Northwestern Mutual Investment Management Company LLC reduced its holdings in Jacobs Engineering Group Inc. (NYSE:JEC) by 81.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,657 shares of the construction company’s stock after selling 19,817 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Jacobs Engineering Group were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Jacobs Engineering Group by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 11,786,134 shares of the construction company’s stock valued at $651,539,000 after buying an additional 446,045 shares during the last quarter. Primecap Management Co. CA increased its stake in Jacobs Engineering Group by 7.8% in the 1st quarter. Primecap Management Co. CA now owns 8,258,797 shares of the construction company’s stock valued at $456,546,000 after buying an additional 599,550 shares during the last quarter. BlackRock Inc. increased its stake in Jacobs Engineering Group by 2,990.4% in the 1st quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock valued at $436,383,000 after buying an additional 7,638,632 shares during the last quarter. State Street Corp increased its stake in Jacobs Engineering Group by 3.7% in the 1st quarter. State Street Corp now owns 5,361,210 shares of the construction company’s stock valued at $296,379,000 after buying an additional 192,007 shares during the last quarter. Finally, FMR LLC increased its stake in Jacobs Engineering Group by 1.8% in the 1st quarter. FMR LLC now owns 4,566,833 shares of the construction company’s stock valued at $252,455,000 after buying an additional 81,943 shares during the last quarter. Hedge funds and other institutional investors own 86.11% of the company’s stock.

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Shares of Jacobs Engineering Group Inc. (JEC) opened at 56.85 on Wednesday. The company has a market cap of $6.84 billion, a P/E ratio of 30.24 and a beta of 1.52. Jacobs Engineering Group Inc. has a 12-month low of $49.15 and a 12-month high of $63.42. The firm has a 50-day moving average of $53.34 and a 200-day moving average of $53.88.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.60 annualized dividend and a dividend yield of 1.06%. Jacobs Engineering Group’s payout ratio is 31.75%.

Several research analysts have recently weighed in on the stock. BidaskClub lowered shares of Jacobs Engineering Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. 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. Jefferies Group LLC restated a “hold” rating and set a $61.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, August 4th. Citigroup Inc. lowered shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Thursday, August 3rd. Finally, KeyCorp restated a “buy” rating and set a $60.00 price objective on shares of Jacobs Engineering Group in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.89.

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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