Wedge Capital Management L L P NC Has $13.41 Million Stock Holdings in Jacobs Solutions Inc. (NYSE:J)

Wedge Capital Management L L P NC grew its position in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 34.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,912 shares of the company's stock after acquiring an additional 28,299 shares during the quarter. Wedge Capital Management L L P NC owned 0.09% of Jacobs Solutions worth $13,408,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Colonial Trust Co SC increased its position in shares of Jacobs Solutions by 10,250.0% during the 4th quarter. Colonial Trust Co SC now owns 207 shares of the company's stock worth $28,000 after purchasing an additional 205 shares during the last quarter. Avalon Trust Co bought a new position in shares of Jacobs Solutions in the fourth quarter valued at $33,000. Larson Financial Group LLC increased its holdings in Jacobs Solutions by 71.9% during the fourth quarter. Larson Financial Group LLC now owns 275 shares of the company's stock worth $37,000 after buying an additional 115 shares during the last quarter. Assetmark Inc. raised its position in Jacobs Solutions by 42.7% during the fourth quarter. Assetmark Inc. now owns 334 shares of the company's stock worth $45,000 after acquiring an additional 100 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its stake in Jacobs Solutions by 1,685.7% in the first quarter. Whipplewood Advisors LLC now owns 375 shares of the company's stock valued at $45,000 after acquiring an additional 354 shares during the last quarter. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Trading Up 2.2%

J opened at $127.74 on Friday. The company has a market cap of $15.35 billion, a P/E ratio of 26.34, a PEG ratio of 1.84 and a beta of 0.77. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $122.15 and its 200-day moving average is $128.72. Jacobs Solutions Inc. has a 1-year low of $106.23 and a 1-year high of $156.31.

Jacobs Solutions (NYSE:J - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.02. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3 billion. Jacobs Solutions had a net margin of 4.28% and a return on equity of 14.87%. The company's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $1.91 earnings per share. Equities research analysts predict that Jacobs Solutions Inc. will post 6.05 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, May 23rd will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.28 annualized dividend and a yield of 1.00%. Jacobs Solutions's dividend payout ratio is presently 35.26%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group decreased 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. Truist Financial increased their price objective on shares of Jacobs Solutions from $130.00 to $141.00 and gave the company a "hold" rating in a research report on Monday, May 12th. Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $152.00 to $154.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, Citigroup decreased their price target on shares of Jacobs Solutions from $161.00 to $151.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.86.

Jacobs Solutions Company Profile

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.