Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Jacobs Solutions Inc. (NYSE:J) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,653 shares of the company’s stock after buying an additional 165 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Jacobs Solutions were worth $1,768,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new stake in shares of Jacobs Solutions in the second quarter valued at $26,000. GAMMA Investing LLC acquired a new position in Jacobs Solutions in the 4th quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its stake in Jacobs Solutions by 427.5% during the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Jacobs Solutions during the fourth quarter worth about $30,000. Finally, Union Savings Bank lifted its position in shares of Jacobs Solutions by 78.1% during the fourth quarter. Union Savings Bank now owns 285 shares of the company’s stock worth $37,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $139.43, for a total transaction of $976,010.00. Following the completion of the transaction, the insider now owns 541,138 shares in the company, valued at approximately $75,450,871.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $139.43, for a total transaction of $976,010.00. Following the sale, the insider now owns 541,138 shares of the company’s stock, valued at $75,450,871.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP William B. Allen, Jr. sold 1,451 shares of Jacobs Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.51, for a total transaction of $212,586.01. Following the sale, the senior vice president now owns 26,699 shares of the company’s stock, valued at $3,911,670.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,451 shares of company stock worth $3,196,336. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

J has been the subject of several recent research reports. Robert W. Baird decreased their price target on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. StockNews.com downgraded Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. William Blair lowered Jacobs Solutions from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 8th. Royal Bank of Canada boosted their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $158.00 target price (up previously from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Jacobs Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $160.40.

Jacobs Solutions Price Performance

J stock opened at $150.88 on Friday. 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 company has a market capitalization of $18.89 billion, a P/E ratio of 29.13, a PEG ratio of 1.67 and a beta of 0.70. The business has a 50 day simple moving average of $144.28 and a 200-day simple moving average of $144.23. Jacobs Solutions Inc. has a twelve month low of $120.71 and a twelve month high of $154.50.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data 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 net margin of 3.83% and a return on equity of 14.59%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the firm posted $1.82 EPS. Jacobs Solutions’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Jacobs Solutions Inc. will post 7.98 EPS for the current year.

Jacobs Solutions Dividend Announcement

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

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.