Jacobs Engineering Group Inc. (JEC) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its stake in Jacobs Engineering Group Inc. (NYSE:JEC) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,575 shares of the construction company’s stock after selling 930 shares during the period. South Dakota Investment Council owned approximately 0.11% of Jacobs Engineering Group worth $7,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in Jacobs Engineering Group by 25.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,439 shares of the construction company’s stock worth $1,130,000 after purchasing an additional 4,135 shares during the last quarter. Greenwood Capital Associates LLC increased its holdings in shares of Jacobs Engineering Group by 6.4% during the second quarter. Greenwood Capital Associates LLC now owns 7,847 shares of the construction company’s stock worth $427,000 after buying an additional 470 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Jacobs Engineering Group by 6.0% during the second quarter. Legal & General Group Plc now owns 715,762 shares of the construction company’s stock worth $38,928,000 after buying an additional 40,249 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Jacobs Engineering Group by 2,990.4% during the first quarter. BlackRock Inc. now owns 7,894,069 shares of the construction company’s stock worth $436,383,000 after buying an additional 7,638,632 shares in the last quarter. Finally, LMR Partners LLP increased its holdings in shares of Jacobs Engineering Group by 201.5% during the second quarter. LMR Partners LLP now owns 12,659 shares of the construction company’s stock worth $689,000 after buying an additional 8,460 shares in the last quarter. Hedge funds and other institutional investors own 86.13% of the company’s stock.

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JEC has been the subject of a number of recent research reports. BidaskClub downgraded Jacobs Engineering Group from a “sell” rating to a “strong sell” rating in a report on Friday, June 23rd. KeyCorp reiterated a “buy” rating and set a $60.00 price target on shares of Jacobs Engineering Group in a report on Friday, August 25th. Citigroup Inc. cut 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 report on Thursday, August 3rd. Citadel Securities cut shares of Jacobs Engineering Group from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $62.00 to $66.00 in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $61.00 price objective on shares of Jacobs Engineering Group in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Jacobs Engineering Group has an average rating of “Hold” and an average target price of $62.30.

Shares of Jacobs Engineering Group Inc. (NYSE:JEC) traded down 0.13% on Friday, reaching $55.72. 215,995 shares of the company’s stock traded hands. The firm’s 50-day moving average is $53.02 and its 200-day moving average is $53.93. 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 $6.70 billion, a price-to-earnings ratio of 29.64 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, meeting the Zacks’ consensus estimate of $0.79. Jacobs Engineering Group had a net margin of 2.29% and a return on equity of 8.67%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Jacobs Engineering Group’s quarterly revenue was down 6.6% on a year-over-year basis. Analysts anticipate that Jacobs Engineering Group Inc. will post $3.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders 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 yield of 1.08%. Jacobs Engineering Group’s dividend payout ratio is currently 31.75%.

About Jacobs Engineering Group

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.

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

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