Victory Capital Management Inc. Increases Stock Position in Jacobs Solutions Inc. (NYSE:J)

Victory Capital Management Inc. lifted its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,119 shares of the company’s stock after purchasing an additional 2,351 shares during the period. Victory Capital Management Inc. owned about 0.17% of Jacobs Solutions worth $29,356,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of J. Capital World Investors boosted its stake in shares of Jacobs Solutions by 0.8% during the 4th quarter. Capital World Investors now owns 6,398,776 shares of the company’s stock worth $830,561,000 after purchasing an additional 49,545 shares during the last quarter. Boston Partners boosted 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 worth $567,436,000 after acquiring an additional 805,657 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in 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 acquiring an additional 951,369 shares during the period. Dimensional Fund Advisors LP raised its holdings in Jacobs Solutions by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,089,158 shares of the company’s stock valued at $141,375,000 after acquiring an additional 19,541 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Jacobs Solutions by 20.0% in the 4th quarter. Epoch Investment Partners Inc. now owns 826,336 shares of the company’s stock valued at $107,258,000 after acquiring an additional 137,604 shares during the last quarter. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Jacobs Solutions Price Performance

J opened at $143.14 on Wednesday. Jacobs Solutions Inc. has a 52-week low of $120.71 and a 52-week high of $154.50. The company has a 50 day moving average of $145.12 and a two-hundred day moving average of $144.19. The company has a market cap of $17.92 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.63 and a beta of 0.72. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31.

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

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.16 annualized dividend and a dividend yield of 0.81%. Jacobs Solutions’s payout ratio is currently 22.39%.

Insider Buying and Selling

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

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.