Jacobs Engineering Group (NYSE:JEC) Hits New 1-Year High After Dividend Announcement

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Jacobs Engineering Group Inc (NYSE:JEC)’s share price hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $85.23 and last traded at $85.16, with a volume of 9865 shares changing hands. The stock had previously closed at $84.05.

The newly announced dividend which will be paid on Friday, August 23rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.80%. Jacobs Engineering Group’s dividend payout ratio is currently 15.21%.

JEC has been the subject of a number of analyst reports. KeyCorp reiterated a “buy” rating and set a $65.00 target price on shares of Talend in a report on Wednesday, May 8th. Barclays restated a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. MKM Partners set a $87.00 price objective on shares of Jacobs Engineering Group and gave the stock a “buy” rating in a report on Tuesday, March 19th. Cowen restated an “outperform” rating and issued a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Finally, Zacks Investment Research lowered shares of Farmers & Merchants Bancorp, Inc. (OH) from a “hold” rating to a “strong sell” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $84.55.

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a fifty day moving average price of $80.40. The company has a market cap of $11.48 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.49 and a beta of 1.42.

Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Tuesday, May 7th. The construction company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.10. Jacobs Engineering Group had a net margin of 2.13% and a return on equity of 11.16%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts anticipate that Jacobs Engineering Group Inc will post 4.7 earnings per share for the current fiscal year.

In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 650 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.69, for a total transaction of $49,198.50. Following the completion of the transaction, the senior vice president now owns 25,844 shares of the company’s stock, valued at $1,956,132.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph R. Bronson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $76.45, for a total transaction of $764,500.00. Following the transaction, the director now directly owns 35,302 shares of the company’s stock, valued at approximately $2,698,837.90. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in JEC. Raymond James & Associates increased its stake in shares of Jacobs Engineering Group by 1.8% during the fourth quarter. Raymond James & Associates now owns 36,707 shares of the construction company’s stock valued at $2,146,000 after purchasing an additional 665 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Jacobs Engineering Group by 9.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,254 shares of the construction company’s stock valued at $658,000 after purchasing an additional 1,004 shares in the last quarter. Advisor Group Inc. increased its position in shares of Jacobs Engineering Group by 83.0% during the fourth quarter. Advisor Group Inc. now owns 7,624 shares of the construction company’s stock valued at $445,000 after acquiring an additional 3,459 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Jacobs Engineering Group by 0.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 79,691 shares of the construction company’s stock valued at $4,430,000 after acquiring an additional 359 shares in the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Jacobs Engineering Group by 1,493.9% during the fourth quarter. Bessemer Group Inc. now owns 11,285 shares of the construction company’s stock valued at $660,000 after acquiring an additional 10,577 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

About Jacobs Engineering Group (NYSE:JEC)

Jacobs Engineering Group Inc provides technical, professional, and construction services. The company's Aerospace, Technology, Environmental and Nuclear segment offers scientific, engineering, construction, nuclear, environmental, and technical support services to the aerospace, defense, technical, and automotive industries.

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