Paralel Advisors LLC Acquires New Stake in Jacobs Solutions Inc. (NYSE:J)

Paralel Advisors LLC acquired a new position in shares of Jacobs Solutions Inc. (NYSE:J) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,849 shares of the company’s stock, valued at approximately $2,075,000.

Several other hedge funds also recently made changes to their positions in J. Victory Capital Management Inc. lifted its position in Jacobs Solutions by 14.5% in the fourth quarter. Victory Capital Management Inc. now owns 67,905 shares of the company’s stock valued at $8,814,000 after purchasing an additional 8,611 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Jacobs Solutions in the 4th quarter valued at approximately $223,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Jacobs Solutions by 7.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,021 shares of the company’s stock valued at $133,000 after buying an additional 75 shares in the last quarter. National Bank of Canada FI grew its holdings in Jacobs Solutions by 0.4% during the fourth quarter. National Bank of Canada FI now owns 27,539 shares of the company’s stock worth $3,525,000 after acquiring an additional 120 shares during the period. Finally, Private Advisor Group LLC raised its position in Jacobs Solutions by 7.9% in the fourth quarter. Private Advisor Group LLC now owns 11,488 shares of the company’s stock worth $1,491,000 after acquiring an additional 838 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on J. Truist Financial restated a “hold” rating and set a $158.00 target price (up from $153.00) on shares of Jacobs Solutions in a research report on Wednesday, August 7th. Robert W. Baird lowered their target price on shares of Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. StockNews.com cut shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Royal Bank of Canada boosted their price target on Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, UBS Group raised their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $160.40.

Insiders Place Their Bets

In related news, EVP Shelette M. Gustafson sold 4,167 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the transaction, the executive vice president now directly owns 24,564 shares in the company, valued at $3,688,038.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Shelette M. Gustafson sold 4,167 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the sale, the executive vice president now directly owns 24,564 shares in the company, valued at $3,688,038.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $139.94, for a total transaction of $979,580.00. Following the transaction, the insider now directly owns 534,138 shares of the company’s stock, valued at approximately $74,747,271.72. The disclosure for this sale can be found here. In the last three months, insiders sold 21,516 shares of company stock valued at $3,132,273. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Price Performance

Jacobs Solutions stock traded down $2.03 during mid-day trading on Friday, hitting $141.91. 593,589 shares of the company were exchanged, compared to its average volume of 664,558. Jacobs Solutions Inc. has a 12-month low of $120.71 and a 12-month high of $154.50. The company has a market capitalization of $17.77 billion, a P/E ratio of 27.40, a PEG ratio of 1.73 and a beta of 0.72. The business’s 50 day simple moving average is $144.89 and its two-hundred day simple moving average is $144.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 1.14.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share for the quarter, meeting the consensus estimate of $1.96. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.82 EPS. Analysts forecast that Jacobs Solutions Inc. will post 7.97 earnings per share for the current fiscal year.

Jacobs Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, July 26th were given a dividend of $0.29 per share. The ex-dividend date was Friday, July 26th. This represents a $1.16 dividend on an annualized basis and a yield of 0.82%. Jacobs Solutions’s dividend payout ratio (DPR) is currently 22.39%.

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.