Hsbc Holdings PLC Sells 201,156 Shares of Jacobs Engineering Group Inc (JEC)

Hsbc Holdings PLC trimmed its stake in Jacobs Engineering Group Inc (NYSE:JEC) by 65.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,986 shares of the construction company’s stock after selling 201,156 shares during the period. Hsbc Holdings PLC’s holdings in Jacobs Engineering Group were worth $6,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Jacobs Engineering Group during the fourth quarter valued at $650,000. Bessemer Group Inc. boosted its position in Jacobs Engineering Group by 1,493.9% during the fourth quarter. Bessemer Group Inc. now owns 11,285 shares of the construction company’s stock valued at $660,000 after acquiring an additional 10,577 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Jacobs Engineering Group by 4.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,042 shares of the construction company’s stock valued at $2,458,000 after acquiring an additional 1,850 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Jacobs Engineering Group by 0.5% during the fourth quarter. Great West Life Assurance Co. Can now owns 79,691 shares of the construction company’s stock valued at $4,430,000 after acquiring an additional 359 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Jacobs Engineering Group by 2.0% during the fourth quarter. Northern Trust Corp now owns 1,325,633 shares of the construction company’s stock valued at $77,496,000 after acquiring an additional 25,375 shares during the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

In related news, COO Terence D. Hagen sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $72.50, for a total value of $507,500.00. Following the transaction, the chief operating officer now owns 62,775 shares of the company’s stock, valued at approximately $4,551,187.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael R. Tyler sold 873 shares of the firm’s stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $58.37, for a total transaction of $50,957.01. Following the completion of the transaction, the senior vice president now directly owns 28,935 shares in the company, valued at approximately $1,688,935.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,106 shares of company stock worth $1,783,892. 0.92% of the stock is owned by insiders.



A number of analysts have commented on JEC shares. Seaport Global Securities initiated coverage on shares of Jacobs Engineering Group in a research report on Thursday, November 15th. They set a “buy” rating and a $91.00 price target on the stock. ValuEngine cut shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 21st. Robert W. Baird reissued a “buy” rating and set a $80.00 price objective on shares of Jacobs Engineering Group in a research report on Wednesday, November 21st. MKM Partners cut their price objective on shares of Jacobs Engineering Group from $84.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, November 21st. Finally, Citigroup cut their price objective on shares of Jacobs Engineering Group from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, November 21st. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $81.71.

Shares of NYSE JEC opened at $73.08 on Friday. Jacobs Engineering Group Inc has a fifty-two week low of $55.17 and a fifty-two week high of $82.24. The stock has a market capitalization of $10.19 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.46.

Jacobs Engineering Group (NYSE:JEC) last announced its quarterly earnings results on Wednesday, February 6th. The construction company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Jacobs Engineering Group had a net margin of 1.96% and a return on equity of 10.57%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s revenue for the quarter was up 72.9% compared to the same quarter last year. As a group, sell-side analysts expect that Jacobs Engineering Group Inc will post 5.28 earnings per share for the current year.

Jacobs Engineering Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, January 17th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 11.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, February 15th will be given a $0.17 dividend. This is a boost from Jacobs Engineering Group’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $0.68 annualized dividend and a yield of 0.93%. Jacobs Engineering Group’s dividend payout ratio (DPR) is presently 15.21%.

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Jacobs Engineering Group Company Profile

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

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