Jacobs Solutions (NYSE:J) Sets New 52-Week High – Here’s Why

Jacobs Solutions Inc. (NYSE:J) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $141.66 and last traded at $141.23, with a volume of 675371 shares trading hands. The stock had previously closed at $138.34.

Analysts Set New Price Targets

A number of analysts have recently issued reports on J shares. Robert W. Baird cut their price objective on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Raymond James upgraded Jacobs Solutions from a “market perform” rating to an “outperform” rating and set a $160.00 target price on the stock in a research note on Friday, October 4th. UBS Group raised their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Truist Financial lowered their price objective 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. Finally, Royal Bank of Canada raised their target price on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.60.

Jacobs Solutions Price Performance

The stock has a market capitalization of $18.02 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 1.39 and a beta of 0.72. The company has a fifty day simple moving average of $144.63 and a 200 day simple moving average of $143.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14.

Jacobs Solutions (NYSE:J) last announced its earnings results on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting the consensus estimate of $1.96. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The business’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 EPS. Equities research analysts forecast that Jacobs Solutions Inc. will post 7.95 EPS for the current fiscal year.

Jacobs Solutions Dividend Announcement

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

Insiders Place Their Bets

In other news, SVP William B. Allen, Jr. sold 1,451 shares of Jacobs Solutions stock in a transaction dated Friday, August 16th. The stock was 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 of the company’s stock, valued at approximately $3,911,670.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP William B. Allen, Jr. sold 1,451 shares of Jacobs Solutions stock in a transaction dated Friday, August 16th. The stock was 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 of the company’s stock, valued at approximately $3,911,670.49. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.88, for a total value of $1,028,160.00. Following the completion of the transaction, the insider now directly owns 527,138 shares of the company’s stock, valued at approximately $77,426,029.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,516 shares of company stock valued at $2,152,693. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Boston Partners increased its position in Jacobs Solutions by 27.9% in the 1st quarter. Boston Partners now owns 3,697,086 shares of the company’s stock valued at $567,436,000 after buying an additional 805,657 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Jacobs Solutions by 6.1% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,326,433 shares of the company’s stock valued at $464,736,000 after buying an additional 192,166 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Jacobs Solutions by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,212,285 shares of the company’s stock valued at $169,366,000 after buying an additional 127,605 shares in the last quarter. American Century Companies Inc. increased its position in Jacobs Solutions by 12.0% in the 2nd quarter. American Century Companies Inc. now owns 632,868 shares of the company’s stock valued at $88,418,000 after buying an additional 67,821 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its holdings in Jacobs Solutions by 5.5% during the 2nd quarter. Ceredex Value Advisors LLC now owns 601,944 shares of the company’s stock worth $84,098,000 after purchasing an additional 31,225 shares in the last quarter. 85.65% of the stock is owned by institutional investors.

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.