PNC Financial Services Group Inc. Increases Position in Jacobs Solutions Inc. (NYSE:J)

PNC Financial Services Group Inc. grew its position in shares of Jacobs Solutions Inc. (NYSE:J) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,031 shares of the company’s stock after purchasing an additional 2,836 shares during the period. PNC Financial Services Group Inc.’s holdings in Jacobs Solutions were worth $5,456,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in Jacobs Solutions in the 4th quarter worth $27,000. First Pacific Financial purchased a new stake in shares of Jacobs Solutions during the 4th quarter valued at about $27,000. Northwest Financial Advisors bought a new stake in Jacobs Solutions in the 4th quarter worth approximately $39,000. Tennessee Valley Asset Management Partners purchased a new position in Jacobs Solutions in the fourth quarter worth about $59,000. Finally, Private Trust Co. NA grew its position in Jacobs Solutions by 17.8% during 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 period. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on J. Bank of America increased their target price on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective 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. Truist Financial dropped their target price 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, May 8th. Argus boosted their price target on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Robert W. Baird decreased their price objective on Jacobs Solutions from $168.00 to $163.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Jacobs Solutions currently has an average rating of “Moderate Buy” and an average price target of $156.82.

Jacobs Solutions Stock Performance

NYSE:J opened at $140.50 on Friday. The firm has a market capitalization of $17.59 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.60 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 1.17. The business’s fifty day moving average price is $144.84 and its 200 day moving average price is $138.75. Jacobs Solutions Inc. has a 12 month low of $109.00 and a 12 month high of $154.50.

Jacobs Solutions (NYSE:J) last released its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.07. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. On average, sell-side analysts anticipate that Jacobs Solutions Inc. will post 7.98 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 24th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.16 annualized dividend and a dividend yield of 0.83%. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Insider Activity at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the sale, the insider now directly owns 548,138 shares of the company’s stock, valued at approximately $78,855,132.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Kevin C. Berryman sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $145.31, for a total value of $217,965.00. Following the transaction, the chief financial officer now owns 231,604 shares in the company, valued at $33,654,377.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $78,855,132.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,486 shares of company stock valued at $3,344,599. 1.00% of the stock is owned by corporate insiders.

Jacobs Solutions 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.