Oppenheimer Asset Management Inc. Purchases 3,339 Shares of Jacobs Engineering Group Inc. (JEC)

Oppenheimer Asset Management Inc. boosted its position in Jacobs Engineering Group Inc. (NYSE:JEC) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,653 shares of the construction company’s stock after purchasing an additional 3,339 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Jacobs Engineering Group were worth $743,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. raised its stake in Jacobs Engineering Group by 25.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,439 shares of the construction company’s stock valued at $1,130,000 after purchasing an additional 4,135 shares during the last quarter. Greenwood Capital Associates LLC raised its stake in Jacobs Engineering Group by 6.4% in the 2nd quarter. Greenwood Capital Associates LLC now owns 7,847 shares of the construction company’s stock valued at $427,000 after purchasing an additional 470 shares during the last quarter. BlackRock Inc. raised 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 purchasing an additional 7,638,632 shares during the last quarter. LMR Partners LLP raised its stake in Jacobs Engineering Group by 201.5% in the 2nd quarter. LMR Partners LLP now owns 12,659 shares of the construction company’s stock valued at $689,000 after purchasing an additional 8,460 shares during the last quarter. Finally, HL Financial Services LLC acquired a new position in Jacobs Engineering Group in the 1st quarter valued at $3,947,000. 86.13% of the stock is owned by hedge funds and other institutional investors.

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 research note on Friday, June 23rd. Citigroup Inc. downgraded Jacobs Engineering Group from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research note on Thursday, August 3rd. KeyCorp reaffirmed a “buy” rating and issued a $60.00 target price on shares of Jacobs Engineering Group in a research note on Friday, August 25th. Citadel Securities downgraded Jacobs Engineering Group from a “buy” rating to a “neutral” rating and raised their target price for the stock from $62.00 to $66.00 in a research note on Tuesday, August 8th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $61.00 target price on shares of Jacobs Engineering Group in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $62.30.

Jacobs Engineering Group Inc. (NYSE JEC) opened at 55.93 on Wednesday. The company’s 50-day moving average price is $52.74 and its 200-day moving average price is $53.91. Jacobs Engineering Group Inc. has a one year low of $49.15 and a one year high of $63.42. The stock has a market capitalization of $6.73 billion, a PE ratio of 29.75 and a beta of 1.52.

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

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.60 annualized dividend and a yield of 1.07%. Jacobs Engineering Group’s dividend payout ratio is presently 31.75%.

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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.

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

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