Arrow Financial Corp increased its stake in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 42.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,976 shares of the construction company’s stock after buying an additional 2,394 shares during the period. Arrow Financial Corp’s holdings in Jacobs Engineering Group were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in JEC. Global X Management Co. LLC boosted its stake in shares of Jacobs Engineering Group by 204.2% in the first quarter. Global X Management Co. LLC now owns 2,032 shares of the construction company’s stock valued at $112,000 after buying an additional 1,364 shares during the last quarter. First Manhattan Co. boosted its stake in shares of Jacobs Engineering Group by 1,013.6% in the second quarter. First Manhattan Co. now owns 2,383 shares of the construction company’s stock valued at $129,000 after buying an additional 2,169 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Jacobs Engineering Group during the first quarter valued at about $160,000. Invictus RG bought a new stake in shares of Jacobs Engineering Group during the first quarter valued at about $178,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Jacobs Engineering Group by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,226 shares of the construction company’s stock valued at $167,000 after buying an additional 158 shares during the last quarter. Institutional investors and hedge funds own 87.41% of the company’s stock.

Jacobs Engineering Group Inc. (NYSE JEC) opened at 54.22 on Thursday. Jacobs Engineering Group Inc. has a one year low of $49.15 and a one year high of $63.42. The firm’s 50 day moving average price is $53.50 and its 200 day moving average price is $54.87. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 31.52 and a beta of 1.52.

Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. Equities analysts forecast that Jacobs Engineering Group Inc. will post $3.13 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, August 2nd. Jacobs Engineering Group’s payout ratio is currently 31.75%.

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Several brokerages have recently issued reports on JEC. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, August 4th. Citigroup Inc. lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a report on Thursday, August 3rd. BidaskClub lowered Jacobs Engineering Group from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Citadel Securities lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and increased their target price for the company from $62.00 to $66.00 in a report on Tuesday. Finally, Robert W. Baird reissued a “neutral” rating and issued a $64.00 target price (up previously from $62.00) on shares of Jacobs Engineering Group in a report on Friday, May 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $61.17.

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

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