APG Asset Management N.V. trimmed its holdings in Jacobs Engineering Group Inc. (NYSE:JEC) by 55.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 525,409 shares of the construction company’s stock after selling 655,550 shares during the quarter. APG Asset Management N.V. owned approximately 0.44% of Jacobs Engineering Group worth $30,616,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Advisor Group Inc. increased its stake 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 valued at $117,000 after buying an additional 339 shares during the period. First Manhattan Co. grew its stake in shares of Jacobs Engineering Group by 1,013.6% during the 2nd quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock worth $129,000 after purchasing an additional 2,169 shares during the period. Bridgewater Associates LP acquired a new position in shares of Jacobs Engineering Group during the 2nd quarter worth $207,000. MPS Loria Financial Planners LLC acquired a new position in shares of Jacobs Engineering Group during the 2nd quarter worth $209,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Jacobs Engineering Group during the 2nd quarter worth $225,000. 83.33% of the stock is currently owned by institutional investors and hedge funds.
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A number of research firms have recently weighed in on JEC. Citigroup Inc. set a $64.00 price target on shares of Jacobs Engineering Group and gave the stock a “hold” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a research note on Tuesday, October 17th. Robert W. Baird reiterated a “hold” rating and issued a $63.00 price objective on shares of Jacobs Engineering Group in a research report on Friday, October 6th. BidaskClub upgraded shares of Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, KeyCorp reiterated a “buy” rating and issued a $60.00 price objective on shares of Jacobs Engineering Group in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Jacobs Engineering Group has a consensus rating of “Hold” and an average price target of $62.56.
Shares of Jacobs Engineering Group Inc. (NYSE JEC) traded down $0.21 during mid-day trading on Tuesday, hitting $59.82. 503,300 shares of the stock traded hands, compared to its average volume of 817,741. The stock has a market cap of $7,222.52, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.72 and a beta of 1.51. Jacobs Engineering Group Inc. has a 1-year low of $49.31 and a 1-year high of $63.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.60 and a current ratio of 1.60.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, October 13th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, October 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.00%. Jacobs Engineering Group’s payout ratio is currently 31.75%.
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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