Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $245,000 Position in Jacobs Solutions Inc. (NYSE:J)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Jacobs Solutions Inc. (NYSE:J) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,887 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds have also made changes to their positions in J. Mirabella Financial Services LLP acquired a new stake in shares of Jacobs Solutions in the 3rd quarter valued at about $202,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Jacobs Solutions in the 4th quarter valued at about $5,192,000. Wellington Management Group LLP boosted its position in shares of Jacobs Solutions by 62.7% in the 3rd quarter. Wellington Management Group LLP now owns 61,010 shares of the company’s stock valued at $8,328,000 after purchasing an additional 23,509 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Jacobs Solutions by 9.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 691,955 shares of the company’s stock valued at $94,452,000 after purchasing an additional 62,259 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Jacobs Solutions by 14.7% in the 3rd quarter. Raymond James & Associates now owns 80,498 shares of the company’s stock valued at $10,988,000 after purchasing an additional 10,296 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Insider Activity

In related news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shelette M. Gustafson sold 1,852 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now directly owns 28,791 shares of the company’s stock, valued at $4,261,068. The disclosure for this sale can be found here. Insiders sold 15,838 shares of company stock valued at $2,393,710 in the last three months. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. KeyCorp assumed coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Royal Bank of Canada increased their price objective on Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Bank of America increased their price objective on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Truist Financial began coverage on Jacobs Solutions in a research report on Thursday, March 14th. They set a “hold” rating and a $154.00 price objective for the company. Finally, Argus increased their price objective on Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $154.08.

Jacobs Solutions Stock Up 0.7 %

J opened at $145.01 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.37. The business has a 50 day simple moving average of $147.66 and a 200-day simple moving average of $137.47. The stock has a market capitalization of $18.22 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.53 and a beta of 0.73. Jacobs Solutions Inc. has a 12 month low of $109.00 and a 12 month high of $154.50.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.56 by $0.46. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm earned $1.67 EPS. On average, equities analysts anticipate that Jacobs Solutions Inc. will post 8.07 earnings per share for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, February 23rd were issued a $0.29 dividend. This is a boost from Jacobs Solutions’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Thursday, February 22nd. Jacobs Solutions’s dividend payout ratio (DPR) is currently 20.71%.

Jacobs Solutions Company Profile

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.