Red Spruce Capital LLC Decreases Holdings in Jacobs Solutions Inc. (NYSE:J)

Red Spruce Capital LLC reduced its stake in Jacobs Solutions Inc. (NYSE:J) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,715 shares of the company’s stock after selling 408 shares during the period. Red Spruce Capital LLC’s holdings in Jacobs Solutions were worth $2,319,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in J. SG Americas Securities LLC raised its stake in shares of Jacobs Solutions by 212.3% during the third quarter. SG Americas Securities LLC now owns 62,274 shares of the company’s stock valued at $8,152,000 after purchasing an additional 42,334 shares during the period. Czech National Bank increased its stake in Jacobs Solutions by 6.9% during the 3rd quarter. Czech National Bank now owns 25,507 shares of the company’s stock worth $3,339,000 after buying an additional 1,646 shares during the period. Sanctuary Advisors LLC acquired a new position in Jacobs Solutions in the 2nd quarter worth $1,467,000. Old North State Trust LLC lifted its holdings in Jacobs Solutions by 8.4% in the 2nd quarter. Old North State Trust LLC now owns 2,711 shares of the company’s stock worth $379,000 after buying an additional 211 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in Jacobs Solutions by 43.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,075 shares of the company’s stock valued at $290,000 after buying an additional 626 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Stock Performance

Shares of J traded up $1.13 during midday trading on Friday, hitting $140.04. 961,133 shares of the stock traded hands, compared to its average volume of 686,054. The business’s 50 day moving average price is $145.39 and its two-hundred day moving average price is $143.79. The firm has a market capitalization of $17.53 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.70 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 Inc. has a 1-year low of $120.71 and a 1-year high of $156.31.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the firm earned $1.82 EPS. Jacobs Solutions’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that Jacobs Solutions Inc. will post 7.98 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.83%. The ex-dividend date is Friday, October 25th. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Insider Buying and Selling at Jacobs Solutions

In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.88, for a total value of $1,028,160.00. Following the completion of the sale, the insider now owns 527,138 shares of the company’s stock, valued at $77,426,029.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction on 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 on Thursday, August 1st. The shares were sold at an average price of $146.88, for a total value of $1,028,160.00. Following the completion of the transaction, the insider now owns 527,138 shares of the company’s stock, valued at $77,426,029.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,516 shares of company stock valued at $2,152,693 in the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial reiterated a “hold” rating and set a $158.00 target price (up from $153.00) on shares of Jacobs Solutions in a research note on Wednesday, August 7th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Wednesday. They issued a “buy” rating for the company. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a research note on Friday. UBS Group upped their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their target price on Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $161.50.

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.