acquisition, the director now directly owns 15,318 shares in the company, valued at approximately $981,883.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.74% of the company’s stock.
Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Tuesday, May 8th. The construction company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.13. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.60 billion. Jacobs Engineering Group had a net margin of 1.97% and a return on equity of 8.76%. The firm’s revenue for the quarter was up 70.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. equities research analysts anticipate that Jacobs Engineering Group Inc will post 4.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, May 18th will be issued a $0.15 dividend. The ex-dividend date is Thursday, May 17th. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. Jacobs Engineering Group’s dividend payout ratio is currently 18.52%.
A number of research analysts have weighed in on JEC shares. UBS set a $86.00 price objective on shares of Jacobs Engineering Group and gave the company a “buy” rating in a research note on Thursday, March 29th. Deutsche Bank raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $72.00 to $73.00 in a research note on Thursday, March 29th. MKM Partners raised shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, March 28th. Barclays raised their price objective on shares of Jacobs Engineering Group from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Jacobs Engineering Group in a research note on Wednesday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Jacobs Engineering Group currently has an average rating of “Buy” and an average target price of $75.54.
Jacobs Engineering Group Profile
Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.
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