2,331 Shares in Jacobs Solutions Inc. (NYSE:J) Bought by Van ECK Associates Corp

Posted by Defense World Staff on Aug 8th, 2023

Van ECK Associates Corp acquired a new stake in Jacobs Solutions Inc. (NYSE:J – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,331 shares of the company’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in J. Mackenzie Financial Corp increased its stake in Jacobs Solutions by 1,162.8% in the first quarter. Mackenzie Financial Corp now owns 866,765 shares of the company’s stock valued at $119,449,000 after purchasing an additional 798,125 shares during the period. Invesco Ltd. raised its stake in shares of Jacobs Solutions by 44.6% during the first quarter. Invesco Ltd. now owns 1,291,182 shares of the company’s stock worth $177,937,000 after purchasing an additional 398,033 shares during the last quarter. Capital International Investors lifted its stake in shares of Jacobs Solutions by 8.1% in the 1st quarter. Capital International Investors now owns 4,049,450 shares of the company’s stock worth $558,055,000 after acquiring an additional 304,996 shares during the period. CI Private Wealth LLC acquired a new stake in Jacobs Solutions in the fourth quarter valued at about $36,140,000. Finally, Mariner LLC lifted its holdings in shares of Jacobs Solutions by 1,980.4% in the 1st quarter. Mariner LLC now owns 277,441 shares of the company’s stock valued at $38,235,000 after buying an additional 264,105 shares during the period. Institutional investors and hedge funds own 85.11% of the company’s stock.

Jacobs Solutions Price Performance

Jacobs Solutions stock opened at $128.49 on Tuesday. The firm has a fifty day moving average of $119.78 and a 200-day moving average of $118.41. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.53. Jacobs Solutions Inc. has a 52-week low of $106.78 and a 52-week high of $136.27. The firm has a market capitalization of $16.30 billion, a P/E ratio of 21.32, a PEG ratio of 1.71 and a beta of 0.84.

Jacobs Solutions (NYSE:J – Get Free Report) last announced its earnings results on Tuesday, May 9th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.03. Jacobs Solutions had a net margin of 4.96% and a return on equity of 14.78%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts predict that Jacobs Solutions Inc. will post 7.35 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, July 28th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Thursday, July 27th. Jacobs Solutions’s payout ratio is currently 17.25%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on J. StockNews.com assumed coverage on Jacobs Solutions in a research note on Thursday, May 18th. They set a “buy” rating for the company. Sanford C. Bernstein reduced their price target 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 four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.60.

View Our Latest Analysis on J

Insider Activity at Jacobs Solutions

In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $114.25, for a total value of $171,375.00. Following the transaction, the chief financial officer now owns 252,132 shares of the company’s stock, valued at $28,806,081. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Jacobs Solutions news, insider Steven J. Demetriou sold 6,666 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $115.10, for a total transaction of $767,256.60. Following the transaction, the insider now owns 594,624 shares of the company’s stock, valued at approximately $68,441,222.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin C. Berryman sold 1,500 shares of the business’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 directly owns 252,132 shares in the company, valued at approximately $28,806,081. The disclosure for this sale can be found here. Insiders sold a total of 22,998 shares of company stock valued at $2,714,356 over the last three months. 1.00% of the stock is owned by insiders.

About Jacobs Solutions

(Free Report)

Jacobs Solutions Inc provides consulting, technical, scientific, and project delivery services for the government and private sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, South America, Mexico, the Middle East, and Africa. It operates through three segments: Critical Mission Solutions, People & Places Solutions, and PA Consulting.