Westpac Banking Corp reduced its holdings in Jacobs Engineering Group Inc. (NYSE:JEC) by 97.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,766 shares of the construction company’s stock after selling 333,166 shares during the period. Westpac Banking Corp’s holdings in Jacobs Engineering Group were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of JEC. Vanguard Group Inc. boosted its stake in shares of Jacobs Engineering Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 11,786,134 shares of the construction company’s stock worth $651,539,000 after acquiring an additional 446,045 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Jacobs Engineering Group by 7.8% in the first quarter. Primecap Management Co. CA now owns 8,258,797 shares of the construction company’s stock worth $456,546,000 after acquiring an additional 599,550 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Jacobs Engineering Group by 2,990.4% in the first quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock worth $436,383,000 after acquiring an additional 7,638,632 shares during the last quarter. State Street Corp boosted its stake in shares of Jacobs Engineering Group by 3.7% in the first quarter. State Street Corp now owns 5,361,210 shares of the construction company’s stock worth $296,379,000 after acquiring an additional 192,007 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Jacobs Engineering Group by 1.8% in the first quarter. FMR LLC now owns 4,566,833 shares of the construction company’s stock worth $252,455,000 after acquiring an additional 81,943 shares during the last quarter. 86.13% of the stock is currently owned by institutional investors.

Jacobs Engineering Group Inc. (NYSE JEC) opened at 55.95 on Friday. Jacobs Engineering Group Inc. has a 12 month low of $49.16 and a 12 month high of $63.42. The stock has a market cap of $6.73 billion, a P/E ratio of 29.76 and a beta of 1.52. The company’s 50-day moving average price is $53.10 and its 200-day moving average price is $53.93.

Jacobs Engineering Group (NYSE:JEC) last announced its earnings results on Tuesday, August 8th. The construction company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Jacobs Engineering Group had a return on equity of 8.67% and a net margin of 2.29%. Jacobs Engineering Group’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. 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 was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 2nd. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 31.75%.

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A number of analysts have recently issued reports on the company. BidaskClub raised Jacobs Engineering Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Citadel Securities lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $62.00 to $66.00 in a research note on Tuesday, August 8th. Citigroup Inc. lowered Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 price target on shares of Jacobs Engineering Group in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $62.30.

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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