OppenheimerFunds Inc. trimmed its holdings in Jacobs Engineering Group Inc (NYSE:JEC) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,873 shares of the construction company’s stock after selling 2,201 shares during the period. OppenheimerFunds Inc.’s holdings in Jacobs Engineering Group were worth $1,509,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Cerebellum GP LLC acquired a new position in Jacobs Engineering Group during the 4th quarter worth approximately $127,000. Tower Research Capital LLC TRC bought a new stake in shares of Jacobs Engineering Group in the 4th quarter valued at approximately $131,000. Jarislowsky Fraser Ltd bought a new stake in shares of Jacobs Engineering Group in the 3rd quarter valued at approximately $186,000. Virtu Financial LLC bought a new stake in shares of Jacobs Engineering Group in the 4th quarter valued at approximately $200,000. Finally, Cadence Capital Management LLC bought a new stake in shares of Jacobs Engineering Group in the 4th quarter valued at approximately $215,000. 82.20% of the stock is currently owned by hedge funds and other institutional investors.
JEC has been the subject of a number of analyst reports. Zacks Investment Research lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Thursday, November 23rd. Argus restated a “buy” rating and issued a $73.00 price objective on shares of Jacobs Engineering Group in a report on Monday, November 27th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating and issued a $82.00 price objective on shares of Jacobs Engineering Group in a report on Thursday, January 18th. Barclays upped their price objective on Jacobs Engineering Group from $75.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, ValuEngine upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $74.00.
Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.56 billion. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. Jacobs Engineering Group’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. research analysts anticipate that Jacobs Engineering Group Inc will post 4.01 EPS for the current fiscal year.
The business 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 dividend payout ratio (DPR) is presently 30.77%.
Jacobs Engineering Group 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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