Cypress Capital Management LLC Sells 2,860 Shares of Jacobs Engineering Group Inc. (NYSE:J)

Cypress Capital Management LLC lowered its stake in Jacobs Engineering Group Inc. (NYSE:J) by 5.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 48,710 shares of the company’s stock after selling 2,860 shares during the period. Cypress Capital Management LLC’s holdings in Jacobs Engineering Group were worth $6,297,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. E Fund Management Co. Ltd. purchased a new position in shares of Jacobs Engineering Group during the first quarter valued at approximately $29,000. Certified Advisory Corp purchased a new position in shares of Jacobs Engineering Group during the first quarter valued at approximately $32,000. Parallel Advisors LLC increased its stake in shares of Jacobs Engineering Group by 52.5% during the first quarter. Parallel Advisors LLC now owns 392 shares of the company’s stock valued at $51,000 after buying an additional 135 shares during the period. Exane Derivatives increased its stake in shares of Jacobs Engineering Group by 18.2% during the first quarter. Exane Derivatives now owns 525 shares of the company’s stock valued at $68,000 after buying an additional 81 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Jacobs Engineering Group during the first quarter valued at approximately $86,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.

J stock traded down $0.65 during trading on Friday, reaching $140.61. The stock had a trading volume of 2,201 shares, compared to its average volume of 630,488. Jacobs Engineering Group Inc. has a 52 week low of $77.51 and a 52 week high of $145.97. The firm’s 50 day moving average is $137.28. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market capitalization of $18.31 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.82 and a beta of 0.89.

Jacobs Engineering Group (NYSE:J) last posted its earnings results on Monday, May 10th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.29. Jacobs Engineering Group had a return on equity of 13.08% and a net margin of 4.34%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. Jacobs Engineering Group’s revenue was up 3.5% on a year-over-year basis. Research analysts predict that Jacobs Engineering Group Inc. will post 6.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, May 28th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, May 27th. Jacobs Engineering Group’s dividend payout ratio is 15.33%.

In other news, COO Robert V. Pragada sold 21,387 shares of the firm’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $135.24, for a total value of $2,892,377.88. Following the transaction, the chief operating officer now owns 181,590 shares of the company’s stock, valued at $24,558,231.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher M.T. Thompson bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 26th. The shares were acquired at an average price of $140.22 per share, with a total value of $1,402,200.00. Following the transaction, the director now directly owns 31,611 shares of the company’s stock, valued at approximately $4,432,494.42. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

J has been the topic of several research analyst reports. KeyCorp boosted their target price on Jacobs Engineering Group from $124.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, April 19th. Citigroup upped their price target on Jacobs Engineering Group from $156.00 to $164.00 in a research note on Tuesday, May 11th. Benchmark upped their price target on Jacobs Engineering Group from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, May 11th. Stifel Nicolaus upped their price target on Jacobs Engineering Group from $128.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, April 19th. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Jacobs Engineering Group from $156.00 to $164.00 in a research note on Tuesday, May 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. Jacobs Engineering Group has a consensus rating of “Buy” and a consensus price target of $135.38.

Jacobs Engineering Group Profile

Jacobs Engineering Group Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. The company operates in two segments, Critical Mission Solutions and People & Places Solutions.

Further Reading: Depreciation

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

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