Boston Private Wealth LLC bought a new position in shares of Jacobs Engineering Group Inc. (NYSE:J) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,513 shares of the company’s stock, valued at approximately $201,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trustcore Financial Services LLC boosted its holdings in shares of Jacobs Engineering Group by 310.0% in the 3rd quarter. Trustcore Financial Services LLC now owns 205 shares of the company’s stock valued at $27,000 after buying an additional 155 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in Jacobs Engineering Group by 170.1% in the third quarter. Berman Capital Advisors LLC now owns 289 shares of the company’s stock valued at $38,000 after acquiring an additional 182 shares in the last quarter. Old North State Trust LLC boosted its stake in Jacobs Engineering Group by 116.2% in the third quarter. Old North State Trust LLC now owns 320 shares of the company’s stock valued at $42,000 after acquiring an additional 172 shares in the last quarter. Wolff Wiese Magana LLC acquired a new position in shares of Jacobs Engineering Group during the third quarter worth $48,000. Finally, Stephenson National Bank & Trust purchased a new stake in shares of Jacobs Engineering Group during the 3rd quarter valued at $53,000. 85.66% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Steven J. Demetriou sold 98,739 shares of the company’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $145.76, for a total transaction of $14,392,196.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin C. Berryman sold 73,685 shares of the firm’s stock in a transaction that occurred on Wednesday, November 17th. The stock was sold at an average price of $145.74, for a total transaction of $10,738,851.90. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Jacobs Engineering Group (NYSE:J) last issued its quarterly earnings results on Tuesday, November 23rd. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.80 billion. Jacobs Engineering Group had a net margin of 3.38% and a return on equity of 13.57%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. On average, research analysts predict that Jacobs Engineering Group Inc. will post 7.11 earnings per share for the current fiscal year.
Several equities analysts recently commented on J shares. Robert W. Baird increased their price objective on shares of Jacobs Engineering Group from $145.00 to $161.00 and gave the company a “neutral” rating in a research report on Wednesday, November 24th. Credit Suisse Group lifted their price objective on shares of Jacobs Engineering Group from $156.00 to $162.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 24th. Raymond James assumed coverage on shares of Jacobs Engineering Group in a report on Thursday, November 18th. They set an “outperform” rating and a $170.00 price objective on the stock. Berenberg Bank lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 6th. Finally, Citigroup boosted their price target on Jacobs Engineering Group from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, November 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $162.89.
Jacobs Engineering Group Company Profile
Jacobs Engineering Group, Inc engages in the provision of a diverse range of technical, professional, and construction services to industrial, commercial, and governmental clients. The firm operates through Critical Mission Solutions, and People & Places Solutions segments. The Critical Mission Solutions provides a full spectrum of cyber, data analytics, systems and software application integration and consulting services.
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