Sawgrass Asset Management LLC Has $382,000 Position in Jacobs Solutions Inc. (NYSE:J)

Sawgrass Asset Management LLC cut its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,945 shares of the company’s stock after selling 192 shares during the period. Sawgrass Asset Management LLC’s holdings in Jacobs Solutions were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in J. Allspring Global Investments Holdings LLC lifted its position in Jacobs Solutions by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,446,374 shares of the company’s stock valued at $447,339,000 after acquiring an additional 14,821 shares in the last quarter. Ninety One UK Ltd boosted its position in shares of Jacobs Solutions by 5.9% during the fourth quarter. Ninety One UK Ltd now owns 2,044,031 shares of the company’s stock worth $265,315,000 after buying an additional 114,076 shares during the period. Third Point LLC grew its holdings in shares of Jacobs Solutions by 32.8% during the third quarter. Third Point LLC now owns 1,800,000 shares of the company’s stock worth $245,700,000 after buying an additional 445,018 shares in the last quarter. Invesco Ltd. raised its position in Jacobs Solutions by 0.4% in the 3rd quarter. Invesco Ltd. now owns 1,714,552 shares of the company’s stock valued at $234,036,000 after buying an additional 7,548 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Jacobs Solutions by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 869,567 shares of the company’s stock valued at $118,696,000 after acquiring an additional 10,427 shares in the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Jacobs Solutions

In other news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $143.86, for a total value of $1,007,020.00. Following the completion of the sale, the insider now directly owns 548,138 shares in the company, valued at $78,855,132.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $143.86, for a total transaction of $1,007,020.00. Following the sale, the insider now directly owns 548,138 shares of the company’s stock, valued at approximately $78,855,132.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Shelette M. Gustafson sold 1,852 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $148.00, for a total value of $274,096.00. Following the completion of the transaction, the executive vice president now owns 28,791 shares in the company, valued at approximately $4,261,068. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,338 shares of company stock worth $3,618,695. Corporate insiders own 1.00% of the company’s stock.

Jacobs Solutions Stock Performance

J stock traded down $7.38 during mid-day trading on Tuesday, hitting $141.70. 1,386,742 shares of the company were exchanged, compared to its average volume of 646,521. Jacobs Solutions Inc. has a 1-year low of $109.00 and a 1-year high of $154.50. The business has a 50 day simple moving average of $147.34 and a 200-day simple moving average of $138.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $17.80 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 1.57 and a beta of 0.74.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.46. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.02 billion. Jacobs Solutions had a return on equity of 14.57% and a net margin of 4.20%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. On average, equities analysts forecast that Jacobs Solutions Inc. will post 8.07 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 24th will be given a $0.29 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.82%. Jacobs Solutions’s payout ratio is presently 20.71%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted 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. Truist Financial initiated coverage on Jacobs Solutions in a research report on Thursday, March 14th. They set a “hold” rating and a $154.00 price target on the stock. KeyCorp initiated coverage on Jacobs Solutions in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Argus boosted their target price on shares of Jacobs Solutions from $161.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Citigroup increased their price target on shares of Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.25.

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.