Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
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Market Information
Jacobs’ common stock is listed on the NYSE and trades under the symbol JEC. We provided to the NYSE, without qualification, the required annual certification of our Chief Executive Officer regarding compliance with the NYSE’s corporate governance listing standards. The following table sets forth the low and high sales prices of a share of our common stock during each of the fiscal quarters presented, based on the NYSE Composite Price History:
| Low Sales | High Sales | |||||||
|---|---|---|---|---|---|---|---|---|
| Price | Price | |||||||
| Fiscal 2016: | ||||||||
| First quarter | $ | 37.51 | $ | 45.41 | ||||
| Second quarter | 34.76 | 44.77 | ||||||
| Third quarter | 40.93 | 53.33 | ||||||
| Fourth quarter | 48.13 | 55.89 | ||||||
| Fiscal 2015: | ||||||||
| First quarter | $ | 39.78 | $ | 49.94 | ||||
| Second quarter | 37.87 | 45.49 | ||||||
| Third quarter | 41.68 | 48.25 | ||||||
| Fourth quarter | 36.05 | 44.64 |
Shareholders
According to the records of our transfer agent, there were 1,073 shareholders of record as of November 18, 2016.
Share Repurchases
On July 23, 2015, the Board of Directors approved a program to repurchase up to $500 million of the Company’s common stock over the next three years. Share repurchases may be executed through various means including, without limitation, open market transactions or otherwise. The share repurchase program, which expires on July 22, 2018, does not oblige the Company to purchase any shares. The authorization for the share repurchase program may be terminated, increased, or decreased by the Company’s Board of Directors in its discretion at any time. The timing of our share repurchases may depend upon the market conditions, other uses of capital, and other factors.
A summary of repurchases of our common stock each fiscal month during the fourth quarter of fiscal 2016 is as follows (in thousands, except per-share amounts):
| Period | Total Number of Shares Purchased | Average Price Paid per Share (1) | Total Numbers of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs ($ in thousands) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| July 2 through July 29, 2016 | 227 | $ | 52.30 | 227 | $ | 385,665 | ||||||||||
| July 30 through August 26, 2016 | 213 | $ | 53.77 | 213 | $ | 374,211 | ||||||||||
| August 27 through September 30, 2016 | 522 | $ | 51.32 | 522 | $ | 347,451 | ||||||||||
| Total | 962 | $ | 52.10 | 962 | $ | 347,451 |
| (1) | Includes commissions paid and calculated at the average price per share since the repurchase program authorization date. |
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Dividends
Our current policy is to use cash flows from operations to fund future growth, pay down debt, and, subject to market conditions, repurchase common stock under a stock buy-back program approved by our Board of Directors. During fiscal 2016, the Company undertook a strategic review to evaluate, among other things, how to invest its resources and maximize returns. As part of that evaluation, management has been reviewing and considering the continued use of the share repurchase program and the possible initiation of a cash dividend. The Company expects to present its strategy and corporate goals at its Investor Day, to be held on December 1, 2016.
Unregistered Sales of Equity Securities.
None.
Performance Graph
The following graph and table shows the changes over the past five-year period in the value of $100 invested at the end of fiscal 2011 in (1) the common stock of Jacobs Engineering Group Inc., (2) the Standard & Poor’s 500 Index, and (3) the Dow Jones Heavy Construction Group Index. The values of each investment are based on share price appreciation, with reinvestment of all dividends, provided any were paid. The investments are assumed to have occurred at the beginning of the period presented. The stock performance included in this graph is not necessarily indicative of future stock price performance.

| 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jacobs Engineering Group Inc. | 100.00 | 125.21 | 180.18 | 151.19 | 115.92 | 160.17 | ||||||||||||||||||
| S&P 500 | 100.00 | 130.20 | 155.39 | 186.05 | 184.91 | 213.44 | ||||||||||||||||||
| Dow Jones US Heavy Construction | 100.00 | 131.89 | 166.14 | 158.59 | 117.78 | 133.61 |
Note: The above information was provided by Research Data Group, Inc.
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