Bessemer Group Inc. Raises Stake in Jacobs Solutions Inc. (NYSE:J)

Posted by Defense World Staff on Jun 11th, 2023

Bessemer Group Inc. increased its stake in Jacobs Solutions Inc. (NYSE:J – Get Rating) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,158 shares of the company’s stock after buying an additional 341 shares during the period. Bessemer Group Inc.’s holdings in Jacobs Solutions were worth $1,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in J. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Jacobs Solutions during the 1st quarter worth $125,000. Panagora Asset Management Inc. raised its holdings in Jacobs Solutions by 22.6% in the first quarter. Panagora Asset Management Inc. now owns 3,472 shares of the company’s stock worth $478,000 after purchasing an additional 641 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Jacobs Solutions by 5.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,290 shares of the company’s stock valued at $2,383,000 after buying an additional 933 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of Jacobs Solutions by 4.8% in the 1st quarter. Cibc World Market Inc. now owns 14,801 shares of the company’s stock valued at $2,040,000 after buying an additional 680 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Jacobs Solutions by 5.6% in the 1st quarter. Vontobel Holding Ltd. now owns 8,445 shares of the company’s stock valued at $1,179,000 after buying an additional 448 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Jacobs Solutions in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Sanford C. Bernstein dropped their target price on Jacobs Solutions from $165.00 to $150.00 in a research note on Wednesday, May 10th. One 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, Jacobs Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $149.00.

Insider Activity

In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $114.25, for a total value of $171,375.00. Following the sale, the chief financial officer now owns 252,132 shares in the company, valued at approximately $28,806,081. The transaction was disclosed in a legal filing with the SEC, which is available at 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 value of $171,375.00. Following the completion of the transaction, the chief financial officer now owns 252,132 shares of the company’s stock, valued at $28,806,081. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven J. Demetriou sold 6,666 shares of the stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $115.24, for a total transaction of $768,189.84. Following the sale, the insider now directly owns 607,956 shares in the company, valued at $70,060,849.44. The disclosure for this sale can be found here. Insiders sold a total of 21,498 shares of company stock valued at $2,485,877 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Jacobs Solutions Stock Performance

Shares of J stock opened at $116.23 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.53 and a quick ratio of 1.53. The business has a fifty day moving average of $114.94 and a 200 day moving average of $118.89. The firm has a market capitalization of $14.74 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.57 and a beta of 0.84. Jacobs Solutions Inc. has a 1 year low of $106.78 and a 1 year high of $138.05.

Jacobs Solutions (NYSE:J – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported $1.81 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 firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Jacobs Solutions Inc. will post 7.35 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, May 26th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, May 25th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.89%. Jacobs Solutions’s payout ratio is currently 17.25%.

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.