Lipe & Dalton lessened its holdings in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,927 shares of the construction company’s stock after selling 4,551 shares during the quarter. Jacobs Engineering Group makes up about 2.0% of Lipe & Dalton’s portfolio, making the stock its 21st biggest holding. Lipe & Dalton’s holdings in Jacobs Engineering Group were worth $2,777,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Citizens Financial Group Inc RI purchased a new stake in Jacobs Engineering Group in the 4th quarter valued at about $28,000. First Manhattan Co. increased its stake in Jacobs Engineering Group by 115.9% during the first quarter. First Manhattan Co. now owns 462 shares of the construction company’s stock worth $34,000 after purchasing an additional 248 shares during the period. CSat Investment Advisory L.P. increased its stake in Jacobs Engineering Group by 86.9% during the fourth quarter. CSat Investment Advisory L.P. now owns 600 shares of the construction company’s stock worth $35,000 after purchasing an additional 279 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Jacobs Engineering Group during the first quarter worth about $45,000. Finally, Ipswich Investment Management Co. Inc. purchased a new stake in Jacobs Engineering Group during the fourth quarter worth about $47,000. 95.23% of the stock is currently owned by institutional investors.
NYSE:JEC traded up $0.65 during trading hours on Friday, hitting $75.85. The company’s stock had a trading volume of 698,526 shares, compared to its average volume of 1,211,818. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.63 and a beta of 1.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.52 and a current ratio of 1.52. Jacobs Engineering Group Inc has a 52-week low of $55.17 and a 52-week high of $82.24.
Jacobs Engineering Group (NYSE:JEC) last released its quarterly earnings data on Tuesday, May 7th. The construction company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.10. Jacobs Engineering Group had a return on equity of 11.16% and a net margin of 2.13%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. Jacobs Engineering Group’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Jacobs Engineering Group Inc will post 4.69 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, May 16th. Jacobs Engineering Group’s dividend payout ratio is currently 15.21%.
In other news, SVP Michael R. Tyler sold 676 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $74.67, for a total value of $50,476.92. Following the completion of the transaction, the senior vice president now owns 27,150 shares in the company, valued at $2,027,290.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Terence D. Hagen sold 12,000 shares of the stock in a transaction on Friday, March 29th. The shares were sold at an average price of $75.50, for a total value of $906,000.00. Following the sale, the chief operating officer now directly owns 74,775 shares in the company, valued at approximately $5,645,512.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,982 shares of company stock valued at $1,820,176. Company insiders own 0.92% of the company’s stock.
A number of analysts have issued reports on the stock. Zacks Investment Research lowered shares of Jacobs Engineering Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 9th. KeyCorp upped their target price on shares of Jacobs Engineering Group from $82.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Barclays restated an “overweight” rating and set a $85.00 target price on shares of Jacobs Engineering Group in a research note on Tuesday, April 30th. Cowen restated a “buy” rating and set a $92.00 target price on shares of Jacobs Engineering Group in a research note on Wednesday, April 24th. Finally, MKM Partners set a $87.00 target price on shares of Jacobs Engineering Group and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Jacobs Engineering Group has a consensus rating of “Buy” and an average price target of $84.55.
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About Jacobs Engineering Group
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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