King Luther Capital Management Corp Cuts Position in Jacobs Solutions Inc. (NYSE:J)

King Luther Capital Management Corp reduced its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 40.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,523 shares of the company’s stock after selling 1,715 shares during the quarter. King Luther Capital Management Corp’s holdings in Jacobs Solutions were worth $330,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. EdgeRock Capital LLC acquired a new position in Jacobs Solutions during the 2nd quarter worth approximately $26,000. Bruce G. Allen Investments LLC lifted its position in shares of Jacobs Solutions by 427.5% during the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Jacobs Solutions by 44.3% in the third quarter. First Horizon Advisors Inc. now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Capital Performance Advisors LLP acquired a new stake in Jacobs Solutions during the 3rd quarter valued at $42,000. Finally, LRI Investments LLC purchased a new stake in Jacobs Solutions during the 1st quarter worth $48,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on J. StockNews.com assumed coverage on shares of Jacobs Solutions in a research report on Monday, November 18th. They issued a “buy” rating for the company. Robert W. Baird lifted their price objective on Jacobs Solutions from $147.00 to $149.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup reduced their target price on Jacobs Solutions from $166.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday. Benchmark lowered shares of Jacobs Solutions from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada reduced their price objective on shares of Jacobs Solutions from $167.00 to $152.00 and set an “outperform” rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Jacobs Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Insider Buying and Selling at Jacobs Solutions

In other news, EVP Shelette M. Gustafson sold 4,167 shares of Jacobs Solutions stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $150.14, for a total transaction of $625,633.38. Following the sale, the executive vice president now owns 24,564 shares of the company’s stock, valued at approximately $3,688,038.96. The trade was a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher M.T. Thompson sold 1,898 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $150.85, for a total value of $286,313.30. Following the completion of the transaction, the director now directly owns 42,069 shares of the company’s stock, valued at $6,346,108.65. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Jacobs Solutions Trading Up 1.4 %

Jacobs Solutions stock opened at $137.36 on Friday. Jacobs Solutions Inc. has a 1 year low of $101.64 and a 1 year high of $150.54. The firm’s 50-day moving average is $142.11 and its 200-day moving average is $142.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.14 and a current ratio of 1.20. The company has a market cap of $17.07 billion, a P/E ratio of 21.70, a PEG ratio of 2.04 and a beta of 0.71.

Jacobs Solutions (NYSE:J) last issued its earnings results on Tuesday, November 19th. The company reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.08 by ($0.71). The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $4.50 billion. Jacobs Solutions had a return on equity of 14.82% and a net margin of 5.16%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.90 EPS. On average, equities analysts expect that Jacobs Solutions Inc. will post 6.08 earnings per share for the current year.

Jacobs Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, October 25th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, October 25th. Jacobs Solutions’s dividend payout ratio is presently 18.33%.

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.