Biltmore Wealth Management LLC Sells 504 Shares of Jacobs Engineering (NYSE:J)

Biltmore Wealth Management LLC decreased its stake in shares of Jacobs Engineering (NYSE:J) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,089 shares of the company’s stock after selling 504 shares during the period. Jacobs Engineering makes up 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Biltmore Wealth Management LLC’s holdings in Jacobs Engineering were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Michigan Retirement System bought a new stake in shares of Jacobs Engineering during the 2nd quarter valued at about $2,819,000. Sentry Investment Management LLC bought a new stake in shares of Jacobs Engineering during the 2nd quarter valued at about $695,000. UBS Group AG bought a new stake in Jacobs Engineering during the second quarter worth about $8,648,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Jacobs Engineering during the second quarter worth about $138,000. Finally, Bank of America Corp DE bought a new stake in Jacobs Engineering during the second quarter worth about $78,716,000. 88.46% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Joseph R. Bronson sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $90.08, for a total transaction of $315,280.00. Following the completion of the transaction, the director now directly owns 28,103 shares of the company’s stock, valued at $2,531,518.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Several research firms recently commented on J. Sanford C. Bernstein began coverage on shares of Jacobs Engineering in a research note on Tuesday, September 22nd. They set an “outperform” rating on the stock. Argus boosted their price objective on shares of Jacobs Engineering from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup boosted their price objective on shares of Jacobs Engineering from $98.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. TheStreet raised shares of Jacobs Engineering from a “c+” rating to a “b” rating in a research note on Monday, August 3rd. Finally, Credit Suisse Group reissued a “buy” rating and set a $100.00 price objective on shares of Jacobs Engineering in a research note on Wednesday, July 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $102.00.

Shares of Jacobs Engineering stock opened at $99.33 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $12.93 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. Jacobs Engineering has a 52-week low of $59.29 and a 52-week high of $104.00. The company has a 50-day simple moving average of $93.44 and a two-hundred day simple moving average of $85.65.

Jacobs Engineering (NYSE:J) last released its quarterly earnings data on Monday, August 3rd. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.27. Jacobs Engineering had a net margin of 4.11% and a return on equity of 12.25%. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Jacobs Engineering’s revenue was up 3.1% compared to the same quarter last year. As a group, equities research analysts forecast that Jacobs Engineering will post 5.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 2nd will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, October 1st. This represents a $0.76 annualized dividend and a dividend yield of 0.77%. Jacobs Engineering’s payout ratio is 15.05%.

Jacobs Engineering Company Profile

Jacobs Engineering Group, Inc engages in the provision of a diverse range of technical, professional, and construction services to industrial, commercial, and governmental clients. Jacobs provides professional services through two lines of businesses: Critical Mission Solutions, and People and Places Solutions.

See Also: What are earnings reports?

Institutional Ownership by Quarter for Jacobs Engineering (NYSE:J)

Receive News & Ratings for Jacobs Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Engineering and related companies with MarketBeat.com's FREE daily email newsletter.