Riverhead Capital Management LLC decreased its position in Jacobs Engineering Group Inc. (NYSE:JEC) by 51.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,234 shares of the construction company’s stock after selling 26,580 shares during the period. Riverhead Capital Management LLC’s holdings in Jacobs Engineering Group were worth $1,372,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Global X Management Co. LLC raised its holdings in Jacobs Engineering Group by 204.2% in the 1st quarter. Global X Management Co. LLC now owns 2,032 shares of the construction company’s stock valued at $112,000 after acquiring an additional 1,364 shares in the last quarter. First Manhattan Co. raised its holdings in Jacobs Engineering Group by 1,013.6% in the 2nd 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 in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Jacobs Engineering Group in the 1st quarter valued at approximately $160,000. Invictus RG bought a new stake in shares of Jacobs Engineering Group in the 1st quarter valued at approximately $178,000. Finally, Signaturefd LLC grew its stake in shares of Jacobs Engineering Group by 14.4% in the 1st quarter. Signaturefd LLC now owns 4,078 shares of the construction company’s stock valued at $225,000 after purchasing an additional 512 shares during the period. 86.11% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on JEC shares. BidaskClub upgraded Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Citigroup Inc. lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, August 4th. Zacks Investment Research upgraded Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, KeyCorp restated a “buy” rating and set a $60.00 price target on shares of Jacobs Engineering Group in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $61.89.
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Jacobs Engineering Group Inc. (JEC) opened at 57.54 on Friday. The firm has a market cap of $6.92 billion, a P/E ratio of 30.61 and a beta of 1.52. Jacobs Engineering Group Inc. has a 1-year low of $49.15 and a 1-year high of $63.42. The stock has a 50 day moving average price of $53.34 and a 200-day moving average price of $53.88.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.79 earnings per share for the quarter, meeting the consensus estimate of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities research analysts forecast that Jacobs Engineering Group Inc. will post $3.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a $0.15 dividend. The ex-dividend date was Wednesday, August 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. Jacobs Engineering Group’s dividend payout ratio is presently 31.75%.
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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