Sumitomo Mitsui Asset Management Company LTD reduced its position in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 10,373 shares of the construction company’s stock after selling 71 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Jacobs Engineering Group were worth $564,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Global X Management Co. LLC increased its stake in 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 worth $112,000 after buying an additional 1,364 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Jacobs Engineering Group during the first quarter worth approximately $160,000. Mn Services Vermogensbeheer B.V. increased its stake in Jacobs Engineering Group by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,226 shares of the construction company’s stock worth $167,000 after buying an additional 158 shares during the period. Invictus RG acquired a new stake in Jacobs Engineering Group during the first quarter worth approximately $178,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Jacobs Engineering Group by 0.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,601 shares of the construction company’s stock worth $199,000 after buying an additional 25 shares during the period. 87.41% of the stock is owned by institutional investors.

Shares of Jacobs Engineering Group Inc. (NYSE JEC) opened at 54.22 on Thursday. The company’s 50-day moving average price is $53.50 and its 200-day moving average price is $54.87. Jacobs Engineering Group Inc. has a 52-week low of $49.15 and a 52-week high of $63.42. The stock has a market cap of $6.53 billion, a PE ratio of 31.52 and a beta of 1.52.

Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.52 billion. Jacobs Engineering Group had a return on equity of 8.67% and a net margin of 2.29%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. Analysts expect that Jacobs Engineering Group Inc. will post $3.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, August 2nd. Jacobs Engineering Group’s payout ratio is currently 31.75%.

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Several research analysts have recently issued reports on JEC shares. Credit Suisse Group reaffirmed a “buy” rating and set a $69.00 price target on shares of Jacobs Engineering Group in a research note on Friday, April 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $61.00 price target on shares of Jacobs Engineering Group in a research note on Friday, August 4th. BidaskClub raised Jacobs Engineering Group from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Robert W. Baird reaffirmed a “neutral” rating and set a $64.00 price target (up previously from $62.00) on shares of Jacobs Engineering Group in a research note on Friday, May 12th. Finally, Citigroup Inc. downgraded 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 investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.17.

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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Institutional Ownership by Quarter for Jacobs Engineering Group (NYSE:JEC)

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