Jacobs Engineering Group Inc (NYSE:JEC) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,050,000 shares, a decrease of 6.7% from the September 30th total of 3,270,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 913,100 shares, the days-to-cover ratio is currently 3.3 days.
A number of institutional investors have recently added to or reduced their stakes in the business. South Texas Money Management Ltd. grew its holdings in shares of Jacobs Engineering Group by 21.1% during the second quarter. South Texas Money Management Ltd. now owns 3,391 shares of the construction company’s stock worth $286,000 after purchasing an additional 591 shares during the last quarter. Carroll Financial Associates Inc. boosted its holdings in Jacobs Engineering Group by 724.8% in the second quarter. Carroll Financial Associates Inc. now owns 3,299 shares of the construction company’s stock valued at $278,000 after acquiring an additional 2,899 shares during the last quarter. First American Trust FSB boosted its holdings in Jacobs Engineering Group by 3.1% in the second quarter. First American Trust FSB now owns 67,664 shares of the construction company’s stock valued at $5,710,000 after acquiring an additional 2,061 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Jacobs Engineering Group by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 18,350 shares of the construction company’s stock valued at $1,549,000 after acquiring an additional 1,039 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp bought a new position in Jacobs Engineering Group in the second quarter valued at about $7,735,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.
A number of equities research analysts have issued reports on JEC shares. Zacks Investment Research raised Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Friday, August 16th. ValuEngine cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America restated a “buy” rating and issued a $98.00 target price on shares of Jacobs Engineering Group in a research note on Thursday, August 22nd. Credit Suisse Group upped their target price on Jacobs Engineering Group from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, August 6th. Finally, Cowen restated a “buy” rating and issued a $92.00 target price on shares of Jacobs Engineering Group in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Jacobs Engineering Group has an average rating of “Buy” and a consensus target price of $88.89.
Jacobs Engineering Group stock traded down $0.74 during mid-day trading on Monday, hitting $93.59. 366,541 shares of the company were exchanged, compared to its average volume of 782,654. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average of $92.76 and a 200 day moving average of $85.43. Jacobs Engineering Group has a 1-year low of $55.17 and a 1-year high of $98.08. The company has a market capitalization of $12.80 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.68 annualized dividend and a yield of 0.73%. Jacobs Engineering Group’s dividend payout ratio is currently 15.21%.
About Jacobs Engineering Group
Jacobs Engineering Group Inc provides technical, professional, and construction services. The company's Aerospace, Technology, Environmental and Nuclear segment offers scientific, engineering, construction, nuclear, environmental, and technical support services to the aerospace, defense, technical, and automotive industries.
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