South Texas Money Management Ltd. Takes $211,000 Position in Jacobs Engineering Group Inc (JEC)

South Texas Money Management Ltd. acquired a new position in shares of Jacobs Engineering Group Inc (NYSE:JEC) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,800 shares of the construction company’s stock, valued at approximately $211,000.

Other institutional investors also recently made changes to their positions in the company. First Manhattan Co. raised its stake in shares of Jacobs Engineering Group by 115.9% during the 1st quarter. First Manhattan Co. now owns 462 shares of the construction company’s stock worth $34,000 after purchasing an additional 248 shares in the last quarter. Citizens Financial Group Inc RI bought a new stake in shares of Jacobs Engineering Group during the 4th quarter worth approximately $28,000. CSat Investment Advisory L.P. raised its stake in shares of Jacobs Engineering Group by 86.9% during the 4th quarter. CSat Investment Advisory L.P. now owns 600 shares of the construction company’s stock worth $35,000 after purchasing an additional 279 shares in the last quarter. Ipswich Investment Management Co. Inc. bought a new stake in shares of Jacobs Engineering Group during the 4th quarter worth approximately $47,000. Finally, National Pension Service bought a new stake in shares of Jacobs Engineering Group during the 3rd quarter worth approximately $164,000. Institutional investors own 88.94% of the company’s stock.

JEC opened at $77.11 on Wednesday. Jacobs Engineering Group Inc has a 1-year low of $55.17 and a 1-year high of $82.24. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.66 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45.

Jacobs Engineering Group (NYSE:JEC) last posted its quarterly earnings results on Wednesday, February 6th. The construction company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was up 72.9% on a year-over-year basis. As a group, equities analysts expect that Jacobs Engineering Group Inc will post 5.28 earnings per share for the current year.

Jacobs Engineering Group declared that its Board of Directors has approved a share repurchase plan on Thursday, January 17th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 11.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In other Jacobs Engineering Group news, COO Terence D. Hagen sold 7,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $72.50, for a total value of $507,500.00. Following the transaction, the chief operating officer now directly owns 62,775 shares of the company’s stock, valued at approximately $4,551,187.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael R. Tyler sold 15,792 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $71.25, for a total value of $1,125,180.00. Following the completion of the transaction, the senior vice president now directly owns 30,826 shares in the company, valued at $2,196,352.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,889 shares of company stock worth $2,688,936. 0.92% of the stock is owned by company insiders.

JEC has been the topic of a number of analyst reports. Robert W. Baird reiterated a “buy” rating and set a $73.00 price objective on shares of Jacobs Engineering Group in a research note on Monday, January 7th. Cowen initiated coverage on Jacobs Engineering Group in a research note on Monday, January 28th. They set an “outperform” rating and a $77.00 price objective on the stock. Zacks Investment Research upgraded Jacobs Engineering Group from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Wednesday, January 30th. Seaport Global Securities reiterated a “buy” rating and set a $86.00 price objective on shares of Jacobs Engineering Group in a research note on Wednesday, February 6th. Finally, DA Davidson dropped their price objective on Jacobs Engineering Group to $86.00 and set a “buy” rating on the stock in a research note on Thursday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $82.34.

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Jacobs Engineering Group Company Profile

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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