As one would reasonably expect, some big names were leading the bulls’ herd. Winton Capital Management, managed by David Harding, initiated the biggest position in Jacobs Engineering Group Inc (NYSE:JEC). Winton Capital Management had $27.9 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also made an $22.9 million investment in the stock during the quarter. The following funds were also among the new JEC investors: Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Peter Muller’s PDT Partners, and Steve Cohen’s Point72 Asset Management.
Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Jacobs Engineering Group Inc (NYSE:JEC) but similarly valued. We will take a look at Aluminum Corp. of China Limited (ADR) (NYSE:ACH), CubeSmart (NYSE:CUBE), TransUnion (NYSE:TRU), and TIM Participacoes SA (ADR) (NYSE:TSU). This group of stocks’ market valuations are similar to JEC’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| ACH | 5 | 3478 | -1 |
| CUBE | 14 | 260978 | 3 |
| TRU | 19 | 222735 | -10 |
| TSU | 13 | 273199 | -12 |
As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $190 million. That figure was $179 million in JEC’s case. TransUnion (NYSE:TRU) is the most popular stock in this table. On the other hand Aluminum Corp. of China Limited (ADR) (NYSE:ACH) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Jacobs Engineering Group Inc (NYSE:JEC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
