M&T Bank Corp decreased its stake in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 7.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,214 shares of the construction company’s stock after selling 1,996 shares during the quarter. M&T Bank Corp’s holdings in Jacobs Engineering Group were worth $1,532,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in JEC. Advisor Group Inc. increased its position in Jacobs Engineering Group by 18.8% during the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock worth $117,000 after buying an additional 339 shares in the last quarter. Whittier Trust Co. increased its position in Jacobs Engineering Group by 141.2% during the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock worth $119,000 after buying an additional 1,200 shares in the last quarter. Cerebellum GP LLC purchased a new position in Jacobs Engineering Group during the fourth quarter worth $127,000. Jarislowsky Fraser Ltd purchased a new position in Jacobs Engineering Group during the third quarter worth $186,000. Finally, Palisade Capital Management LLC NJ purchased a new position in Jacobs Engineering Group during the third quarter worth $206,000. 71.51% of the stock is owned by institutional investors.
In related news, Director Joseph R. Bronson sold 6,125 shares of Jacobs Engineering Group stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $63.01, for a total value of $385,936.25. Following the transaction, the director now owns 30,496 shares in the company, valued at $1,921,552.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.74% of the stock is currently owned by company insiders.
Several equities research analysts have recently issued reports on JEC shares. Alembic Global Advisors restated a “buy” rating on shares of Jacobs Engineering Group in a report on Monday, February 12th. Bank of America raised their price objective on Jacobs Engineering Group from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Jefferies Group set a $70.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a report on Wednesday, February 7th. Robert W. Baird set a $75.00 price objective on Jacobs Engineering Group and gave the stock a “hold” rating in a report on Wednesday, February 7th. Finally, Citigroup raised their price objective on Jacobs Engineering Group from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, February 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $74.00.
Jacobs Engineering Group Inc (NYSE:JEC) opened at $63.19 on Friday. Jacobs Engineering Group Inc has a fifty-two week low of $49.31 and a fifty-two week high of $72.18. The firm has a market capitalization of $8,952.19, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.18 and a beta of 1.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48.
Jacobs Engineering Group (NYSE:JEC) last issued its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Jacobs Engineering Group had a return on equity of 8.59% and a net margin of 2.30%. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts forecast that Jacobs Engineering Group Inc will post 4.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, February 16th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 15th. Jacobs Engineering Group’s payout ratio is currently 30.77%.
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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.
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