Wedge Capital Management L L P NC Sells 6,397 Shares of Jacobs Solutions Inc. (NYSE:J)

Wedge Capital Management L L P NC trimmed its holdings in shares of Jacobs Solutions Inc. (NYSE:J - Free Report) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,171 shares of the company's stock after selling 6,397 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of Jacobs Solutions worth $11,704,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of J. Mirabella Financial Services LLP bought a new stake in Jacobs Solutions in the 3rd quarter valued at about $202,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of Jacobs Solutions in the 4th quarter worth $5,192,000. Wellington Management Group LLP grew its position in Jacobs Solutions by 62.7% in the 3rd quarter. Wellington Management Group LLP now owns 61,010 shares of the company's stock valued at $8,328,000 after purchasing an additional 23,509 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Jacobs Solutions by 9.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 691,955 shares of the company's stock valued at $94,452,000 after purchasing an additional 62,259 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Jacobs Solutions by 14.7% during the third quarter. Raymond James & Associates now owns 80,498 shares of the company's stock worth $10,988,000 after buying an additional 10,296 shares during the last quarter. Institutional investors and hedge funds own 85.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on J shares. KeyCorp initiated coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They set a "sector weight" rating on the stock. Royal Bank of Canada increased their target price on shares of Jacobs Solutions from $151.00 to $161.00 and gave the company an "outperform" rating in a report on Wednesday, February 7th. Argus boosted their price target on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday, March 14th. Citigroup increased their price objective on shares of Jacobs Solutions from $161.00 to $169.00 and gave the company a "buy" rating in a research note on Monday. Finally, Truist Financial began coverage on Jacobs Solutions in a research note on Thursday, March 14th. They issued a "hold" rating and a $154.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $155.25.

Insider Activity at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 7,000 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the transaction, the insider now directly owns 555,138 shares of the company's stock, valued at $85,047,141.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $1,072,400.00. Following the sale, the insider now directly owns 555,138 shares of the company's stock, valued at $85,047,141.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Patrick Hill sold 5,486 shares of the business's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $149.00, for a total transaction of $817,414.00. Following the transaction, the executive vice president now directly owns 57,233 shares of the company's stock, valued at approximately $8,527,717. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,838 shares of company stock worth $2,393,710. Corporate insiders own 1.00% of the company's stock.

Jacobs Solutions Stock Performance

NYSE:J traded up $0.54 during trading hours on Tuesday, reaching $144.65. The stock had a trading volume of 345,263 shares, compared to its average volume of 650,692. The stock has a market cap of $18.18 billion, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The stock has a 50 day simple moving average of $147.62 and a 200 day simple moving average of $137.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37. Jacobs Solutions Inc. has a 12-month low of $109.00 and a 12-month high of $154.50.

Jacobs Solutions (NYSE:J - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.46. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.02 billion. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS. On average, research analysts forecast that Jacobs Solutions Inc. will post 8.07 EPS for the current fiscal year.

Jacobs Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, February 23rd were issued a $0.29 dividend. The ex-dividend date was Thursday, February 22nd. This is an increase from Jacobs Solutions's previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 0.80%. Jacobs Solutions's dividend payout ratio (DPR) is 20.71%.

Jacobs Solutions 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.