Renaissance Technologies LLC Acquires 90,200 Shares of Jacobs Solutions Inc. (NYSE:J)

Renaissance Technologies LLC lifted its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 117.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 166,800 shares of the company’s stock after acquiring an additional 90,200 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of Jacobs Solutions worth $23,304,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in J. EdgeRock Capital LLC bought a new position in Jacobs Solutions during the second quarter worth $26,000. Bruce G. Allen Investments LLC lifted its stake 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 worth $29,000 after buying an additional 171 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Jacobs Solutions during the 4th quarter worth about $30,000. Quarry LP boosted its holdings in shares of Jacobs Solutions by 108.9% during the 4th quarter. Quarry LP now owns 305 shares of the company’s stock worth $40,000 after buying an additional 159 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Jacobs Solutions in the 1st quarter valued at about $48,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

J has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Robert W. Baird reduced their price target on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research note 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 research report on Wednesday, August 14th. Truist Financial reissued a “hold” rating and set a $158.00 target price (up previously from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Jacobs Solutions has a consensus rating of “Moderate Buy” and an average target price of $161.67.

Jacobs Solutions Trading Down 0.5 %

J opened at $148.64 on Friday. The stock has a market capitalization of $18.61 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 1.63 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. Jacobs Solutions Inc. has a twelve month low of $120.71 and a twelve month high of $154.50. The company has a 50-day simple moving average of $146.13 and a 200 day simple moving average of $144.13.

Jacobs Solutions (NYSE:J) last posted its quarterly 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 business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.82 EPS. Analysts predict that Jacobs Solutions Inc. will post 7.97 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The firm also recently declared 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 was Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.78%. Jacobs Solutions’s dividend payout ratio (DPR) is currently 22.39%.

Insider Buying and Selling

In other news, SVP William B. Allen, Jr. sold 1,451 shares of the 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 completion of the transaction, the senior vice president now owns 26,699 shares of the company’s stock, valued at $3,911,670.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Christopher M.T. Thompson sold 1,898 shares of the firm’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 owns 42,069 shares of the company’s stock, valued at approximately $6,346,108.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.51, for a total value 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 approximately $3,911,670.49. The disclosure for this sale can be found here. Insiders sold a total of 21,516 shares of company stock worth $3,132,273 in the last ninety days. 1.00% of the stock is owned by insiders.

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.