Epoch Investment Partners Inc. Has $75.73 Million Position in Jacobs Engineering Group Inc (JEC)
Epoch Investment Partners Inc. lowered its stake in Jacobs Engineering Group Inc (NYSE:JEC) by 24.3% during the third quarter, HoldingsChannel reports. The firm owned 989,898 shares of the construction company’s stock after selling 317,624 shares during the period. Epoch Investment Partners Inc.’s holdings in Jacobs Engineering Group were worth $75,727,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of JEC. Alliancebernstein L.P. increased its stake in Jacobs Engineering Group by 354.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,817,462 shares of the construction company’s stock worth $139,036,000 after purchasing an additional 1,417,879 shares in the last quarter. CI Global Investments Inc. increased its stake in Jacobs Engineering Group by 27.7% in the 3rd quarter. CI Global Investments Inc. now owns 3,595,224 shares of the construction company’s stock worth $275,035,000 after purchasing an additional 779,327 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Jacobs Engineering Group by 658.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 710,289 shares of the construction company’s stock worth $45,096,000 after purchasing an additional 616,689 shares in the last quarter. Marshall Wace LLP purchased a new position in Jacobs Engineering Group in the 2nd quarter worth about $38,937,000. Finally, Millennium Management LLC increased its stake in Jacobs Engineering Group by 66.1% in the 2nd quarter. Millennium Management LLC now owns 1,332,939 shares of the construction company’s stock worth $84,628,000 after purchasing an additional 530,536 shares in the last quarter. 86.46% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Robert W. Baird lifted their target price on Jacobs Engineering Group from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, October 23rd. Zacks Investment Research cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Seaport Global Securities assumed coverage on Jacobs Engineering Group in a research note on Thursday, November 15th. They set a “buy” rating and a $91.00 target price on the stock. ValuEngine raised Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Finally, Credit Suisse Group lowered their target price on Jacobs Engineering Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $83.92.
Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Tuesday, November 20th. The construction company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Jacobs Engineering Group had a return on equity of 10.40% and a net margin of 1.19%. The firm’s quarterly revenue was up 56.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, equities analysts forecast that Jacobs Engineering Group Inc will post 5.15 earnings per share for the current year.
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About Jacobs Engineering Group
Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.
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