Jacobs Solutions Inc. (NYSE:J) Sees Significant Decrease in Short Interest

Jacobs Solutions Inc. (NYSE:J) saw a significant decline in short interest in July. As of July 15th, there was short interest totalling 1,300,000 shares, a decline of 9.1% from the June 30th total of 1,430,000 shares. Based on an average trading volume of 660,900 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.94, for a total transaction of $979,580.00. Following the completion of the sale, the insider now directly owns 534,138 shares of the company’s stock, valued at approximately $74,747,271.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Jacobs Solutions

Several institutional investors and hedge funds have recently modified their holdings of the stock. EdgeRock Capital LLC bought a new stake in Jacobs Solutions during the second quarter worth about $26,000. GAMMA Investing LLC bought a new position in shares of Jacobs Solutions in the fourth quarter worth about $27,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Jacobs Solutions by 427.5% in the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Jacobs Solutions in the fourth quarter worth about $30,000. Finally, Union Savings Bank lifted its holdings in shares of Jacobs Solutions by 78.1% in the fourth quarter. Union Savings Bank now owns 285 shares of the company’s stock worth $37,000 after acquiring an additional 125 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Down 1.1 %

Shares of J stock traded down $1.59 during trading on Thursday, reaching $144.76. The company’s stock had a trading volume of 710,768 shares, compared to its average volume of 657,430. The business has a fifty day moving average price of $141.29 and a 200-day moving average price of $142.89. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 1.68 and a beta of 0.70. Jacobs Solutions has a one year low of $120.71 and a one year high of $154.50.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.07. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a net margin of 3.83% and a return on equity of 14.59%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.81 earnings per share. Analysts anticipate that Jacobs Solutions will post 7.98 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, July 26th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 0.80%. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Analysts Set New Price Targets

A number of research firms have recently commented on J. Robert W. Baird reduced their price objective on shares of Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Truist Financial cut their price target on shares of Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Citigroup lifted their price target on shares of Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, William Blair downgraded shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 8th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $156.82.

Jacobs Solutions Company Profile

Jacobs Solutions Inc provides consulting, technical, engineering, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. It operates through Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting segments.