Citigroup Inc. Grows Position in Jacobs Engineering Group Inc. (JEC)
Citigroup Inc. lifted its stake in Jacobs Engineering Group Inc. (NYSE:JEC) by 5,099.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,041 shares of the construction company’s stock after buying an additional 97,962 shares during the period. Citigroup Inc. owned about 0.08% of Jacobs Engineering Group worth $5,224,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global X Management Co. LLC lifted 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 period. First Manhattan Co. lifted 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 period. Ameritas Investment Partners Inc. bought a new stake in shares of Jacobs Engineering Group in the first quarter valued at about $160,000. Invictus RG bought a new stake in shares of Jacobs Engineering Group in the first quarter valued at about $178,000. Finally, Bridgewater Associates LP bought a new stake in shares of Jacobs Engineering Group in the second quarter valued at about $207,000. Institutional investors and hedge funds own 86.11% of the company’s stock.
Shares of Jacobs Engineering Group Inc. (NYSE:JEC) opened at 57.54 on Friday. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 30.61 and a beta of 1.52. The stock’s 50 day moving average is $53.34 and its 200 day moving average is $53.88. Jacobs Engineering Group Inc. has a 12-month low of $49.15 and a 12-month high of $63.42.
Jacobs Engineering Group (NYSE:JEC) last issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.79 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. The firm’s quarterly revenue was down 6.6% on a year-over-year basis. Equities analysts expect that Jacobs Engineering Group Inc. will post $3.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders 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 dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 2nd. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 31.75%.
Several research firms recently weighed in on JEC. BidaskClub upgraded shares of Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Jefferies Group LLC restated a “hold” rating and set a $61.00 price target on shares of Jacobs Engineering Group in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. KeyCorp restated a “buy” rating and set a $60.00 price target on shares of Jacobs Engineering Group in a research note on Friday, August 25th. Finally, Citigroup Inc. cut shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.89.
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Jacobs Engineering Group Company Profile
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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