Granite Investment Partners LLC Sells 382 Shares of Jacobs Solutions Inc. (NYSE:J)

Granite Investment Partners LLC trimmed its position in shares of Jacobs Solutions Inc. (NYSE:J) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,941 shares of the company’s stock after selling 382 shares during the period. Granite Investment Partners LLC’s holdings in Jacobs Solutions were worth $5,720,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of J. EdgeRock Capital LLC bought a new position in shares of Jacobs Solutions during the second quarter valued at approximately $26,000. Bruce G. Allen Investments LLC boosted its stake in shares of Jacobs Solutions by 427.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Jacobs Solutions during the 4th quarter valued at about $30,000. Quarry LP increased its position in shares of Jacobs Solutions by 108.9% during the fourth quarter. Quarry LP now owns 305 shares of the company’s stock valued at $40,000 after buying an additional 159 shares during the period. Finally, LRI Investments LLC purchased a new stake in Jacobs Solutions in the first quarter worth about $48,000. 85.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, SVP William B. Allen, Jr. sold 1,451 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.51, for a total transaction of $212,586.01. Following the completion of the transaction, the senior vice president now owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP William B. Allen, Jr. sold 1,451 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.51, for a total value of $212,586.01. Following the completion of the transaction, the senior vice president now directly owns 26,699 shares of the company’s stock, valued at $3,911,670.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christopher M.T. Thompson sold 1,898 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.85, for a total transaction of $286,313.30. Following the sale, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. The disclosure for this sale can be found here. Insiders sold a total of 21,516 shares of company stock valued at $3,132,273 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

J has been the topic of a number of research analyst reports. Truist Financial reiterated a “hold” rating and set a $158.00 target price (up previously from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. UBS Group upped their target price on shares of Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com cut shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Robert W. Baird cut their price objective on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions presently has an average rating of “Moderate Buy” and an average target price of $161.67.

Jacobs Solutions Stock Performance

J opened at $148.64 on Friday. Jacobs Solutions Inc. has a 12-month low of $120.71 and a 12-month high of $154.50. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.63 and a beta of 0.72. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $146.13 and its 200 day moving average is $144.13.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. Jacobs Solutions’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. On average, equities research analysts predict that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were given a $0.29 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 0.78%. Jacobs Solutions’s payout ratio is 22.39%.

About Jacobs Solutions

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.