Cibc World Market Inc. Trims Stake in Jacobs Solutions Inc. (NYSE:J)

Cibc World Market Inc. trimmed its holdings in shares of Jacobs Solutions Inc. (NYSE:JGet Rating) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,159 shares of the company’s stock after selling 642 shares during the quarter. Cibc World Market Inc.’s holdings in Jacobs Solutions were worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in J. Kestra Advisory Services LLC lifted its stake in Jacobs Solutions by 11.6% during the first quarter. Kestra Advisory Services LLC now owns 2,697 shares of the company’s stock worth $372,000 after purchasing an additional 281 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Jacobs Solutions by 50.6% during the first quarter. Steward Partners Investment Advisory LLC now owns 3,073 shares of the company’s stock worth $423,000 after purchasing an additional 1,032 shares during the last quarter. DAVENPORT & Co LLC lifted its stake in Jacobs Solutions by 4.0% during the first quarter. DAVENPORT & Co LLC now owns 4,320 shares of the company’s stock worth $595,000 after purchasing an additional 167 shares during the last quarter. National Asset Management Inc. lifted its stake in Jacobs Solutions by 21.9% during the first quarter. National Asset Management Inc. now owns 2,450 shares of the company’s stock worth $339,000 after purchasing an additional 440 shares during the last quarter. Finally, FDx Advisors Inc. bought a new stake in Jacobs Solutions during the first quarter worth about $240,000. Institutional investors own 86.73% of the company’s stock.

Jacobs Solutions Trading Up 1.4 %

J opened at $126.04 on Friday. The business has a 50 day simple moving average of $116.14 and a two-hundred day simple moving average of $124.88. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 1.51 and a beta of 0.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.43 and a quick ratio of 1.43. Jacobs Solutions Inc. has a one year low of $106.78 and a one year high of $150.32.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, September 30th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.73%. Jacobs Solutions’s dividend payout ratio (DPR) is 25.84%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on J shares. Citigroup lowered their target price on Jacobs Solutions from $155.00 to $151.00 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. StockNews.com started coverage on Jacobs Solutions in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Credit Suisse Group lowered their target price on Jacobs Solutions from $159.00 to $154.00 and set an “outperform” rating for the company in a research note on Tuesday, August 2nd. Finally, Royal Bank of Canada lowered their target price on Jacobs Solutions from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.67.

Insiders Place Their Bets

In other Jacobs Solutions news, CEO Steven J. Demetriou sold 51,130 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $125.10, for a total transaction of $6,396,363.00. Following the transaction, the chief executive officer now owns 631,447 shares in the company, valued at approximately $78,994,019.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Jacobs Solutions Profile

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Jacobs Solutions Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, rest of Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. It provides cybersecurity, data analytics, systems and software application integration and consulting, enterprise and mission IT, engineering and design, nuclear, enterprise level operations and maintenance, artificial intelligence and automation, software development, digitally driven consulting, planning and architecture, program management, and other technical consulting solutions.

See Also

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Institutional Ownership by Quarter for Jacobs Solutions (NYSE:J)

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