Jacobs Solutions Inc. (NYSE:J) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in Jacobs Solutions Inc. (NYSE:J) by 6.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,391 shares of the company’s stock after selling 3,383 shares during the period. HighTower Advisors LLC’s holdings in Jacobs Solutions were worth $6,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EdgeRock Capital LLC acquired a new position in shares of Jacobs Solutions during the second quarter worth about $26,000. First Horizon Advisors Inc. lifted its position in Jacobs Solutions by 44.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after acquiring an additional 74 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Jacobs Solutions during the 3rd quarter worth approximately $42,000. True Wealth Design LLC acquired a new position in shares of Jacobs Solutions during the third quarter worth $44,000. Finally, GAMMA Investing LLC lifted its position in shares of Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock worth $53,000 after purchasing an additional 145 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

J has been the topic of a number of recent analyst reports. Raymond James upgraded shares of 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 Jacobs Solutions in a research note on Wednesday, December 4th. They issued a “hold” rating on the stock. Citigroup cut their price target on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating on the stock in a research note on Wednesday, November 20th. UBS Group upped their target price on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Robert W. Baird upped their target price on Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Jacobs Solutions Price Performance

J opened at $136.16 on Tuesday. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 2.08 and a beta of 0.70. Jacobs Solutions Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $150.54. The company’s 50-day moving average price is $140.09 and its 200 day moving average price is $142.42. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.30.

Jacobs Solutions (NYSE:J) last announced its quarterly 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). The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $4.50 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 6.06 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors 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 0.85%. Jacobs Solutions’s dividend payout ratio (DPR) is presently 18.33%.

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.