Envestnet Asset Management Inc. Decreases Position in Jacobs Solutions Inc. (NYSE:J)

Envestnet Asset Management Inc. lessened its holdings in Jacobs Solutions Inc. (NYSE:J) by 13.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 309,819 shares of the company’s stock after selling 46,705 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of Jacobs Solutions worth $43,285,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Boston Partners increased its position in shares of Jacobs Solutions by 27.9% in the first quarter. Boston Partners now owns 3,697,086 shares of the company’s stock valued at $567,436,000 after acquiring an additional 805,657 shares during the period. TD Asset Management Inc increased its position in shares of Jacobs Solutions by 376.7% in the fourth quarter. TD Asset Management Inc now owns 276,578 shares of the company’s stock valued at $35,900,000 after acquiring an additional 218,560 shares during the period. Mesirow Financial Investment Management Inc. purchased a new position in shares of Jacobs Solutions in the first quarter valued at about $29,239,000. Epoch Investment Partners Inc. increased its position in shares of Jacobs Solutions by 20.0% in the fourth quarter. Epoch Investment Partners Inc. now owns 826,336 shares of the company’s stock valued at $107,258,000 after acquiring an additional 137,604 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Jacobs Solutions by 305.4% in the first quarter. Russell Investments Group Ltd. now owns 182,135 shares of the company’s stock valued at $27,910,000 after acquiring an additional 137,213 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

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

Jacobs Solutions Trading Up 2.7 %

Shares of NYSE J opened at $149.46 on Friday. The firm’s 50 day moving average price is $146.04 and its 200-day moving average price is $144.12. The company has a market cap of $18.71 billion, a PE ratio of 28.85, 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. 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 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 firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 earnings per share. On average, equities research analysts expect that Jacobs Solutions Inc. will post 7.97 EPS for the current fiscal 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%.

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.