Thrivent Financial for Lutherans Grows Stake in Jacobs Solutions Inc. (NYSE:J)

Thrivent Financial for Lutherans raised its holdings in Jacobs Solutions Inc. (NYSE:J) by 5,170.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 419,075 shares of the company’s stock after buying an additional 411,123 shares during the quarter. Thrivent Financial for Lutherans owned about 0.33% of Jacobs Solutions worth $58,550,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in J. EdgeRock Capital LLC purchased a new position in shares of Jacobs Solutions during the second quarter valued at about $26,000. Bruce G. Allen Investments LLC raised its position in shares of Jacobs Solutions by 427.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Jacobs Solutions in the 4th quarter valued at approximately $30,000. Quarry LP boosted 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 purchasing an additional 159 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Jacobs Solutions in the first quarter worth $48,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

J opened at $148.64 on Monday. The company’s 50-day simple moving average is $146.13 and its two-hundred day simple moving average is $144.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $18.61 billion, a P/E ratio of 28.69, a P/E/G ratio of 1.63 and a beta of 0.72. Jacobs Solutions Inc. has a 52-week low of $120.71 and a 52-week high of $154.50.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.96. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.82 earnings per share. As a group, analysts predict that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Dividend Announcement

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $139.94, for a total transaction of $979,580.00. Following the completion of the sale, the insider now directly owns 534,138 shares in the company, valued at $74,747,271.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Steven J. Demetriou sold 7,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $139.94, for a total value of $979,580.00. Following the transaction, the insider now directly owns 534,138 shares of the company’s stock, valued at approximately $74,747,271.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP William B. Allen, Jr. sold 1,451 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.51, for a total value of $212,586.01. Following the sale, the senior vice president now directly owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,516 shares of company stock valued at $3,132,273. Insiders own 1.00% of the company’s stock.

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.