CIBC Asset Management Inc Raises Position in Jacobs Solutions Inc. $J

Key Points

• CIBC Asset Management increased its Jacobs Solutions stake by 40.3% in the fourth quarter, bringing its holdings to 37,270 shares valued at about $4.94 million.
• Two top executives also bought shares recently: Director Manuel J. Fernandez and CEO Robert V. Pragada made insider purchases totaling 4,257 shares worth about $477,651 over the last 90 days.
• Jacobs Solutions beat quarterly earnings and revenue expectations, reported $1.75 EPS on $2.33 billion in revenue, and declared a quarterly dividend of $0.36 per share payable June 19.

CIBC Asset Management Inc grew its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 40.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 37,270 shares of the company's stock after buying an additional 10,710 shares during the period. CIBC Asset Management Inc's holdings in Jacobs Solutions were worth $4,937,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in Jacobs Solutions in the third quarter worth about $27,000. Wealth Watch Advisors INC purchased a new position in Jacobs Solutions in the third quarter worth about $33,000. Princeton Global Asset Management LLC purchased a new position in Jacobs Solutions in the fourth quarter worth about $30,000. Central Pacific Bank Trust Division purchased a new position in Jacobs Solutions in the fourth quarter worth about $31,000. Finally, International Assets Investment Management LLC purchased a new position in Jacobs Solutions in the fourth quarter worth about $38,000. 85.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Jacobs Solutions news, Director Manuel J. Fernandez bought 253 shares of Jacobs Solutions stock in a transaction on Wednesday, May 13th. The stock was acquired at an average cost of $112.56 per share, with a total value of $28,477.68. Following the completion of the acquisition, the director owned 12,504 shares in the company, valued at approximately $1,407,450.24. This represents a 2.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert V. Pragada bought 3,601 shares of Jacobs Solutions stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $111.09 per share, with a total value of $400,035.09. Following the completion of the acquisition, the chief executive officer owned 333,755 shares of the company's stock, valued at $37,076,842.95. The trade was a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 4,257 shares of company stock valued at $477,651. 0.48% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on J shares. Citigroup boosted their price objective on shares of Jacobs Solutions from $180.00 to $181.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Royal Bank Of Canada reissued an "outperform" rating and set a $169.00 price objective on shares of Jacobs Solutions in a report on Tuesday, May 19th. Weiss Ratings cut shares of Jacobs Solutions from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on shares of Jacobs Solutions from $137.00 to $131.00 and set an "equal weight" rating for the company in a report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Jacobs Solutions from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $153.40.

Jacobs Solutions Stock Down 0.7%

J opened at $122.69 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average price of $122.82 and a 200-day moving average price of $131.66. Jacobs Solutions Inc. has a twelve month low of $105.68 and a twelve month high of $168.44. The stock has a market capitalization of $14.49 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 1.19 and a beta of 0.69.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. Jacobs Solutions had a net margin of 2.92% and a return on equity of 22.29%. The firm had revenue of $2.33 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period in the previous year, the company earned $1.43 earnings per share. The firm's quarterly revenue was up 8.9% on a year-over-year basis. Jacobs Solutions has set its FY 2026 guidance at 7.100-7.350 EPS. Equities research analysts forecast that Jacobs Solutions Inc. will post 7.22 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 22nd will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 22nd. Jacobs Solutions's dividend payout ratio is currently 44.72%.

Jacobs Solutions Company Profile

Jacobs Solutions Inc, commonly known as Jacobs, is a global professional services firm that provides technical, engineering, scientific and project delivery expertise across a broad range of industries. Founded in 1947 by Joseph J. Jacobs in Pasadena, California, the company evolved from a regional engineering consultancy into a diversified provider of design, program and construction management, operations and maintenance, and scientific services for complex infrastructure and industrial programs.

Want to see what other hedge funds are holding J? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jacobs Solutions Inc. (NYSE:J - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.