Shell Asset Management Co. Increases Stock Position in Jacobs Solutions Inc. $J

Key Points

• Shell Asset Management Co. increased its stake in Jacobs Solutions Inc. by 61.0% during Q2, owning 19,403 shares valued at approximately $2.55 million.
• Jacobs Solutions reported Q2 earnings of $1.62 per share, slightly exceeding estimates, but experienced a 28.4% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.32 per share, representing an annualized yield of 0.8% and a payout ratio of 31.92%.

Shell Asset Management Co. grew its position in Jacobs Solutions Inc. (NYSE:J - Free Report) by 61.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,403 shares of the company's stock after purchasing an additional 7,352 shares during the period. Shell Asset Management Co.'s holdings in Jacobs Solutions were worth $2,551,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fulton Bank N.A. raised its holdings in shares of Jacobs Solutions by 0.9% in the second quarter. Fulton Bank N.A. now owns 8,570 shares of the company's stock valued at $1,127,000 after purchasing an additional 74 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Jacobs Solutions by 8.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,036 shares of the company's stock valued at $136,000 after purchasing an additional 78 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in shares of Jacobs Solutions by 4.3% in the first quarter. Avidian Wealth Enterprises LLC now owns 2,111 shares of the company's stock valued at $255,000 after purchasing an additional 87 shares during the last quarter. Tlwm raised its holdings in shares of Jacobs Solutions by 1.7% in the first quarter. Tlwm now owns 6,225 shares of the company's stock valued at $753,000 after purchasing an additional 105 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its holdings in shares of Jacobs Solutions by 2.6% in the first quarter. Kestra Private Wealth Services LLC now owns 4,220 shares of the company's stock valued at $510,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 85.65% of the company's stock.

Jacobs Solutions Price Performance

J opened at $155.37 on Wednesday. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 38.75, a PEG ratio of 1.83 and a beta of 0.81. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $147.47 and a 200-day moving average price of $133.81. Jacobs Solutions Inc. has a twelve month low of $106.23 and a twelve month high of $157.18.

Jacobs Solutions (NYSE:J - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.06. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.09 billion. Jacobs Solutions had a net margin of 4.16% and a return on equity of 17.13%. The company's revenue was down 28.4% on a year-over-year basis. During the same quarter last year, the company earned $1.96 earnings per share. Jacobs Solutions has set its FY 2025 guidance at 6.000-6.100 EPS. Equities analysts expect that Jacobs Solutions Inc. will post 6.05 EPS for the current year.

Jacobs Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 22nd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 22nd. Jacobs Solutions's payout ratio is presently 31.92%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Jacobs Solutions from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. 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. UBS Group raised their price objective on shares of Jacobs Solutions from $152.00 to $166.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. KeyCorp raised their price objective on shares of Jacobs Solutions from $155.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Jacobs Solutions in a report on Saturday, September 27th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $154.57.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.