Glenmede Trust Co. NA Acquires 2,312 Shares of Jacobs Solutions Inc. (NYSE:J)

Glenmede Trust Co. NA raised its holdings in Jacobs Solutions Inc. (NYSE:J) by 58.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,261 shares of the company’s stock after purchasing an additional 2,312 shares during the quarter. Glenmede Trust Co. NA’s holdings in Jacobs Solutions were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Jacobs Solutions by 6.1% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,326,433 shares of the company’s stock worth $464,736,000 after buying an additional 192,166 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Jacobs Solutions by 11.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,212,285 shares of the company’s stock worth $169,366,000 after acquiring an additional 127,605 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Jacobs Solutions by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 760,516 shares of the company’s stock valued at $99,552,000 after purchasing an additional 14,405 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Jacobs Solutions by 12.0% during the second quarter. American Century Companies Inc. now owns 632,868 shares of the company’s stock worth $88,418,000 after purchasing an additional 67,821 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in Jacobs Solutions by 5.5% during the 2nd quarter. Ceredex Value Advisors LLC now owns 601,944 shares of the company’s stock worth $84,098,000 after purchasing an additional 31,225 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on J shares. Raymond James raised Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price objective on the stock in a report on Friday, October 4th. StockNews.com started coverage on shares of Jacobs Solutions in a research note on Tuesday, November 26th. They issued a “buy” rating on the stock. Royal Bank of Canada dropped their price objective on shares of Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Citigroup decreased their target price on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a research report on Wednesday, November 20th. Finally, Truist Financial dropped their price target on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Jacobs Solutions Stock Performance

NYSE J opened at $139.87 on Tuesday. Jacobs Solutions Inc. has a 1 year low of $104.90 and a 1 year high of $150.54. The firm has a market capitalization of $17.34 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.30. The firm’s 50 day simple moving average is $141.51 and its 200 day simple moving average is $142.39.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the business posted $1.90 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Jacobs Solutions Inc. will post 6.06 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, October 25th were issued a $0.29 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.83%. Jacobs Solutions’s dividend payout ratio (DPR) is currently 18.33%.

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.