Sessa Capital IM L.P. Acquires New Stake in Jacobs Solutions Inc. (NYSE:J)

Sessa Capital IM L.P. bought a new stake in shares of Jacobs Solutions Inc. (NYSE:J) in the third quarter, Holdings Channel reports. The firm bought 352,693 shares of the company’s stock, valued at approximately $46,168,000. Jacobs Solutions comprises 1.7% of Sessa Capital IM L.P.’s investment portfolio, making the stock its 17th largest position.

Other institutional investors also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in Jacobs Solutions in the second quarter valued at $26,000. Bruce G. Allen Investments LLC boosted its stake in shares of Jacobs Solutions by 427.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock valued at $29,000 after buying an additional 171 shares during the period. First Horizon Advisors Inc. grew its position in shares of Jacobs Solutions by 44.3% during the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Jacobs Solutions in the third quarter valued at approximately $42,000. Finally, LRI Investments LLC acquired a new position in Jacobs Solutions during the 1st quarter worth approximately $48,000. 85.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Raymond James upgraded shares of Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a research note on Friday, October 4th. 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 note on Wednesday, August 14th. Citigroup reduced their price objective on shares of Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial dropped their target price on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Finally, Robert W. Baird boosted their price target on shares of Jacobs Solutions from $147.00 to $149.00 and gave the company an “outperform” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.89.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 4,167 shares of the 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 owns 24,564 shares in the company, valued at approximately $3,688,038.96. This represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher M.T. Thompson sold 1,898 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total transaction of $286,313.30. Following the transaction, the director now directly owns 42,069 shares in the company, valued at approximately $6,346,108.65. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Jacobs Solutions Trading Up 2.5 %

NYSE J opened at $135.82 on Friday. Jacobs Solutions Inc. has a one year low of $100.59 and a one year high of $150.54. The firm has a market cap of $16.88 billion, a PE ratio of 21.46, a P/E/G ratio of 2.04 and a beta of 0.71. The firm’s fifty day moving average is $142.25 and its two-hundred day moving average is $142.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.14 and a current ratio of 1.20.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, November 19th. The company reported $1.37 EPS for the quarter, missing the consensus estimate of $2.08 by ($0.71). Jacobs Solutions had a net margin of 5.16% and a return on equity of 14.82%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. Analysts expect that Jacobs Solutions Inc. will post 6 earnings per share 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 given a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a yield of 0.85%. Jacobs Solutions’s dividend payout ratio (DPR) is 18.33%.

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.