Victory Capital Management Inc. Sells 14,909 Shares of Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on May 27th, 2023

Victory Capital Management Inc. trimmed its position in shares of Jacobs Solutions Inc. (NYSE:J – Get Rating) by 20.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,622 shares of the company’s stock after selling 14,909 shares during the quarter. Victory Capital Management Inc.’s holdings in Jacobs Solutions were worth $6,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank raised its holdings in shares of Jacobs Solutions by 6.1% in the fourth quarter. Huntington National Bank now owns 1,503 shares of the company’s stock valued at $180,000 after purchasing an additional 87 shares during the last quarter. Laffer Tengler Investments increased its stake in Jacobs Solutions by 1.1% in the 3rd quarter. Laffer Tengler Investments now owns 8,976 shares of the company’s stock valued at $974,000 after buying an additional 94 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Jacobs Solutions by 1.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,967 shares of the company’s stock worth $1,197,000 after buying an additional 94 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of Jacobs Solutions by 0.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 37,503 shares of the company’s stock worth $4,069,000 after buying an additional 97 shares during the last quarter. Finally, Clarius Group LLC grew its holdings in shares of Jacobs Solutions by 3.8% in the 4th quarter. Clarius Group LLC now owns 2,657 shares of the company’s stock valued at $319,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $115.24, for a total transaction of $768,189.84. Following the completion of the sale, the insider now directly owns 607,956 shares of the company’s stock, valued at approximately $70,060,849.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 19,998 shares of company stock worth $2,314,502. 1.00% of the stock is owned by corporate insiders.

Jacobs Solutions Stock Performance

NYSE:J opened at $114.01 on Friday. The stock’s 50-day moving average is $114.96 and its 200-day moving average is $119.56. Jacobs Solutions Inc. has a 1-year low of $106.78 and a 1-year high of $140.90. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $14.46 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84.

Jacobs Solutions (NYSE:J – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.78 by $0.03. Jacobs Solutions had a return on equity of 14.78% and a net margin of 4.96%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same period in the prior year, the business posted $1.72 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that Jacobs Solutions Inc. will post 7.37 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 26th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, May 25th. Jacobs Solutions’s payout ratio is currently 17.25%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on J. Sanford C. Bernstein lowered their price target on Jacobs Solutions from $165.00 to $150.00 in a research report on Wednesday, May 10th. Credit Suisse Group dropped their price target on shares of Jacobs Solutions from $161.00 to $155.00 in a research report on Wednesday, February 8th. StockNews.com began coverage on shares of Jacobs Solutions in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Jacobs Solutions from $150.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.00.

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.