Jacobs Solutions Inc. (NYSE:J) Shares Purchased by Red Spruce Capital LLC

Red Spruce Capital LLC boosted its holdings in Jacobs Solutions Inc. (NYSE:J) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,264 shares of the company’s stock after buying an additional 193 shares during the period. Red Spruce Capital LLC’s holdings in Jacobs Solutions were worth $2,053,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its stake in shares of Jacobs Solutions by 1,162.8% in the 1st 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 in the last quarter. Select Equity Group L.P. raised its holdings in shares of Jacobs Solutions by 12.6% during the 1st quarter. Select Equity Group L.P. now owns 4,717,432 shares of the company’s stock valued at $554,345,000 after buying an additional 529,557 shares during the period. FIL Ltd purchased a new stake in shares of Jacobs Solutions during the 1st quarter valued at about $58,588,000. Epoch Investment Partners Inc. raised its holdings in shares of Jacobs Solutions by 115.1% during the 1st quarter. Epoch Investment Partners Inc. now owns 817,535 shares of the company’s stock valued at $96,069,000 after buying an additional 437,414 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Jacobs Solutions by 44.6% during the 1st quarter. Invesco Ltd. now owns 1,291,182 shares of the company’s stock valued at $177,937,000 after buying an additional 398,033 shares during the period. 84.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on J. Royal Bank of Canada raised their price objective on Jacobs Solutions from $152.00 to $157.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. StockNews.com began coverage on shares of Jacobs Solutions in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Robert W. Baird raised their price objective on shares of Jacobs Solutions from $135.00 to $150.00 in a report on Wednesday, August 9th. Credit Suisse Group dropped their target price on shares of Jacobs Solutions from $153.00 to $151.00 and set an “outperform” rating for the company in a research report on Wednesday, August 9th. Finally, TD Cowen lifted their price target on Jacobs Solutions from $128.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, August 10th. One equities research analyst has 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $149.00.

Jacobs Solutions Trading Up 1.2 %

NYSE J traded up $1.62 on Thursday, hitting $132.80. 75,921 shares of the company were exchanged, compared to its average volume of 615,227. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.46 and a quick ratio of 1.46. Jacobs Solutions Inc. has a twelve month low of $106.78 and a twelve month high of $137.61. The firm has a market capitalization of $16.72 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82. The company’s 50 day moving average price is $129.82 and its 200-day moving average price is $120.75.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.82 EPS for the quarter, hitting analysts’ consensus estimates of $1.82. Jacobs Solutions had a return on equity of 14.30% and a net margin of 4.65%. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the company posted $1.86 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts predict that Jacobs Solutions Inc. will post 7.35 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, July 28th were issued a $0.26 dividend. The ex-dividend date was Thursday, July 27th. This represents a $1.04 annualized dividend and a yield of 0.78%. Jacobs Solutions’s dividend payout ratio (DPR) is currently 17.93%.

Insiders Place Their Bets

In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $122.99, for a total transaction of $819,851.34. Following the completion of the sale, the insider now directly owns 587,958 shares in the company, valued at $72,312,954.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $122.99, for a total value of $819,851.34. Following the sale, the insider now directly owns 587,958 shares in the company, valued at approximately $72,312,954.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin C. Berryman sold 1,500 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $125.30, for a total transaction of $187,950.00. Following the transaction, the chief financial officer now directly owns 249,132 shares of the company’s stock, valued at approximately $31,216,239.60. The disclosure for this sale can be found here. Insiders sold 14,832 shares of company stock valued at $1,917,844 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

About Jacobs Solutions

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