Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Jacobs Solutions Inc. (NYSE:J)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Jacobs Solutions Inc. (NYSE:J) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,850 shares of the company’s stock after buying an additional 197 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Jacobs Solutions were worth $1,682,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC acquired a new stake in shares of Jacobs Solutions in the 3rd quarter worth $498,000. McKinley Carter Wealth Services Inc. boosted its holdings in Jacobs Solutions by 1.1% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 54,669 shares of the company’s stock valued at $7,156,000 after purchasing an additional 595 shares during the last quarter. Occidental Asset Management LLC grew its stake in shares of Jacobs Solutions by 7.8% in the 3rd quarter. Occidental Asset Management LLC now owns 22,426 shares of the company’s stock valued at $2,936,000 after buying an additional 1,618 shares during the period. Creative Planning increased its holdings in shares of Jacobs Solutions by 1.0% during the 3rd quarter. Creative Planning now owns 32,079 shares of the company’s stock worth $4,199,000 after buying an additional 327 shares during the last quarter. Finally, CX Institutional raised its position in shares of Jacobs Solutions by 8.5% during the 3rd quarter. CX Institutional now owns 8,015 shares of the company’s stock valued at $1,049,000 after buying an additional 629 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Jacobs Solutions Stock Performance

Shares of J stock opened at $143.52 on Tuesday. Jacobs Solutions Inc. has a 1 year low of $100.59 and a 1 year high of $144.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $17.97 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.39 and a beta of 0.72. The stock’s 50-day moving average is $144.64 and its two-hundred day moving average is $142.86.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.96. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.82 earnings per share. Analysts predict that Jacobs Solutions Inc. will post 7.95 earnings per share for the current year.

Jacobs Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, October 25th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.81%. Jacobs Solutions’s dividend payout ratio is presently 22.39%.

Insider Activity

In related news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 527,138 shares of the company’s stock, valued at $77,426,029.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.88, for a total value of $1,028,160.00. Following the sale, the insider now directly owns 527,138 shares in the company, valued at $77,426,029.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shelette M. Gustafson sold 4,167 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.14, for a total transaction of $625,633.38. Following the sale, the executive vice president now directly owns 24,564 shares in the company, valued at $3,688,038.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,516 shares of company stock valued at $2,152,693. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com initiated coverage on Jacobs Solutions in a research note on Wednesday, October 2nd. They issued a “buy” rating on the stock. Truist Financial dropped their price target on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price objective 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. Robert W. Baird dropped their target price on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.60.

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.