Park Avenue Securities LLC Reduces Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Park Avenue Securities LLC decreased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 15.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,531 shares of the company’s stock after selling 991 shares during the quarter. Park Avenue Securities LLC’s holdings in Jacobs Solutions were worth $724,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EdgeRock Capital LLC purchased a new position in Jacobs Solutions during the second quarter valued at approximately $26,000. Bruce G. Allen Investments LLC grew its stake in shares of Jacobs Solutions by 427.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock valued at $29,000 after buying an additional 171 shares during the period. Quarry LP increased 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 last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Jacobs Solutions during the 1st quarter valued at approximately $48,000. Finally, LRI Investments LLC acquired a new position in Jacobs Solutions in the first quarter valued at approximately $48,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Trading Down 0.4 %

NYSE:J opened at $136.76 on Friday. The company has a market capitalization of $17.12 billion, a PE ratio of 26.41, a P/E/G ratio of 1.70 and a beta of 0.72. Jacobs Solutions Inc. has a 52-week low of $120.71 and a 52-week high of $156.31. The stock’s 50 day moving average price is $144.88 and its 200 day moving average price is $143.51. 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 (NYSE:J) last announced its earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, meeting 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 net margin of 3.72% and a return on equity of 14.76%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.82 EPS. On average, research analysts anticipate that Jacobs Solutions Inc. will post 7.98 EPS for the current year.

Jacobs Solutions Dividend Announcement

The business also recently declared 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 0.85%. The ex-dividend date is Friday, October 25th. Jacobs Solutions’s dividend payout ratio (DPR) is presently 22.39%.

Insider Buying and Selling at Jacobs Solutions

In related news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the completion of the sale, the insider now directly owns 527,138 shares of the company’s stock, valued at $77,426,029.44. This trade represents 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 through this link. In other news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the transaction, the insider now directly owns 527,138 shares in the company, valued at $77,426,029.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William B. Allen, Jr. sold 1,451 shares of the firm’s 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 sale, the senior vice president now owns 26,699 shares of the company’s stock, valued at approximately $3,911,670.49. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,516 shares of company stock valued at $2,152,693 in the last ninety days. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

J has been the topic of a number of recent analyst reports. UBS Group upped their target price 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. Raymond James raised Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Friday, October 4th. Robert W. Baird dropped their price objective 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. Truist Financial lowered their target price on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, StockNews.com assumed coverage on Jacobs Solutions in a report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $159.60.

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.