Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Jacobs Solutions Inc. (NYSE:J)

Sumitomo Mitsui Trust Holdings Inc. lowered its position in Jacobs Solutions Inc. (NYSE:J) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 367,697 shares of the company’s stock after selling 7,844 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Jacobs Solutions were worth $47,727,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in J. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Jacobs Solutions in the 1st quarter worth about $125,000. Panagora Asset Management Inc. grew its holdings in Jacobs Solutions by 22.6% during the 1st quarter. Panagora Asset Management Inc. now owns 3,472 shares of the company’s stock worth $478,000 after acquiring an additional 641 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Jacobs Solutions by 5.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,290 shares of the company’s stock worth $2,383,000 after acquiring an additional 933 shares in the last quarter. Cibc World Market Inc. grew its holdings in Jacobs Solutions by 4.8% during the 1st quarter. Cibc World Market Inc. now owns 14,801 shares of the company’s stock worth $2,040,000 after acquiring an additional 680 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Jacobs Solutions by 5.6% during the 1st quarter. Vontobel Holding Ltd. now owns 8,445 shares of the company’s stock worth $1,179,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Price Performance

Shares of J opened at $143.83 on Friday. The firm has a market capitalization of $18.07 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.51 and a beta of 0.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.37 and a quick ratio of 1.37. Jacobs Solutions Inc. has a 1-year low of $109.00 and a 1-year high of $154.50. The company’s fifty day moving average price is $147.62 and its 200-day moving average price is $137.61.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.46. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.02 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. On average, equities research analysts predict that Jacobs Solutions Inc. will post 8.07 EPS for the current year.

Jacobs Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.81%. This is a positive change from Jacobs Solutions’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 22nd. Jacobs Solutions’s dividend payout ratio is presently 20.71%.

Insider Buying and Selling at Jacobs Solutions

In related news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the completion of the transaction, the insider now directly owns 555,138 shares in the company, valued at $85,047,141.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Jacobs Solutions news, EVP Shelette M. Gustafson sold 1,852 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now owns 28,791 shares in the company, valued at $4,261,068. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the transaction, the insider now owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,838 shares of company stock valued at $2,393,710. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on J. Argus increased their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. KeyCorp initiated coverage on shares of Jacobs Solutions in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Truist Financial began coverage on shares of Jacobs Solutions in a research note on Thursday, March 14th. They issued a “hold” rating and a $154.00 target price for the company. Bank of America upped their price target on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada upped their price target on Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $154.08.

Jacobs Solutions 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.