Cornerstone Wealth Management LLC Buys New Shares in Jacobs Solutions Inc. (NYSE:J)

Cornerstone Wealth Management LLC purchased a new stake in Jacobs Solutions Inc. (NYSE:J) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,805 shares of the company’s stock, valued at approximately $498,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. McKinley Carter Wealth Services Inc. raised its stake in Jacobs Solutions by 1.1% in the third quarter. McKinley Carter Wealth Services Inc. now owns 54,669 shares of the company’s stock valued at $7,156,000 after buying an additional 595 shares in the last quarter. Occidental Asset Management LLC increased its position in shares of Jacobs Solutions by 7.8% during the third quarter. Occidental Asset Management LLC now owns 22,426 shares of the company’s stock worth $2,936,000 after purchasing an additional 1,618 shares in the last quarter. Creative Planning increased its position in shares of Jacobs Solutions by 1.0% during the third quarter. Creative Planning now owns 32,079 shares of the company’s stock worth $4,199,000 after purchasing an additional 327 shares in the last quarter. CX Institutional increased its position in shares of Jacobs Solutions by 8.5% during the third quarter. CX Institutional now owns 8,015 shares of the company’s stock worth $1,049,000 after purchasing an additional 629 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Jacobs Solutions by 219.5% during the third quarter. Exchange Traded Concepts LLC now owns 6,707 shares of the company’s stock worth $878,000 after purchasing an additional 4,608 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.51, for a total value of $212,586.01. Following the sale, the senior vice president now owns 26,699 shares in the company, valued at $3,911,670.49. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Jacobs Solutions 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 sale, the insider now owns 527,138 shares in the company, valued at approximately $77,426,029.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP William B. Allen, Jr. sold 1,451 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.51, for a total value of $212,586.01. Following the sale, the senior vice president now owns 26,699 shares in the company, valued at approximately $3,911,670.49. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,516 shares of company stock worth $2,152,693 in the last quarter. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on J shares. Truist Financial cut their target price on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. UBS Group lifted their target price on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research report on Friday, October 4th. Royal Bank of Canada boosted their price target on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com began coverage on Jacobs Solutions in a research report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $159.60.

Jacobs Solutions Stock Performance

NYSE J opened at $143.90 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $144.64 and its two-hundred day moving average is $142.99. Jacobs Solutions Inc. has a 12-month low of $100.59 and a 12-month high of $143.96. The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 1.39 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last released 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. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the firm posted $1.82 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts expect that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, October 25th. Jacobs Solutions’s dividend payout ratio is currently 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.