TCW Group Inc. cut its stake in shares of Jacobs Engineering Group Inc. (NYSE:JEC) by 5.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 71,752 shares of the company’s stock after selling 4,049 shares during the period. TCW Group Inc.’s holdings in Jacobs Engineering Group were worth $4,090,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Baldwin Brothers Inc. MA purchased a new position in shares of Jacobs Engineering Group during the third quarter valued at about $129,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Jacobs Engineering Group by 40.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,800 shares of the company’s stock valued at $145,000 after buying an additional 800 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Jacobs Engineering Group by 10.7% in the third quarter. Daiwa Securities Group Inc. now owns 3,100 shares of the company’s stock valued at $160,000 after buying an additional 300 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Jacobs Engineering Group by 112.2% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,196 shares of the company’s stock valued at $165,000 after buying an additional 1,690 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Jacobs Engineering Group during the third quarter valued at about $172,000. 85.02% of the stock is owned by institutional investors and hedge funds.
Shares of Jacobs Engineering Group Inc. (NYSE:JEC) traded down 0.03% on Tuesday, hitting $57.43. The company’s stock had a trading volume of 338,885 shares. The stock’s 50 day moving average price is $58.24 and its 200 day moving average price is $55.19. Jacobs Engineering Group Inc. has a 52 week low of $34.95 and a 52 week high of $63.42. The stock has a market capitalization of $6.95 billion, a P/E ratio of 31.04 and a beta of 1.66.
Jacobs Engineering Group (NYSE:JEC) last posted its earnings results on Wednesday, February 8th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.05. Jacobs Engineering Group had a net margin of 2.10% and a return on equity of 8.33%. The company earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Jacobs Engineering Group’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, analysts forecast that Jacobs Engineering Group Inc. will post $3.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, February 17th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, February 15th.
This report was first posted by sleekmoney and is the property of of sleekmoney. If you are reading this report on another publication, it was stolen and republished in violation of US and international trademark & copyright law. The legal version of this report can be viewed at http://sleekmoney.com/tcw-group-inc-reduces-position-in-jacobs-engineering-group-inc-jec/1660638.html.
JEC has been the subject of several recent research reports. Zacks Investment Research downgraded Jacobs Engineering Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 18th. Credit Suisse Group raised their price target on Jacobs Engineering Group to $71.00 in a research report on Tuesday, January 31st. TheStreet raised Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research report on Monday, November 21st. DA Davidson downgraded Jacobs Engineering Group from a “buy” rating to a “neutral” rating and raised their price target for the stock from $60.00 to $62.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Finally, Deutsche Bank AG raised their price target on Jacobs Engineering Group from $50.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 23rd. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $58.33.
In other news, Director Joseph R. Bronson sold 14,500 shares of Jacobs Engineering Group stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $60.23, for a total value of $873,335.00. Following the completion of the transaction, the director now owns 28,149 shares in the company, valued at $1,695,414.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.49% of the company’s stock.
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.
Want to see what other hedge funds are holding JEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jacobs Engineering Group Inc. (NYSE:JEC).
This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/tcw-group-inc-reduces-position-in-jacobs-engineering-group-inc-jec/1660638.html
Receive News & Ratings for Jacobs Engineering Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Engineering Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.