Jacobs Solutions Inc. $J Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors increased its Jacobs Solutions stake by 3,316.1% in the first quarter, acquiring 386,822 additional shares to hold 398,487 shares worth approximately $50.7 million. Institutional investors collectively own 85.65% of the company.
• Jacobs Solutions reported quarterly EPS of $1.75, beating estimates by $0.11, while revenue reached $2.33 billion, up 8.9% year over year. Insiders also purchased 4,257 shares worth $477,651 over the past three months.
• The company declared a quarterly dividend of $0.36 per share, implying an annualized yield of 1.0%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $153.30.

Pacer Advisors Inc. raised its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 3,316.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 398,487 shares of the company's stock after acquiring an additional 386,822 shares during the period. Pacer Advisors Inc. owned 0.34% of Jacobs Solutions worth $50,719,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in J. Measured Wealth Private Client Group LLC acquired a new stake in shares of Jacobs Solutions during the third quarter worth $27,000. Wealth Watch Advisors INC purchased a new position in Jacobs Solutions during the third quarter worth about $33,000. Princeton Global Asset Management LLC purchased a new position in Jacobs Solutions during the fourth quarter worth about $30,000. International Assets Investment Management LLC acquired a new stake in Jacobs Solutions in the 4th quarter worth about $38,000. Finally, Torren Management LLC acquired a new stake in Jacobs Solutions in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 85.65% of the company's stock.

Insider Buying and Selling

In other Jacobs Solutions news, Director Manuel J. Fernandez purchased 253 shares of Jacobs Solutions stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $112.56 per share, with a total value of $28,477.68. Following the completion of the transaction, the director directly owned 12,504 shares in the company, valued at approximately $1,407,450.24. This represents a 2.07% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert V. Pragada purchased 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, for a total transaction of $400,035.09. Following the completion of the transaction, the chief executive officer owned 333,755 shares of the company's stock, valued at $37,076,842.95. This represents a 1.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 4,257 shares of company stock valued at $477,651. Corporate insiders own 0.48% of the company's stock.

Jacobs Solutions Price Performance

J stock opened at $138.72 on Tuesday. The stock has a 50-day moving average price of $126.54 and a two-hundred day moving average price of $129.11. Jacobs Solutions Inc. has a 12-month low of $105.68 and a 12-month high of $168.44. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.24. The company has a market cap of $16.38 billion, a PE ratio of 43.08, a price-to-earnings-growth ratio of 1.31 and a beta of 0.68.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.64 by $0.11. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.28 billion. Jacobs Solutions had a return on equity of 22.29% and a net margin of 2.92%.The firm's revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, research analysts predict that Jacobs Solutions Inc. will post 7.22 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, August 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.0%. Jacobs Solutions's payout ratio is presently 44.72%.

Analyst Upgrades and Downgrades

Several analysts have commented on J shares. Robert W. Baird lowered their price target on Jacobs Solutions from $130.00 to $126.00 and set a "neutral" rating for the company in a report on Monday, April 13th. Citigroup raised their target price on shares of Jacobs Solutions from $180.00 to $181.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. KeyCorp lowered their target price on shares of Jacobs Solutions from $154.00 to $150.00 and set an "overweight" rating for the company in a report on Wednesday, May 6th. Wells Fargo & Company lowered their target price 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, Weiss Ratings downgraded shares of Jacobs Solutions from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Jacobs Solutions has a consensus rating of "Moderate Buy" and an average price target of $153.30.

About Jacobs Solutions

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.

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