Korea Investment CORP trimmed its position in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 95.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,600 shares of the construction company’s stock after selling 119,800 shares during the period. Korea Investment CORP’s holdings in Jacobs Engineering Group were worth $327,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Jacobs Engineering Group during the fourth quarter valued at approximately $650,000. Bessemer Group Inc. lifted its stake in 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 purchasing an additional 10,577 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Jacobs Engineering Group by 4.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,042 shares of the construction company’s stock valued at $2,458,000 after purchasing an additional 1,850 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in 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 purchasing an additional 359 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Jacobs Engineering Group by 2.0% during the fourth quarter. Northern Trust Corp now owns 1,325,633 shares of the construction company’s stock valued at $77,496,000 after purchasing an additional 25,375 shares during the last quarter. 89.10% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Thursday. Cowen set a $82.00 target price on shares of Jacobs Engineering Group and gave the company a “buy” rating in a research note on Wednesday, February 20th. MKM Partners cut their target price on shares of Jacobs Engineering Group from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, November 21st. Barclays set a $85.00 target price on shares of Jacobs Engineering Group and gave the company a “buy” rating in a research note on Tuesday, February 19th. Finally, ValuEngine raised shares of Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.71.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings results on Wednesday, February 6th. The construction company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.09. Jacobs Engineering Group had a net margin of 1.96% and a return on equity of 10.57%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was up 72.9% compared to the same quarter last year. Equities research analysts anticipate that Jacobs Engineering Group Inc will post 5.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 15th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.92%. This is a positive change from Jacobs Engineering Group’s previous quarterly dividend of $0.15. Jacobs Engineering Group’s payout ratio is currently 15.21%.
Jacobs Engineering Group declared that its board has authorized a stock buyback plan on Thursday, January 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 11.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other Jacobs Engineering Group news, SVP Michael R. Tyler sold 765 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $65.07, for a total value of $49,778.55. Following the transaction, the senior vice president now owns 27,826 shares in the company, valued at approximately $1,810,637.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Terence D. Hagen sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $72.50, for a total transaction of $507,500.00. Following the completion of the transaction, the chief operating officer now owns 62,775 shares in the company, valued at approximately $4,551,187.50. The disclosure for this sale can be found here. Insiders have sold 25,106 shares of company stock worth $1,783,892 in the last 90 days. 0.92% of the stock is owned by company insiders.
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Jacobs Engineering Group Company Profile
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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