Bank of New York Mellon Corp grew its stake in Jacobs Engineering Group Inc (NYSE:JEC) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 925,070 shares of the construction company’s stock after purchasing an additional 3,024 shares during the period. Bank of New York Mellon Corp owned approximately 0.65% of Jacobs Engineering Group worth $58,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Madison Investment Holdings Inc. grew its position in Jacobs Engineering Group by 17.1% in the second quarter. Madison Investment Holdings Inc. now owns 1,284,085 shares of the construction company’s stock worth $81,527,000 after acquiring an additional 187,572 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Jacobs Engineering Group in the second quarter worth approximately $1,323,000. Ruggie Capital Group purchased a new position in Jacobs Engineering Group in the second quarter worth approximately $241,000. Bank of Nova Scotia grew its position in Jacobs Engineering Group by 7.9% in the second quarter. Bank of Nova Scotia now owns 13,107 shares of the construction company’s stock worth $832,000 after acquiring an additional 961 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in Jacobs Engineering Group by 11.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,470 shares of the construction company’s stock worth $474,000 after acquiring an additional 752 shares during the period. Institutional investors and hedge funds own 86.46% of the company’s stock.

JEC has been the topic of a number of research reports. Seaport Global Securities initiated coverage on Jacobs Engineering Group in a research note on Thursday, November 15th. They set a “buy” rating and a $91.00 price target on the stock. ValuEngine upgraded Jacobs Engineering Group from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Barclays restated a “buy” rating and set a $83.00 price target on shares of Jacobs Engineering Group in a research note on Thursday, October 18th. Robert W. Baird upped their price target on Jacobs Engineering Group from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, October 23rd. Finally, Citigroup upgraded Jacobs Engineering Group from a “neutral” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Monday, October 22nd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $83.92.

Shares of NYSE JEC traded down $1.14 during mid-day trading on Friday, hitting $59.78. The company had a trading volume of 1,485,072 shares, compared to its average volume of 1,802,853. The stock has a market cap of $8.67 billion, a P/E ratio of 13.37, a PEG ratio of 1.23 and a beta of 1.40. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.36. Jacobs Engineering Group Inc has a 1-year low of $55.21 and a 1-year high of $82.24.

Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings data on Tuesday, November 20th. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Jacobs Engineering Group had a return on equity of 10.40% and a net margin of 1.19%. The company’s revenue for the quarter was up 56.1% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. On average, equities analysts forecast that Jacobs Engineering Group Inc will post 5.15 EPS for the current fiscal year.

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About Jacobs Engineering Group

Jacobs Engineering Group Inc provides technical, professional, and construction services. It offers project services that include engineering, architectural, interiors, design, planning, and related services, as well as planning, scheduling, procurement, estimating, cost engineering, project accounting and delivery, safety, and other support services.

Further Reading: Asset Allocation, Balancing Your Investments

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

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