BB&T Securities LLC trimmed its position in Jacobs Engineering Group Inc (NYSE:JEC) by 5.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,640 shares of the construction company’s stock after selling 211 shares during the quarter. BB&T Securities LLC’s holdings in Jacobs Engineering Group were worth $334,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in Jacobs Engineering Group by 5.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,276,187 shares of the construction company’s stock valued at $445,258,000 after buying an additional 277,316 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Jacobs Engineering Group by 178.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,914,838 shares of the construction company’s stock worth $161,593,000 after purchasing an additional 1,228,046 shares in the last quarter. Investec Asset Management LTD increased its holdings in Jacobs Engineering Group by 1.5% during the 2nd quarter. Investec Asset Management LTD now owns 1,706,150 shares of the construction company’s stock worth $143,982,000 after purchasing an additional 25,787 shares in the last quarter. Northern Trust Corp increased its holdings in Jacobs Engineering Group by 7.5% during the 2nd quarter. Northern Trust Corp now owns 1,419,038 shares of the construction company’s stock worth $119,753,000 after purchasing an additional 98,628 shares in the last quarter. Finally, Suvretta Capital Management LLC bought a new stake in Jacobs Engineering Group during the 2nd quarter worth approximately $112,951,000. 90.70% of the stock is owned by institutional investors and hedge funds.
JEC has been the subject of a number of recent research reports. Zacks Investment Research raised Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Friday, August 16th. KeyCorp boosted their price objective on Jacobs Engineering Group from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. DA Davidson boosted their price objective on Jacobs Engineering Group to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. ValuEngine lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Bank of America reissued a “buy” rating and set a $98.00 price objective on shares of Jacobs Engineering Group in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $88.89.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, October 3rd. Jacobs Engineering Group’s dividend payout ratio is presently 15.21%.
Jacobs Engineering Group 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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