Patrick M Sweeney & Associates Inc. Purchases New Holdings in Jacobs Solutions Inc. (NYSE:J)

Patrick M Sweeney & Associates Inc. acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the 4th quarter, HoldingsChannel reports. The firm acquired 2,530 shares of the company’s stock, valued at approximately $328,000.

Other hedge funds have also made changes to their positions in the company. First Pacific Financial acquired a new stake in shares of Jacobs Solutions in the fourth quarter worth approximately $27,000. GAMMA Investing LLC acquired a new stake in Jacobs Solutions during the 4th quarter worth $27,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Jacobs Solutions during the fourth quarter worth $59,000. Private Trust Co. NA raised its position in shares of Jacobs Solutions by 17.8% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the company’s stock valued at $75,000 after buying an additional 87 shares during the last quarter. Finally, Evolution Advisers Inc. purchased a new position in shares of Jacobs Solutions in the fourth quarter worth about $77,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on J shares. Robert W. Baird cut 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. Bank of America boosted their price objective on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. William Blair cut Jacobs Solutions from an “outperform” rating to a “market perform” rating in a report on Wednesday. Royal Bank of Canada boosted their price target on shares of Jacobs Solutions from $151.00 to $161.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Finally, Truist Financial cut their price objective on shares of Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.25.

Jacobs Solutions Stock Down 2.2 %

Shares of NYSE:J traded down $3.13 on Wednesday, hitting $138.51. 1,289,367 shares of the company’s stock were exchanged, compared to its average volume of 653,743. Jacobs Solutions Inc. has a 1-year low of $109.00 and a 1-year high of $154.50. The company has a market capitalization of $17.40 billion, a PE ratio of 24.76, a P/E/G ratio of 1.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s 50-day moving average is $147.34 and its 200 day moving average is $138.31.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.07. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the business earned $1.81 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Jacobs Solutions Inc. will post 8.07 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be given a $0.29 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.84%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 20.71%.

Insiders Place Their Bets

In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the sale, the insider now owns 548,138 shares in the company, valued at approximately $78,855,132.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kevin C. Berryman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $145.31, for a total transaction of $217,965.00. Following the completion of the sale, the chief financial officer now owns 231,604 shares in the company, valued at $33,654,377.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total value of $1,007,020.00. Following the sale, the insider now directly owns 548,138 shares of the company’s stock, valued at $78,855,132.68. The disclosure for this sale can be found here. Insiders have sold a total of 24,338 shares of company stock valued at $3,618,695 over the last quarter. Company insiders own 1.00% of the company’s stock.

About Jacobs Solutions

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.