Jacobs Solutions Inc. (NYSE:J) Position Increased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in shares of Jacobs Solutions Inc. (NYSE:J) by 56.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 176,316 shares of the company’s stock after buying an additional 63,345 shares during the quarter. Canada Pension Plan Investment Board owned 0.14% of Jacobs Solutions worth $24,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in Jacobs Solutions during the 2nd quarter valued at about $26,000. Bruce G. Allen Investments LLC grew its stake in 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 acquiring an additional 171 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Jacobs Solutions during the 4th quarter valued at about $30,000. Quarry LP grew its stake in Jacobs Solutions by 108.9% during the 4th quarter. Quarry LP now owns 305 shares of the company’s stock valued at $40,000 after acquiring an additional 159 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in Jacobs Solutions during the 1st quarter valued at about $48,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Robert W. Baird dropped their price objective on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Truist Financial restated a “hold” rating and issued a $158.00 price objective (up previously from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. UBS Group increased their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada increased their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com downgraded Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Jacobs Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $161.67.

Jacobs Solutions Price Performance

NYSE J opened at $148.64 on Monday. The stock has a 50-day simple moving average of $146.13 and a 200 day simple moving average of $144.09. Jacobs Solutions Inc. has a twelve month low of $120.71 and a twelve month high of $154.50. The stock has a market capitalization of $18.61 billion, a PE ratio of 28.69, a P/E/G ratio of 1.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, meeting the consensus estimate of $1.96. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 earnings per share. Research analysts anticipate that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend 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%.

Insider Activity

In related news, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction dated Thursday, August 29th. The stock was 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 of the company’s stock, valued at $6,346,108.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Shelette M. Gustafson sold 4,167 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the transaction, the executive vice president now owns 24,564 shares in the company, valued at approximately $3,688,038.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction dated 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 owns 42,069 shares in the company, valued at $6,346,108.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,516 shares of company stock valued at $3,132,273. Insiders own 1.00% of the company’s stock.

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.