Van ECK Associates Corp Grows Position in Jacobs Solutions Inc. (NYSE:J)

Van ECK Associates Corp grew its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 63.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 36,348 shares of the company’s stock after acquiring an additional 14,116 shares during the quarter. Van ECK Associates Corp’s holdings in Jacobs Solutions were worth $5,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in J. EdgeRock Capital LLC purchased a new stake in shares of Jacobs Solutions during the 2nd quarter valued at $26,000. GAMMA Investing LLC purchased a new stake in shares of Jacobs Solutions during the 4th quarter valued at $27,000. Bruce G. Allen Investments LLC increased its position 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 during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Jacobs Solutions during the 4th quarter valued at $30,000. Finally, Union Savings Bank increased its position in shares of Jacobs Solutions by 78.1% during the 4th quarter. Union Savings Bank now owns 285 shares of the company’s stock valued at $37,000 after purchasing an additional 125 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Jacobs Solutions Price Performance

Shares of Jacobs Solutions stock opened at $147.15 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14. The business’s 50 day simple moving average is $144.60 and its two-hundred day simple moving average is $144.26. The stock has a market capitalization of $18.28 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. Jacobs Solutions Inc. has a one year low of $120.71 and a one year high of $154.50.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting analysts’ consensus estimates of $1.96. The business had revenue of $4.23 billion for 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%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.82 EPS. Analysts forecast that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were paid 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 0.79%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Insider Activity

In other news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction that occurred 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 sale, the executive vice president now owns 24,564 shares in the company, valued at $3,688,038.96. 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. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. William Blair lowered Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. Royal Bank of Canada lifted 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. Robert W. Baird decreased their price objective on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. UBS Group lifted 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. Finally, Truist Financial reissued 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. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and an average price target of $160.40.

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.