Jacobs Engineering Group Inc. (JEC) Short Interest Update
Jacobs Engineering Group Inc. (NYSE:JEC) was the target of a significant drop in short interest in October. As of October 13th, there was short interest totalling 1,252,376 shares, a drop of 37.7% from the September 29th total of 2,009,678 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 534,545 shares, the days-to-cover ratio is presently 2.3 days.
Jacobs Engineering Group (NYSE JEC) opened at 58.21 on Wednesday. Jacobs Engineering Group has a one year low of $49.16 and a one year high of $63.42. The company has a 50-day moving average price of $58.01 and a 200-day moving average price of $54.60. The stock has a market cap of $7.00 billion, a P/E ratio of 30.96 and a beta of 1.53.
Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. Jacobs Engineering Group had a return on equity of 8.67% and a net margin of 2.29%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. On average, analysts anticipate that Jacobs Engineering Group will post $3.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 13th will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. Jacobs Engineering Group’s payout ratio is presently 31.75%.
Several institutional investors have recently bought and sold shares of JEC. Advisor Group Inc. increased its stake in shares of Jacobs Engineering Group by 18.8% in the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after purchasing an additional 339 shares during the period. Whittier Trust Co. increased its stake in shares of Jacobs Engineering Group by 141.2% in the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after purchasing an additional 1,200 shares during the period. First Manhattan Co. increased its stake in shares of Jacobs Engineering Group by 1,013.6% in the second 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. Palisade Capital Management LLC NJ bought a new position in shares of Jacobs Engineering Group in the third quarter worth about $206,000. Finally, Bridgewater Associates LP bought a new position in shares of Jacobs Engineering Group in the second quarter worth about $207,000. Institutional investors and hedge funds own 85.82% of the company’s stock.
JEC has been the subject of a number of recent research reports. Robert W. Baird reiterated a “hold” rating and issued a $63.00 target price on shares of Jacobs Engineering Group in a research note on Friday, October 6th. BidaskClub upgraded Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research note on Tuesday, October 17th. Citigroup Inc. lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Thursday, August 3rd. Finally, KeyCorp reiterated a “buy” rating and issued a $60.00 target price on shares of Jacobs Engineering Group in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Jacobs Engineering Group currently has a consensus rating of “Hold” and an average price target of $62.56.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/11/01/jacobs-engineering-group-inc-jec-short-interest-update.html.
About Jacobs Engineering Group
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.
Receive News & Ratings for Jacobs Engineering Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Engineering Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.