Cahaba Wealth Management Inc. Acquires 11,143 Shares of Jacobs Solutions Inc. (NYSE:J)

Cahaba Wealth Management Inc. boosted its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 445.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,643 shares of the company’s stock after acquiring an additional 11,143 shares during the period. Cahaba Wealth Management Inc.’s holdings in Jacobs Solutions were worth $1,786,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its position in Jacobs Solutions by 8.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 139,469 shares of the company’s stock valued at $21,441,000 after buying an additional 10,542 shares during the last quarter. Armstrong Henry H Associates Inc. purchased a new stake in shares of Jacobs Solutions in the first quarter valued at about $2,626,000. Russell Investments Group Ltd. lifted its position in shares of Jacobs Solutions by 305.4% during the first quarter. Russell Investments Group Ltd. now owns 182,135 shares of the company’s stock valued at $27,910,000 after purchasing an additional 137,213 shares in the last quarter. Sei Investments Co. boosted its holdings in Jacobs Solutions by 32.1% during the second quarter. Sei Investments Co. now owns 271,760 shares of the company’s stock worth $37,968,000 after purchasing an additional 66,002 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in Jacobs Solutions by 12.5% in the 1st quarter. Everett Harris & Co. CA now owns 94,266 shares of the company’s stock worth $14,492,000 after purchasing an additional 10,470 shares in the last quarter. 85.65% of the stock is owned by institutional investors.

Jacobs Solutions Stock Performance

J traded up $0.80 on Friday, hitting $143.90. The company’s stock had a trading volume of 654,565 shares, compared to its average volume of 813,529. The company’s 50 day simple moving average is $144.64 and its 200-day simple moving average is $142.99. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. Jacobs Solutions Inc. has a 12 month low of $100.59 and a 12 month high of $143.96. The firm has a market cap of $18.02 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.39 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last announced its quarterly 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 company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.82 earnings per share. Analysts forecast that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, October 25th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 annualized dividend and a yield of 0.81%. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Wall Street Analysts Forecast Growth

Several research firms have commented on J. Raymond James raised shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a research report on Friday, October 4th. Robert W. Baird reduced their price objective on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial lowered their target price on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. UBS Group increased their price target on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $159.60.

Insider Buying and Selling

In related news, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.14, for a total transaction of $625,633.38. Following the completion of the sale, the executive vice president now owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.51, for a total value of $212,586.01. Following the completion of the transaction, the senior vice president now directly owns 26,699 shares in the company, valued at approximately $3,911,670.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shelette M. Gustafson sold 4,167 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $150.14, for a total value of $625,633.38. Following the sale, the executive vice president now owns 24,564 shares in the company, valued at $3,688,038.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,516 shares of company stock valued at $2,152,693. Company insiders own 1.00% of the company’s stock.

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.