King Luther Capital Management Corp Sells 2,305 Shares of Jacobs Solutions Inc. (NYSE:J)

King Luther Capital Management Corp cut its holdings in Jacobs Solutions Inc. (NYSE:J) by 35.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,238 shares of the company’s stock after selling 2,305 shares during the period. King Luther Capital Management Corp’s holdings in Jacobs Solutions were worth $592,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of J. Waters Parkerson & CO. LLC boosted its position in Jacobs Solutions by 1.2% during the second quarter. Waters Parkerson & CO. LLC now owns 204,699 shares of the company’s stock worth $28,598,000 after purchasing an additional 2,429 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Jacobs Solutions by 56.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 176,316 shares of the company’s stock worth $24,633,000 after buying an additional 63,345 shares during the period. Intech Investment Management LLC grew its stake in Jacobs Solutions by 196.5% in the 2nd quarter. Intech Investment Management LLC now owns 22,607 shares of the company’s stock valued at $3,158,000 after buying an additional 14,982 shares during the last quarter. XTX Topco Ltd bought a new position in Jacobs Solutions in the 2nd quarter worth $1,189,000. Finally, Seven Eight Capital LP acquired a new position in Jacobs Solutions during the 2nd quarter worth $656,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP William B. Allen, Jr. sold 1,451 shares of Jacobs Solutions stock in a transaction dated 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 approximately $3,911,670.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP William B. Allen, Jr. sold 1,451 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was 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 in the company, valued at approximately $3,911,670.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction on Monday, July 1st. The shares were sold at an average price of $139.94, for a total value of $979,580.00. Following the completion of the transaction, the insider now owns 534,138 shares of the company’s stock, valued at approximately $74,747,271.72. The disclosure for this sale can be found here. Insiders sold 21,516 shares of company stock worth $3,132,273 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on J. 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 research note on Wednesday, August 7th. Truist Financial reaffirmed a “hold” rating and issued a $158.00 price target (up from $153.00) on shares of Jacobs Solutions in a research report on Wednesday, August 7th. UBS Group increased their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada boosted their target price 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. Finally, StockNews.com downgraded shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.67.

Jacobs Solutions Trading Down 0.5 %

Shares of Jacobs Solutions stock opened at $148.64 on Monday. Jacobs Solutions Inc. has a 52-week low of $120.71 and a 52-week high of $154.50. The firm has a market capitalization of $18.61 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72. 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 company’s fifty day moving average price is $146.13 and its two-hundred day moving average price is $144.09.

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 firm had revenue of $4.23 billion during 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 company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.82 earnings per share. On average, analysts expect that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions’s dividend payout ratio is 22.39%.

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.