Pictet Asset Management Ltd. lessened its holdings in Jacobs Engineering Group Inc. (NYSE:JEC) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,233 shares of the construction company’s stock after selling 6,600 shares during the period. Pictet Asset Management Ltd.’s holdings in Jacobs Engineering Group were worth $3,452,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. grew its position in Jacobs Engineering Group by 141.2% in the third quarter. Whittier Trust Co. now owns 2,050 shares of the construction company’s stock valued at $119,000 after acquiring an additional 1,200 shares during the last quarter. Advisor Group Inc. grew its position in Jacobs Engineering Group by 18.8% in the second quarter. Advisor Group Inc. now owns 2,140 shares of the construction company’s stock valued at $117,000 after acquiring an additional 339 shares during the last quarter. First Manhattan Co. grew its position in 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 acquiring an additional 2,169 shares during the last quarter. Bridgewater Associates LP bought a new position in Jacobs Engineering Group in the second quarter valued at about $207,000. Finally, MPS Loria Financial Planners LLC bought a new position in Jacobs Engineering Group in the second quarter valued at about $209,000. Hedge funds and other institutional investors own 83.33% of the company’s stock.
Shares of Jacobs Engineering Group Inc. (JEC) opened at $60.03 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $7,222.52, a PE ratio of 19.88, a PEG ratio of 1.72 and a beta of 1.51. Jacobs Engineering Group Inc. has a 12 month low of $49.31 and a 12 month high of $63.42.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 13th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, October 12th. Jacobs Engineering Group’s dividend payout ratio is currently 31.75%.
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A number of research analysts have issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $61.00 target price on shares of Jacobs Engineering Group in a research report on Friday, August 4th. KeyCorp reiterated a “buy” rating and issued a $60.00 target price on shares of Jacobs Engineering Group in a research report on Friday, August 25th. BidaskClub cut Jacobs Engineering Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Zacks Investment Research raised Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Citigroup Inc. set a $64.00 price target on Jacobs Engineering Group and gave the company a “hold” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $62.56.
Jacobs Engineering Group 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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