Principal Financial Group Inc. Purchases 2,141 Shares of Jacobs Solutions Inc. (NYSE:J)

Principal Financial Group Inc. increased its stake in Jacobs Solutions Inc. (NYSE:JGet Rating) by 1.3% in the second quarter, Holdings Channel reports. The firm owned 161,930 shares of the company’s stock after purchasing an additional 2,141 shares during the period. Principal Financial Group Inc.’s holdings in Jacobs Solutions were worth $20,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in Jacobs Solutions in the 1st quarter worth approximately $138,000. CWM LLC boosted its stake in Jacobs Solutions by 32.1% in the 2nd quarter. CWM LLC now owns 1,559 shares of the company’s stock worth $198,000 after purchasing an additional 379 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Jacobs Solutions by 22.1% in the 1st quarter. MetLife Investment Management LLC now owns 35,158 shares of the company’s stock worth $4,845,000 after purchasing an additional 6,368 shares in the last quarter. Brown Advisory Inc. boosted its stake in Jacobs Solutions by 0.8% in the 1st quarter. Brown Advisory Inc. now owns 16,815 shares of the company’s stock worth $2,322,000 after purchasing an additional 132 shares in the last quarter. Finally, Scotia Capital Inc. boosted its stake in Jacobs Solutions by 6.5% in the 1st quarter. Scotia Capital Inc. now owns 6,146 shares of the company’s stock worth $847,000 after purchasing an additional 373 shares in the last quarter. 86.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jacobs Solutions

In related news, CEO Steven J. Demetriou sold 51,130 shares of Jacobs Solutions stock in a transaction on Friday, November 18th. The shares were sold at an average price of $125.10, for a total value of $6,396,363.00. Following the sale, the chief executive officer now owns 631,447 shares of the company’s stock, valued at approximately $78,994,019.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada lowered their target price on shares of Jacobs Solutions from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, October 12th. They set a “buy” rating for the company. Citigroup reduced their price target on shares of Jacobs Solutions from $155.00 to $151.00 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. Finally, Credit Suisse Group reduced their price target on shares of Jacobs Solutions from $159.00 to $154.00 and set an “outperform” rating for the company in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.67.

Jacobs Solutions Price Performance

NYSE:J opened at $122.32 on Tuesday. 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 firm has a market cap of $15.61 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. The company has a 50 day moving average price of $116.10 and a 200-day moving average price of $124.65. Jacobs Solutions Inc. has a 1-year low of $106.78 and a 1-year high of $150.32.

Jacobs Solutions (NYSE:JGet Rating) last posted its earnings results on Monday, November 21st. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.03. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.85 billion. Jacobs Solutions had a net margin of 3.16% and a return on equity of 14.45%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Equities research analysts forecast that Jacobs Solutions Inc. will post 6.93 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, September 30th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.92 dividend on an annualized basis and a yield of 0.75%. Jacobs Solutions’s dividend payout ratio is currently 25.84%.

Jacobs Solutions Profile

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Jacobs 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. It provides cybersecurity, data analytics, systems and software application integration and consulting, enterprise and mission IT, engineering and design, nuclear, enterprise level operations and maintenance, artificial intelligence and automation, software development, digitally driven consulting, planning and architecture, program management, and other technical consulting solutions.

Further Reading

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

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