Jacobs Solutions Inc. (NYSE:J) Shares Acquired by American International Group Inc.

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. boosted its stake in Jacobs Solutions Inc. (NYSE:J – Get Rating) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,310 shares of the company’s stock after buying an additional 3,945 shares during the period. American International Group Inc.’s holdings in Jacobs Solutions were worth $4,720,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Huntington National Bank grew its holdings in Jacobs Solutions by 6.1% in the 4th quarter. Huntington National Bank now owns 1,503 shares of the company’s stock worth $180,000 after buying an additional 87 shares in the last quarter. Laffer Tengler Investments grew its stake in shares of Jacobs Solutions by 1.1% in the third quarter. Laffer Tengler Investments now owns 8,976 shares of the company’s stock worth $974,000 after purchasing an additional 94 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Jacobs Solutions by 1.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,967 shares of the company’s stock valued at $1,197,000 after purchasing an additional 94 shares during the period. Mutual of America Capital Management LLC raised its stake in shares of Jacobs Solutions by 0.3% during the third quarter. Mutual of America Capital Management LLC now owns 37,503 shares of the company’s stock valued at $4,069,000 after purchasing an additional 97 shares in the last quarter. Finally, Clarius Group LLC lifted its holdings in Jacobs Solutions by 3.8% in the fourth quarter. Clarius Group LLC now owns 2,657 shares of the company’s stock worth $319,000 after purchasing an additional 97 shares during the period. 85.96% of the stock is owned by institutional investors and hedge funds.

Jacobs Solutions Trading Up 3.8 %

Jacobs Solutions stock opened at $114.99 on Friday. The firm has a market cap of $14.59 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.54 and a beta of 0.84. Jacobs Solutions Inc. has a 1 year low of $106.78 and a 1 year high of $139.29. The firm’s 50 day moving average price is $114.90 and its two-hundred day moving average price is $119.18. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.53 and a current ratio of 1.53.

Jacobs Solutions (NYSE:J – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.03. Jacobs Solutions had a return on equity of 14.78% and a net margin of 4.96%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. Jacobs Solutions’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, research analysts predict that Jacobs Solutions Inc. will post 7.35 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, May 26th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, May 25th. Jacobs Solutions’s payout ratio is 17.25%.

Insider Transactions at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 6,666 shares of the stock in a transaction on 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 sale, the insider now owns 614,622 shares in the company, valued at $71,769,410.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of Jacobs Solutions stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $114.25, for a total transaction of $171,375.00. Following the completion of the sale, the chief financial officer now owns 252,132 shares of the company’s stock, valued at approximately $28,806,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven J. Demetriou sold 6,666 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $116.77, for a total transaction of $778,388.82. Following the transaction, the insider now owns 614,622 shares in the company, valued at $71,769,410.94. The disclosure for this sale can be found here. Insiders have sold a total of 21,498 shares of company stock valued at $2,485,877 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Jacobs Solutions Company Profile

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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.