Short Interest in Jacobs Engineering Group Inc (NYSE:JEC) Drops By 6.7%

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Jacobs Engineering Group Inc (NYSE:JEC) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,050,000 shares, a drop of 6.7% from the September 30th total of 3,270,000 shares. Based on an average trading volume of 913,100 shares, the short-interest ratio is presently 3.3 days. Approximately 2.3% of the shares of the stock are short sold.

Shares of NYSE JEC traded up $1.16 during trading hours on Tuesday, reaching $94.86. 183,325 shares of the stock traded hands, compared to its average volume of 797,759. 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 company’s 50-day simple moving average is $92.95 and its two-hundred day simple moving average is $85.66. The company has a market capitalization of $12.78 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.36. Jacobs Engineering Group has a 52-week low of $55.17 and a 52-week high of $98.08.

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a $0.17 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 0.72%. Jacobs Engineering Group’s dividend payout ratio (DPR) is currently 15.21%.

A number of institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Jacobs Engineering Group by 5.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,276,187 shares of the construction company’s stock worth $445,258,000 after purchasing an additional 277,316 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Jacobs Engineering Group by 178.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,914,838 shares of the construction company’s stock worth $161,593,000 after purchasing an additional 1,228,046 shares during the period. Investec Asset Management LTD increased its stake in Jacobs Engineering Group by 1.5% in the 2nd quarter. Investec Asset Management LTD now owns 1,706,150 shares of the construction company’s stock worth $143,982,000 after purchasing an additional 25,787 shares during the period. Northern Trust Corp increased its stake in Jacobs Engineering Group by 7.5% in the 2nd quarter. Northern Trust Corp now owns 1,419,038 shares of the construction company’s stock worth $119,753,000 after purchasing an additional 98,628 shares during the period. Finally, Suvretta Capital Management LLC purchased a new position in Jacobs Engineering Group in the 2nd quarter worth approximately $112,951,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the company. ValuEngine cut Jacobs Engineering Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Jacobs Engineering Group from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Friday, August 16th. DA Davidson raised their price target on Jacobs Engineering Group to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp raised their price target on Jacobs Engineering Group from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Credit Suisse Group raised their price target on Jacobs Engineering Group from $85.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $88.89.

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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