Jacobs Solutions Inc. (NYSE:J) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA sold 453,410 shares of Jacobs Solutions, reducing its holdings by 8.9% to own about 3.80% of the company.
• Jacobs Solutions recently declared a quarterly dividend of $0.32 per share, which equates to an annualized yield of 0.9%.
• The stock has a market cap of $17.44 billion and reported $1.62 EPS for the last quarter, surpassing analysts' expectations.

Primecap Management Co. CA decreased its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 8.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,653,442 shares of the company's stock after selling 453,410 shares during the quarter. Primecap Management Co. CA owned about 3.80% of Jacobs Solutions worth $562,555,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Jacobs Solutions by 21.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,894 shares of the company's stock worth $1,684,000 after acquiring an additional 2,457 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Jacobs Solutions by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 127,215 shares of the company's stock valued at $15,379,000 after buying an additional 3,451 shares during the last quarter. Gibraltar Capital Management Inc. raised its stake in shares of Jacobs Solutions by 13.9% during the 1st quarter. Gibraltar Capital Management Inc. now owns 56,003 shares of the company's stock valued at $6,770,000 after buying an additional 6,824 shares during the last quarter. DAVENPORT & Co LLC raised its stake in shares of Jacobs Solutions by 12.7% during the 1st quarter. DAVENPORT & Co LLC now owns 19,776 shares of the company's stock valued at $2,391,000 after buying an additional 2,222 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of Jacobs Solutions by 5.5% during the 4th quarter. Evergreen Capital Management LLC now owns 69,123 shares of the company's stock valued at $9,236,000 after buying an additional 3,609 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Jacobs Solutions Trading Up 3.8%

Shares of Jacobs Solutions stock opened at $145.18 on Wednesday. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $150.54. The stock has a market cap of $17.44 billion, a P/E ratio of 39.99, a P/E/G ratio of 1.97 and a beta of 0.79. The stock's 50 day simple moving average is $132.90 and its 200-day simple moving average is $128.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.50 and a quick ratio of 1.50.

Jacobs Solutions (NYSE:J - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Jacobs Solutions had a return on equity of 15.67% and a net margin of 3.53%. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.09 billion. During the same period in the prior year, the firm posted $1.96 earnings per share. The firm's quarterly revenue was down 28.4% on a year-over-year basis. Analysts predict that Jacobs Solutions Inc. will post 6.05 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 22nd. Jacobs Solutions's dividend payout ratio is 35.26%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on J. Royal Bank Of Canada lifted their price target on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. KeyCorp upgraded Jacobs Solutions from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective on the stock in a report on Wednesday, July 16th. Truist Financial lifted their price objective on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a report on Monday, May 12th. UBS Group lowered their target price on Jacobs Solutions from $154.00 to $152.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Citigroup boosted their target price on Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $153.25.

About Jacobs Solutions

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.

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