Jacobs Solutions (NYSE:J) Sets New 12-Month High – Here’s What Happened

Jacobs Solutions Inc. (NYSE:J)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $149.29 and last traded at $148.89, with a volume of 65030 shares changing hands. The stock had previously closed at $147.11.

Analyst Ratings Changes

A number of research firms have weighed in on J. Truist Financial decreased their target price on shares of Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating for the company in a research report on Wednesday, October 9th. 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 research report on Wednesday, August 7th. StockNews.com lowered shares of Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 31st. 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 report on Friday, October 4th. Finally, UBS Group increased their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.30.

Jacobs Solutions Trading Down 5.8 %

The firm has a market capitalization of $17.47 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.55 and a beta of 0.71. The stock’s 50-day moving average price is $142.95 and its 200 day moving average price is $142.68. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.82%. Jacobs Solutions’s dividend payout ratio is presently 22.92%.

Insider Buying and Selling at Jacobs Solutions

In other news, EVP Shelette M. Gustafson sold 4,167 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were 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 $3,688,038.96. The trade was a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher M.T. Thompson sold 1,898 shares of the business’s stock in a transaction dated 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 owns 42,069 shares in the company, valued at $6,346,108.65. The trade was 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 owned by insiders.

Hedge Funds Weigh In On Jacobs Solutions

Institutional investors and hedge funds have recently bought and sold shares of the business. EdgeRock Capital LLC purchased a new stake in shares of Jacobs Solutions in the 2nd quarter valued at approximately $26,000. Bruce G. Allen Investments LLC increased its position 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 purchasing an additional 171 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Jacobs Solutions by 44.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Jacobs Solutions in the 3rd quarter valued at approximately $42,000. Finally, True Wealth Design LLC acquired a new position in shares of Jacobs Solutions in the 3rd quarter valued at $44,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

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.