Jacobs Solutions Inc. (NYSE:J) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its holdings in Jacobs Solutions Inc. (NYSE:JGet Rating) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,201,562 shares of the company’s stock after selling 85,859 shares during the quarter. Bank of America Corp DE’s holdings in Jacobs Solutions were worth $165,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in J. Mackenzie Financial Corp increased its stake in Jacobs Solutions by 1,162.8% in the first quarter. Mackenzie Financial Corp now owns 866,765 shares of the company’s stock valued at $119,449,000 after purchasing an additional 798,125 shares during the last quarter. Select Equity Group L.P. increased its stake in Jacobs Solutions by 12.4% in the first quarter. Select Equity Group L.P. now owns 5,814,904 shares of the company’s stock valued at $801,352,000 after purchasing an additional 641,965 shares during the last quarter. Findlay Park Partners LLP increased its stake in Jacobs Solutions by 31.8% in the first quarter. Findlay Park Partners LLP now owns 2,439,437 shares of the company’s stock valued at $336,179,000 after purchasing an additional 589,091 shares during the last quarter. Iat Reinsurance Co. LTD. acquired a new position in Jacobs Solutions in the first quarter valued at $58,590,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Jacobs Solutions by 98.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 823,856 shares of the company’s stock valued at $113,536,000 after purchasing an additional 409,597 shares during the last quarter. 86.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on J shares. Credit Suisse Group dropped their target price on Jacobs Solutions from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. Citigroup dropped their price target on Jacobs Solutions from $155.00 to $151.00 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. Royal Bank of Canada dropped their price target on Jacobs Solutions from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Finally, StockNews.com started coverage on Jacobs Solutions in a research note on Thursday, September 8th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.57.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $116.33 on Thursday. Jacobs Solutions Inc. has a 1-year low of $114.11 and a 1-year high of $150.32. The business has a 50-day moving average of $127.04 and a 200-day moving average of $131.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $14.84 billion, a price-to-earnings ratio of 32.68, a PEG ratio of 1.47 and a beta of 0.86.

Jacobs Solutions (NYSE:JGet Rating) last issued its earnings results on Monday, August 1st. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.06. Jacobs Solutions had a return on equity of 14.45% and a net margin of 3.16%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 6.94 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, September 29th. Jacobs Solutions’s payout ratio is 25.84%.

Jacobs Solutions Profile

(Get Rating)

Jacob Solutions, Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. The company operates in three segments, Critical Mission Solutions, People & Places Solutions, and PA Consulting.

Further Reading

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

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