Cushing Asset Management LP cut its stake in Jacobs Engineering Group Inc (NYSE:JEC) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,053 shares of the construction company’s stock after selling 34,949 shares during the period. Cushing Asset Management LP owned 0.14% of Jacobs Engineering Group worth $13,064,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in Jacobs Engineering Group in the fourth quarter valued at approximately $127,000. Tower Research Capital LLC TRC bought a new stake in Jacobs Engineering Group in the fourth quarter valued at approximately $131,000. Jarislowsky Fraser Ltd bought a new stake in Jacobs Engineering Group in the third quarter valued at approximately $186,000. Virtu Financial LLC bought a new stake in Jacobs Engineering Group in the fourth quarter valued at approximately $200,000. Finally, Cadence Capital Management LLC bought a new stake in Jacobs Engineering Group in the fourth quarter valued at approximately $215,000. Institutional investors and hedge funds own 82.20% of the company’s stock.
Jacobs Engineering Group Inc (NYSE JEC) opened at $60.11 on Wednesday. Jacobs Engineering Group Inc has a 12 month low of $49.31 and a 12 month high of $72.18. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $8,561.20, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.13 and a beta of 1.54.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Friday, February 16th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, February 15th. Jacobs Engineering Group’s payout ratio is 30.77%.
JEC has been the topic of several analyst reports. Robert W. Baird reiterated a “hold” rating and issued a $69.00 target price on shares of Jacobs Engineering Group in a report on Friday, November 24th. Barclays initiated coverage on Jacobs Engineering Group in a report on Tuesday, December 12th. They issued an “overweight” rating and a $75.00 target price on the stock. Credit Suisse Group reissued a “buy” rating on shares of Jacobs Engineering Group in a research note on Wednesday, February 28th. Zacks Investment Research lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Finally, KeyCorp boosted their price target on Jacobs Engineering Group from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $74.00.
Jacobs Engineering Group Company Profile
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.
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