Jacobs Solutions Inc. (NYSE:J) Shares Sold by Mechanics Financial Corp

Mechanics Financial Corp decreased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 6.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,937 shares of the company’s stock after selling 350 shares during the quarter. Mechanics Financial Corp’s holdings in Jacobs Solutions were worth $641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners acquired a new position in Jacobs Solutions in the third quarter valued at approximately $106,946,000. Baupost Group LLC MA acquired a new stake in Jacobs Solutions during the third quarter valued at $66,583,000. Third Point LLC increased its holdings in Jacobs Solutions by 32.8% in the third quarter. Third Point LLC now owns 1,800,000 shares of the company’s stock valued at $245,700,000 after buying an additional 445,018 shares in the last quarter. Ceredex Value Advisors LLC raised its position in shares of Jacobs Solutions by 117.2% in the fourth quarter. Ceredex Value Advisors LLC now owns 615,289 shares of the company’s stock worth $79,865,000 after acquiring an additional 332,053 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Jacobs Solutions by 82.6% in the third quarter. Ameriprise Financial Inc. now owns 411,271 shares of the company’s stock worth $56,141,000 after acquiring an additional 186,030 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Jacobs Solutions

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now owns 555,138 shares in the company, valued at approximately $85,047,141.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Steven J. Demetriou sold 7,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $153.20, for a total transaction of $1,072,400.00. Following the transaction, the insider now directly owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Patrick Hill sold 5,486 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $149.00, for a total transaction of $817,414.00. Following the sale, the executive vice president now directly owns 57,233 shares in the company, valued at approximately $8,527,717. The disclosure for this sale can be found here. Insiders have sold a total of 15,838 shares of company stock worth $2,393,710 in the last three months. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Argus lifted their price target on Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Bank of America upped their target price on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada upped their price objective on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. KeyCorp assumed coverage on shares of Jacobs Solutions in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Citigroup boosted their price objective on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $155.25.

Jacobs Solutions Stock Performance

NYSE J traded up $0.29 during trading on Thursday, reaching $143.48. The company’s stock had a trading volume of 90,880 shares, compared to its average volume of 628,394. Jacobs Solutions Inc. has a twelve month low of $109.00 and a twelve month high of $154.50. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 1.52 and a beta of 0.74. The business’s fifty day moving average price is $147.40 and its 200-day moving average price is $138.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.37 and a current ratio of 1.37.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.46. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm earned $1.67 EPS. As a group, analysts anticipate that Jacobs Solutions Inc. will post 8.07 EPS for the current fiscal year.

Jacobs Solutions Company Profile

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