Varma Mutual Pension Insurance Co Sells 60,500 Shares of Jacobs Solutions Inc. (NYSE:J)

Varma Mutual Pension Insurance Co cut its stake in Jacobs Solutions Inc. (NYSE:J) by 52.2% in the 2nd quarter, Holdings Channel reports. The fund owned 55,300 shares of the company’s stock after selling 60,500 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Jacobs Solutions were worth $7,726,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in J. Massachusetts Financial Services Co. MA boosted its holdings in shares of Jacobs Solutions by 134.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,658,049 shares of the company’s stock worth $215,215,000 after purchasing an additional 951,369 shares in the last quarter. Boston Partners grew its position in Jacobs Solutions by 27.9% during the first quarter. Boston Partners now owns 3,697,086 shares of the company’s stock valued at $567,436,000 after acquiring an additional 805,657 shares during the last quarter. Panagora Asset Management Inc. grew its position in Jacobs Solutions by 14,897.6% during the fourth quarter. Panagora Asset Management Inc. now owns 321,548 shares of the company’s stock valued at $41,737,000 after acquiring an additional 319,404 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Jacobs Solutions by 63.1% during the fourth quarter. Corient Private Wealth LLC now owns 566,841 shares of the company’s stock worth $73,576,000 after acquiring an additional 219,221 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Jacobs Solutions by 376.7% in the 4th quarter. TD Asset Management Inc now owns 276,578 shares of the company’s stock worth $35,900,000 after acquiring an additional 218,560 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial reissued a “hold” rating and issued a $158.00 price target (up from $153.00) on shares of Jacobs Solutions in a research note on Wednesday, August 7th. StockNews.com cut Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. UBS Group lifted their price target on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Robert W. Baird lowered their price objective on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their target price on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Jacobs Solutions has an average rating of “Moderate Buy” and a consensus target price of $160.40.

Insider Buying and Selling at Jacobs Solutions

In related news, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.85, for a total transaction of $286,313.30. Following the sale, the director now owns 42,069 shares of the company’s stock, valued at $6,346,108.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Jacobs Solutions news, Director Christopher M.T. Thompson sold 1,898 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the completion of the transaction, the director now owns 42,069 shares in the company, valued at $6,346,108.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $139.94, for a total transaction of $979,580.00. Following the sale, the insider now directly owns 534,138 shares in the company, valued at $74,747,271.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,516 shares of company stock valued at $3,132,273. 1.00% of the stock is currently owned by company insiders.

Jacobs Solutions Stock Up 1.9 %

Shares of NYSE J opened at $144.56 on Tuesday. The firm has a fifty day simple moving average of $145.02 and a two-hundred day simple moving average of $144.21. Jacobs Solutions Inc. has a 12 month low of $120.71 and a 12 month high of $154.50. 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 firm has a market capitalization of $18.10 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 1.63 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.96. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.82 EPS. Equities analysts expect that Jacobs Solutions Inc. will post 7.97 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a $0.29 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a yield of 0.80%. Jacobs Solutions’s dividend payout ratio (DPR) 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.