Evermay Wealth Management LLC Sells 986 Shares of Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on Mar 27th, 2023

Evermay Wealth Management LLC lowered its position in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,561 shares of the company’s stock after selling 986 shares during the period. Evermay Wealth Management LLC’s holdings in Jacobs Solutions were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in J. Householder Group Estate & Retirement Specialist LLC bought a new position in Jacobs Solutions during the 3rd quarter worth $26,000. Private Trust Co. NA bought a new position in Jacobs Solutions during the 4th quarter worth $33,000. Asset Dedication LLC bought a new position in Jacobs Solutions during the 3rd quarter worth $36,000. Neo Ivy Capital Management bought a new position in Jacobs Solutions during the 2nd quarter worth $53,000. Finally, Cambridge Trust Co. bought a new position in Jacobs Solutions during the 4th quarter worth $54,000. Institutional investors own 85.96% of the company’s stock.

Insiders Place Their Bets

In other news, insider Steven J. Demetriou sold 6,666 shares of Jacobs Solutions stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $116.77, for a total value of $778,388.82. Following the completion of the transaction, the insider now directly owns 614,622 shares of the company’s stock, valued at approximately $71,769,410.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Christopher M.T. Thompson sold 3,500 shares of Jacobs Solutions stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $119.64, for a total value of $418,740.00. Following the completion of the transaction, the director now directly owns 34,682 shares of the company’s stock, valued at approximately $4,149,354.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven J. Demetriou sold 6,666 shares of Jacobs Solutions stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $116.77, for a total value of $778,388.82. Following the completion of the transaction, the insider now directly owns 614,622 shares of the company’s stock, valued at $71,769,410.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,498 shares of company stock valued at $2,849,564. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on J. StockNews.com began coverage on Jacobs Solutions in a report on Thursday, March 16th. They issued a “buy” rating on the stock. Robert W. Baird raised Jacobs Solutions from a “neutral” rating to an “outperform” rating and raised their target price for the company from $136.00 to $150.00 in a report on Friday, January 6th. Royal Bank of Canada raised their target price on Jacobs Solutions from $150.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Credit Suisse Group reduced their target price on Jacobs Solutions from $161.00 to $155.00 in a report on Wednesday, February 8th. Finally, Bank of America downgraded Jacobs Solutions from a “buy” rating to a “neutral” rating and set a $137.00 target price on the stock. in a report on Friday, January 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $148.80.

Jacobs Solutions Trading Up 0.6 %

NYSE J opened at $112.34 on Monday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.55. Jacobs Solutions Inc. has a twelve month low of $106.78 and a twelve month high of $150.32. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The business’s fifty day moving average is $120.31 and its 200 day moving average is $119.56.

Jacobs Solutions (NYSE:J – Get Rating) last announced its earnings results on Tuesday, February 7th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.61 by $0.06. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.66 billion. Jacobs Solutions had a return on equity of 14.84% and a net margin of 4.21%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 EPS. As a group, sell-side analysts expect that Jacobs Solutions Inc. will post 7.39 EPS for the current fiscal year.

Jacobs Solutions declared that its board has authorized a stock buyback program on Wednesday, January 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, February 24th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, February 23rd. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 0.93%. Jacobs Solutions’s payout ratio is presently 20.76%.

About Jacobs Solutions

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Jacobs Solutions, Inc is a holding company, which engages in the designing and deployment of technology-centric solutions. It operates through the following business segments: Critical Mission Solutions, People and Places Solutions, and PA Consulting. The Critical Mission Solutions segment offer broad sectors, including U.S.