Jacobs Engineering (NYSE:J) Sees Significant Increase in Short Interest

Jacobs Engineering (NYSE:J) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,330,000 shares, an increase of 19.5% from the August 15th total of 1,950,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 826,800 shares, the short-interest ratio is presently 2.8 days.

In other Jacobs Engineering news, Director Joseph R. Bronson sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $90.08, for a total transaction of $315,280.00. Following the sale, the director now owns 28,103 shares in the company, valued at approximately $2,531,518.24. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. New England Research & Management Inc. acquired a new stake in Jacobs Engineering during the 1st quarter worth $428,000. AXA acquired a new stake in shares of Jacobs Engineering during the first quarter worth about $4,883,000. Royal Bank of Canada acquired a new stake in Jacobs Engineering in the 1st quarter valued at approximately $72,916,000. State Street Corp acquired a new stake in Jacobs Engineering in the 1st quarter valued at approximately $723,368,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in shares of Jacobs Engineering during the 1st quarter worth approximately $7,790,000. 88.46% of the stock is owned by institutional investors.

A number of equities analysts have recently weighed in on the company. Credit Suisse Group reiterated a “buy” rating and issued a $100.00 target price on shares of Jacobs Engineering in a report on Wednesday, July 29th. TheStreet raised Jacobs Engineering from a “c+” rating to a “b” rating in a research report on Monday, August 3rd. William Blair restated a “buy” rating on shares of Jacobs Engineering in a research note on Tuesday, June 2nd. Argus increased their price objective on Jacobs Engineering from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Zacks Investment Research lowered Jacobs Engineering from a “hold” rating to a “sell” rating and set a $89.00 price objective for the company. in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $102.00.

Shares of Jacobs Engineering stock traded down $0.23 on Wednesday, hitting $94.64. The company had a trading volume of 778,817 shares, compared to its average volume of 970,091. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 2.30 and a beta of 0.94. Jacobs Engineering has a 1 year low of $59.29 and a 1 year high of $104.00. The stock has a 50 day moving average of $90.19 and a 200-day moving average of $84.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.69 and a current ratio of 1.69.

Jacobs Engineering (NYSE:J) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.27. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.18 billion. Jacobs Engineering had a return on equity of 12.25% and a net margin of 4.11%. Jacobs Engineering’s revenue was up 3.1% compared to the same quarter last year. Equities analysts anticipate that Jacobs Engineering will post 5.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, July 24th were issued a $0.19 dividend. The ex-dividend date was Thursday, July 23rd. This represents a $0.76 dividend on an annualized basis and a yield of 0.80%. Jacobs Engineering’s payout ratio is 15.05%.

About Jacobs Engineering

Jacobs Engineering Group, Inc engages in the provision of a diverse range of technical, professional, and construction services to industrial, commercial, and governmental clients. Jacobs provides professional services through two lines of businesses: Critical Mission Solutions, and People and Places Solutions.

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