Occidental Asset Management LLC acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 34,914 shares of the company’s stock, valued at approximately $4,399,000.
Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. increased its position in Jacobs Solutions by 828.5% during the second quarter. Ameriprise Financial Inc. now owns 1,326,988 shares of the company’s stock worth $174,434,000 after purchasing an additional 1,184,068 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Jacobs Solutions by 246.3% in the 4th quarter. Focus Partners Wealth now owns 1,338,698 shares of the company’s stock valued at $177,324,000 after purchasing an additional 952,151 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Jacobs Solutions in the 2nd quarter valued at $83,490,000. Bank of New York Mellon Corp acquired a new position in shares of Jacobs Solutions in the 2nd quarter valued at $76,688,000. Finally, L1 Capital International Pty Ltd grew its stake in shares of Jacobs Solutions by 363.6% during the 4th quarter. L1 Capital International Pty Ltd now owns 723,533 shares of the company’s stock valued at $95,839,000 after buying an additional 567,478 shares during the period. 85.65% of the stock is owned by institutional investors and hedge funds.
Jacobs Solutions Stock Performance
NYSE:J opened at $143.63 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 50.93, a PEG ratio of 1.39 and a beta of 0.68. The firm’s fifty day simple moving average is $131.44 and its 200 day simple moving average is $129.55. Jacobs Solutions Inc. has a twelve month low of $105.68 and a twelve month high of $168.44.
Jacobs Solutions Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 21st will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.44 annualized dividend and a yield of 1.0%. Jacobs Solutions’s dividend payout ratio (DPR) is 51.06%.
Analyst Ratings Changes
A number of research firms have recently commented on J. Wells Fargo & Company dropped their price objective on Jacobs Solutions from $137.00 to $131.00 and set an “equal weight” rating for the company in a report on Thursday, May 7th. UBS Group boosted their price target on Jacobs Solutions from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Jacobs Solutions in a research note on Monday, August 3rd. KeyCorp cut their price objective on Jacobs Solutions from $154.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Citigroup raised their price objective on Jacobs Solutions from $180.00 to $181.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $153.70.
Check Out Our Latest Research Report on J
Insiders Place Their Bets
In related news, President Patrick Hill sold 17,201 shares of Jacobs Solutions stock in a transaction on Friday, August 7th. The shares were sold at an average price of $144.10, for a total transaction of $2,478,664.10. Following the sale, the president owned 67,356 shares of the company’s stock, valued at $9,705,999.60. The trade was a 20.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.
Jacobs Solutions Profile
Jacobs Solutions Inc, commonly known as Jacobs, is a global professional services firm that provides technical, engineering, scientific and project delivery expertise across a broad range of industries. Founded in 1947 by Joseph J. Jacobs in Pasadena, California, the company evolved from a regional engineering consultancy into a diversified provider of design, program and construction management, operations and maintenance, and scientific services for complex infrastructure and industrial programs.
Featured Articles
- Five stocks we like better than Jacobs Solutions
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding J? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jacobs Solutions Inc. (NYSE:J – Free Report).
Receive News & Ratings for Jacobs Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jacobs Solutions and related companies with MarketBeat.com's FREE daily email newsletter.
