Bank of New York Mellon Corp Reduces Holdings in Jacobs Solutions Inc. (NYSE:J)

Bank of New York Mellon Corp trimmed its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,128 shares of the company’s stock after selling 4,612 shares during the quarter. Bank of New York Mellon Corp’s holdings in Jacobs Solutions were worth $111,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of J. International Assets Investment Management LLC bought a new position in shares of Jacobs Solutions during the fourth quarter valued at about $3,622,000. GAMMA Investing LLC bought a new position in Jacobs Solutions during the 4th quarter valued at approximately $27,000. Headlands Technologies LLC purchased a new stake in Jacobs Solutions in the 4th quarter worth approximately $93,000. Russell Investments Group Ltd. grew its position in shares of Jacobs Solutions by 206.3% in the 4th quarter. Russell Investments Group Ltd. now owns 44,922 shares of the company’s stock worth $5,831,000 after buying an additional 30,257 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Jacobs Solutions by 104.0% during the fourth quarter. Van ECK Associates Corp now owns 11,405 shares of the company’s stock valued at $1,480,000 after buying an additional 5,813 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group lifted their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. William Blair lowered shares of Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 8th. Royal Bank of Canada increased their price target on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com cut Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Truist Financial reissued a “hold” rating and issued a $158.00 target price (up previously from $153.00) on shares of Jacobs Solutions in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.40.

Insider Activity

In other Jacobs Solutions news, SVP William B. Allen, Jr. sold 1,451 shares of Jacobs Solutions stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Jacobs Solutions news, SVP William B. Allen, Jr. sold 1,451 shares of the company’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 transaction, the senior vice president now owns 26,699 shares in the company, valued at approximately $3,911,670.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred 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 owns 527,138 shares of the company’s stock, valued at $77,426,029.44. The disclosure for this sale can be found here. Insiders have sold a total of 22,451 shares of company stock worth $3,196,336 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Jacobs Solutions Stock Down 0.0 %

Shares of NYSE:J opened at $149.97 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $143.56 and a two-hundred day simple moving average of $144.08. Jacobs Solutions Inc. has a 12-month low of $120.71 and a 12-month high of $154.50. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 28.95, a PEG ratio of 1.67 and a beta of 0.70.

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 return on equity of 14.59% and a net margin of 3.83%. Jacobs Solutions’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.82 EPS. On average, research analysts anticipate that Jacobs Solutions Inc. will post 7.98 earnings per share for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions’s payout ratio is 22.39%.

Jacobs Solutions Company 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.