Prio Wealth Limited Partnership Has $357,000 Position in Jacobs Engineering Group Inc (JEC)

Prio Wealth Limited Partnership lessened its stake in shares of Jacobs Engineering Group Inc (NYSE:JEC) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,116 shares of the construction company’s stock after selling 163 shares during the period. Prio Wealth Limited Partnership’s holdings in Jacobs Engineering Group were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc increased its holdings in shares of Jacobs Engineering Group by 0.8% in the 3rd quarter. Vanguard Group Inc now owns 13,850,966 shares of the construction company’s stock worth $1,059,598,000 after purchasing an additional 107,375 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Jacobs Engineering Group by 1.2% in the 3rd quarter. BlackRock Inc. now owns 8,379,897 shares of the construction company’s stock worth $641,064,000 after purchasing an additional 103,039 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Jacobs Engineering Group by 5,218.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,093,344 shares of the construction company’s stock worth $104,000 after purchasing an additional 5,978,776 shares in the last quarter. FMR LLC increased its holdings in shares of Jacobs Engineering Group by 3.6% in the 3rd quarter. FMR LLC now owns 4,309,847 shares of the construction company’s stock worth $329,703,000 after purchasing an additional 151,132 shares in the last quarter. Finally, CI Global Investments Inc. increased its holdings in shares of Jacobs Engineering Group by 27.7% in the 3rd quarter. CI Global Investments Inc. now owns 3,595,224 shares of the construction company’s stock worth $275,035,000 after purchasing an additional 779,327 shares in the last quarter. 90.43% of the stock is owned by institutional investors.

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A number of analysts have commented on the company. Citigroup raised Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a report on Monday, October 22nd. Robert W. Baird reissued a “buy” rating and issued a $80.00 target price on shares of Jacobs Engineering Group in a report on Wednesday, November 21st. Zacks Investment Research lowered Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Barclays reissued a “buy” rating and issued a $83.00 target price on shares of Jacobs Engineering Group in a report on Thursday, October 18th. Finally, MKM Partners reduced their target price on Jacobs Engineering Group from $84.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, November 21st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $81.64.

Shares of JEC opened at $67.58 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.58 and a quick ratio of 1.58. Jacobs Engineering Group Inc has a one year low of $55.17 and a one year high of $82.24. The firm has a market capitalization of $9.44 billion, a P/E ratio of 15.12, a PEG ratio of 1.30 and a beta of 1.38.

Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings data on Wednesday, February 6th. The construction company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Jacobs Engineering Group had a return on equity of 10.57% and a net margin of 1.96%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. Jacobs Engineering Group’s revenue was up 72.9% compared to the same quarter last year. Equities research analysts predict that Jacobs Engineering Group Inc will post 5.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.01%. This is a positive change from Jacobs Engineering Group’s previous quarterly dividend of $0.15. Jacobs Engineering Group’s payout ratio is presently 13.42%.

Jacobs Engineering Group declared that its board has authorized a stock buyback plan on Thursday, January 17th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 11.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, SVP Michael R. Tyler sold 873 shares of Jacobs Engineering Group stock in a transaction on Friday, January 4th. The stock was sold at an average price of $58.37, for a total value of $50,957.01. Following the completion of the sale, the senior vice president now owns 28,935 shares of the company’s stock, valued at $1,688,935.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael R. Tyler sold 765 shares of Jacobs Engineering Group stock in a transaction on Monday, February 4th. The stock was sold at an average price of $65.07, for a total value of $49,778.55. Following the completion of the sale, the senior vice president now directly owns 27,826 shares of the company’s stock, valued at approximately $1,810,637.82. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

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About Jacobs Engineering Group

Jacobs Engineering Group Inc provides technical, professional, and construction services. The company's Aerospace, Technology, Environmental and Nuclear segment offers scientific, engineering, construction, nuclear, environmental, and technical support services to the aerospace, defense, technical, and automotive industries.

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Institutional Ownership by Quarter for Jacobs Engineering Group (NYSE:JEC)

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