Jacobs Engineering Group Inc (NYSE:JEC) Short Interest Down 6.7% in October

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

Jacobs Engineering Group stock traded down $0.74 during trading hours on Monday, reaching $93.59. 366,541 shares of the stock were exchanged, compared to its average volume of 782,654. The firm’s 50 day moving average is $92.76 and its 200 day moving average is $85.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $12.80 billion, a P/E ratio of 20.94, a P/E/G 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. Stockholders of record on Friday, October 4th were issued a $0.17 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.73%. Jacobs Engineering Group’s dividend payout ratio is presently 15.21%.

A number of analysts recently weighed in on JEC shares. Credit Suisse Group increased their price target on shares of Jacobs Engineering Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. ValuEngine cut shares of Jacobs Engineering Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America reiterated a “buy” rating and set a $98.00 price target on shares of Jacobs Engineering Group in a research note on Thursday, August 22nd. Cowen restated a “buy” rating and set a $92.00 price objective on shares of Jacobs Engineering Group in a research report on Tuesday, August 20th. Finally, KeyCorp upped their price objective on shares of Jacobs Engineering Group from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $88.89.

Several institutional investors and hedge funds have recently made changes to their positions in JEC. Suvretta Capital Management LLC purchased a new position in shares of Jacobs Engineering Group in the 2nd quarter valued at about $112,951,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $161,593,000 after purchasing an additional 1,228,046 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Jacobs Engineering Group by 17,355.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 501,321 shares of the construction company’s stock valued at $42,307,000 after purchasing an additional 498,449 shares in the last quarter. Foresters Investment Management Company Inc. increased its holdings in shares of Jacobs Engineering Group by 187.4% in the 2nd quarter. Foresters Investment Management Company Inc. now owns 625,161 shares of the construction company’s stock valued at $52,757,000 after purchasing an additional 407,661 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of 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 valued at $445,258,000 after purchasing an additional 277,316 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

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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