PNC Financial Services Group Inc. Sells 4,990 Shares of Jacobs Solutions Inc. (NYSE:J)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Jacobs Solutions by 11.8%, selling 4,990 shares, and now holds a total of 37,150 shares valued at approximately $4.49 million.
• Several institutional investors have recently increased their positions in Jacobs Solutions, with Colonial Trust Co SC raising its stake by 10,250.0%.
• A number of brokerages have raised their price targets for Jacobs Solutions, with a consensus target of $155.25 and an average rating of "Moderate Buy" from analysts.

PNC Financial Services Group Inc. cut its holdings in Jacobs Solutions Inc. (NYSE:J - Free Report) by 11.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,150 shares of the company's stock after selling 4,990 shares during the period. PNC Financial Services Group Inc.'s holdings in Jacobs Solutions were worth $4,491,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Colonial Trust Co SC increased its stake in Jacobs Solutions by 10,250.0% in the 4th quarter. Colonial Trust Co SC now owns 207 shares of the company's stock valued at $28,000 after buying an additional 205 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Jacobs Solutions in the first quarter valued at approximately $33,000. Optiver Holding B.V. increased its position in shares of Jacobs Solutions by 113.8% during the fourth quarter. Optiver Holding B.V. now owns 357 shares of the company's stock valued at $48,000 after acquiring an additional 190 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in Jacobs Solutions by 1,685.7% during the first quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock worth $45,000 after acquiring an additional 354 shares during the period. Finally, Transce3nd LLC bought a new stake in Jacobs Solutions during the fourth quarter worth $53,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on J. UBS Group upped their price objective on Jacobs Solutions from $152.00 to $166.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup raised their price objective on shares of Jacobs Solutions from $147.47 to $166.00 and gave the stock a "buy" rating in a report on Monday, July 28th. KeyCorp boosted their target price on shares of Jacobs Solutions from $155.00 to $157.00 and gave the company an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada upped their price target on Jacobs Solutions from $152.00 to $154.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Truist Financial increased their price target on Jacobs Solutions from $130.00 to $141.00 and gave the stock a "hold" rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions presently has an average rating of "Moderate Buy" and an average price target of $155.25.

Jacobs Solutions Price Performance

Shares of NYSE J opened at $146.94 on Friday. The stock has a fifty day moving average of $133.72 and a 200-day moving average of $128.36. The stock has a market cap of $17.57 billion, a PE ratio of 36.64, a price-to-earnings-growth ratio of 2.05 and a beta of 0.79. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.39. Jacobs Solutions Inc. has a fifty-two week low of $106.23 and a fifty-two week high of $150.54.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.06. Jacobs Solutions had a return on equity of 17.13% and a net margin of 4.16%. 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 business posted $1.96 earnings per share. The company's revenue was down 28.4% on a year-over-year basis. Equities research analysts anticipate that Jacobs Solutions Inc. will post 6.05 earnings per share for the current 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 issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 22nd. Jacobs Solutions's dividend payout ratio (DPR) is presently 31.92%.

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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