Chesapeake Asset Management Lowers stake in Jacobs Engineering Group Inc (JEC)

Jacobs Engineering Group Inc (JEC) : Chesapeake Asset Management reduced its stake in Jacobs Engineering Group Inc by 13.57% during the most recent quarter end. The investment management company now holds a total of 45,845 shares of Jacobs Engineering Group Inc which is valued at $2,494,426 after selling 7,200 shares in Jacobs Engineering Group Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Jacobs Engineering Group Inc makes up approximately 1.96% of Chesapeake Asset Management’s portfolio.

Other Hedge Funds, Including , Tlp Group sold out all of its stake in JEC during the most recent quarter. The investment firm sold 14,200 shares of JEC which is valued $758,138.Lapides Asset Management reduced its stake in JEC by selling 700 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 54,800 shares of JEC which is valued at $2,981,668. Jacobs Engineering Group Inc makes up approx 0.49% of Lapides Asset Management’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in JEC in the latest quarter, The investment management firm added 485 additional shares and now holds a total of 18,316 shares of Jacobs Engineering Group Inc which is valued at $970,748. Jacobs Engineering Group Inc makes up approx 0.02% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.Canandaigua National Bank Trust Co reduced its stake in JEC by selling 3,730 shares or 13.34% in the most recent quarter. The Hedge Fund company now holds 24,225 shares of JEC which is valued at $1,319,536. Jacobs Engineering Group Inc makes up approx 0.38% of Canandaigua National Bank Trust Co’s portfolio.

Jacobs Engineering Group Inc closed down -0.41 points or -0.76% at $53.28 with 7,98,023 shares getting traded on Wednesday. Post opening the session at $53.78, the shares hit an intraday low of $53.07 and an intraday high of $53.84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Jacobs Engineering Group Inc reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.75. The company had revenue of $2693.87 million for the quarter, compared to analysts expectations of $2789.12 million. The company’s revenue was down -7.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.97 EPS.

Many Wall Street Analysts have commented on Jacobs Engineering Group Inc. Company shares were Reiterated by FBR Capital on Aug 12, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 55 from a previous price target of $47 .Jacobs Engineering Group Inc was Downgraded by Johnson Rice to ” Hold” on Aug 11, 2016. Company shares were Reiterated by DA Davidson on Aug 10, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $63 .

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. Its services include technical professional services and field services. Its technical professional services include project services and process scientific and systems consulting. Its field services include construction and operations and maintenance (O&M). It offers its services to the industries including aerospace and defense; automotive and industrial; buildings; mining and minerals; nuclear; oil and gas (upstream); petrochemicals and chemicals; pharmaceutical and biotechnology; power and utilities; pulp paper and consumer products; refining (downstream); telecommunications; transportation and water and wastewater. It offers its services in approximately 30 countries. The Company’s products include Chemetics Comprimo sulfur solutions and Modular construction.

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