Bank of New York Mellon Corp Sells 79,838 Shares of Jacobs Solutions Inc. (NYSE:J)

Bank of New York Mellon Corp cut its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 8.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 816,166 shares of the company's stock after selling 79,838 shares during the quarter. Bank of New York Mellon Corp owned 0.67% of Jacobs Solutions worth $98,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Portfolio Solutions LLC grew its stake in shares of Jacobs Solutions by 0.8% in the fourth quarter. Orion Portfolio Solutions LLC now owns 11,006 shares of the company's stock valued at $1,471,000 after buying an additional 83 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Jacobs Solutions by 5.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,731 shares of the company's stock worth $231,000 after purchasing an additional 87 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Jacobs Solutions by 4.3% during the 1st quarter. Avidian Wealth Enterprises LLC now owns 2,111 shares of the company's stock worth $255,000 after purchasing an additional 87 shares during the last quarter. Evoke Wealth LLC increased its stake in shares of Jacobs Solutions by 0.7% during the 4th quarter. Evoke Wealth LLC now owns 12,385 shares of the company's stock worth $1,655,000 after purchasing an additional 88 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Jacobs Solutions by 42.7% in the 4th quarter. Assetmark Inc. now owns 334 shares of the company's stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Stock Performance

Shares of J traded up $2.07 during mid-day trading on Thursday, hitting $136.27. 668,048 shares of the company's stock were exchanged, compared to its average volume of 798,294. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.68. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. The stock's 50-day simple moving average is $127.62 and its 200-day simple moving average is $127.55. Jacobs Solutions Inc. has a 52 week low of $106.23 and a 52 week high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. Jacobs Solutions's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. On average, equities research analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 23rd were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. Jacobs Solutions's dividend payout ratio is 35.26%.

Analysts Set New Price Targets

J has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Truist Financial raised their price target on Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a report on Monday, May 12th. Citigroup decreased their price objective on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Royal Bank Of Canada raised their target price on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Jacobs Solutions presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.86.

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.