Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 62.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,892 shares of the construction company’s stock after selling 166,321 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.07% of Jacobs Engineering Group worth $7,642,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Shell Asset Management Co. grew its stake in Jacobs Engineering Group by 15.1% in the 3rd quarter. Shell Asset Management Co. now owns 33,233 shares of the construction company’s stock valued at $2,542,000 after acquiring an additional 4,370 shares during the last quarter. Alambic Investment Management L.P. acquired a new stake in Jacobs Engineering Group in the 3rd quarter valued at about $857,000. Pinnacle Associates Ltd. acquired a new stake in Jacobs Engineering Group in the 3rd quarter valued at about $219,000. Credit Suisse AG grew its stake in Jacobs Engineering Group by 15.9% in the 3rd quarter. Credit Suisse AG now owns 223,664 shares of the construction company’s stock valued at $17,110,000 after acquiring an additional 30,676 shares during the last quarter. Finally, FMR LLC grew its stake in Jacobs Engineering Group by 3.6% in the 3rd quarter. FMR LLC now owns 4,309,847 shares of the construction company’s stock valued at $329,703,000 after acquiring an additional 151,132 shares during the last quarter. 86.46% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently commented on JEC. Citigroup raised shares of Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 price objective on the stock in a research note on Monday, October 22nd. Robert W. Baird reissued a “buy” rating and issued a $80.00 price objective on shares of Jacobs Engineering Group in a research note on Wednesday, November 21st. MKM Partners increased their price objective on shares of Jacobs Engineering Group to $84.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Zacks Investment Research cut shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 22nd. Finally, Barclays reissued a “buy” rating and issued a $83.00 price objective on shares of Jacobs Engineering Group in a research note on Thursday, October 18th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.92.
NYSE:JEC opened at $59.78 on Friday. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.23 and a beta of 1.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.45 and a current ratio of 1.45. Jacobs Engineering Group Inc has a 12-month low of $55.21 and a 12-month high of $82.24.
Jacobs Engineering Group (NYSE:JEC) last released its earnings results on Tuesday, November 20th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.27 billion. Jacobs Engineering Group had a net margin of 1.19% and a return on equity of 10.40%. The firm’s quarterly revenue was up 56.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Analysts forecast that Jacobs Engineering Group Inc will post 5.15 earnings per share for the current year.
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About Jacobs Engineering Group
Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.
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