Wedge Capital Management L L P NC Reduces Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Wedge Capital Management L L P NC reduced its stake in Jacobs Solutions Inc. (NYSE:J) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,542 shares of the company’s stock after selling 5,480 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Jacobs Solutions worth $10,936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. EdgeRock Capital LLC bought a new position in Jacobs Solutions in the 2nd quarter valued at approximately $26,000. Bruce G. Allen Investments LLC lifted its holdings in shares of Jacobs Solutions by 427.5% during the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares in the last quarter. Quarry LP boosted its position in shares of Jacobs Solutions by 108.9% during the fourth quarter. Quarry LP now owns 305 shares of the company’s stock valued at $40,000 after buying an additional 159 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Jacobs Solutions in the 1st quarter worth about $48,000. Finally, LRI Investments LLC bought a new position in Jacobs Solutions during the 1st quarter valued at about $48,000. 85.65% of the stock is currently owned by institutional investors.

Jacobs Solutions Stock Up 0.7 %

NYSE J opened at $139.46 on Tuesday. Jacobs Solutions Inc. has a 52 week low of $120.71 and a 52 week high of $156.31. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $17.46 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72. The stock’s 50-day moving average price is $144.63 and its 200-day moving average price is $143.16.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting analysts’ consensus estimates of $1.96. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.82 EPS. On average, equities research analysts predict that Jacobs Solutions Inc. will post 7.95 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.83%. Jacobs Solutions’s payout ratio is presently 22.39%.

Wall Street Analysts Forecast Growth

J has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research report on Friday, October 4th. StockNews.com initiated coverage on Jacobs Solutions in a report on Wednesday, October 2nd. They set a “buy” rating on the stock. UBS Group lifted their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Robert W. Baird lowered their target price on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $159.60.

Insider Buying and Selling at Jacobs Solutions

In related news, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.51, for a total value of $212,586.01. Following the transaction, the senior vice president now directly owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.51, for a total transaction of $212,586.01. Following the completion of the transaction, the senior vice president now owns 26,699 shares in the company, valued at approximately $3,911,670.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.85, for a total transaction of $286,313.30. Following the completion of the sale, the director now owns 42,069 shares in the company, valued at approximately $6,346,108.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,516 shares of company stock valued at $2,152,693 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

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.