Allspring Global Investments Holdings LLC Has $447.34 Million Stake in Jacobs Solutions Inc. (NYSE:J)

Allspring Global Investments Holdings LLC increased its stake in shares of Jacobs Solutions Inc. (NYSE:J) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,446,374 shares of the company’s stock after buying an additional 14,821 shares during the quarter. Jacobs Solutions accounts for 0.7% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 15th largest holding. Allspring Global Investments Holdings LLC owned 2.73% of Jacobs Solutions worth $447,339,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp raised its position in Jacobs Solutions by 1,162.8% in the first quarter. Mackenzie Financial Corp now owns 866,765 shares of the company’s stock worth $119,449,000 after acquiring an additional 798,125 shares during the period. Boston Partners purchased a new position in shares of Jacobs Solutions in the third quarter valued at $106,946,000. Select Equity Group L.P. raised its stake in shares of Jacobs Solutions by 12.6% during the 1st quarter. Select Equity Group L.P. now owns 4,717,432 shares of the company’s stock valued at $554,345,000 after purchasing an additional 529,557 shares during the period. Baupost Group LLC MA purchased a new stake in Jacobs Solutions during the 3rd quarter worth about $66,583,000. Finally, Third Point LLC boosted its stake in Jacobs Solutions by 32.8% in the 3rd quarter. Third Point LLC now owns 1,800,000 shares of the company’s stock worth $245,700,000 after purchasing an additional 445,018 shares during the period. Hedge funds and other institutional investors own 85.65% of the company’s stock.

Jacobs Solutions Stock Down 1.2 %

J traded down $1.84 during midday trading on Monday, reaching $146.08. The company’s stock had a trading volume of 604,045 shares, compared to its average volume of 685,013. Jacobs Solutions Inc. has a 1 year low of $109.00 and a 1 year high of $154.50. The stock’s 50-day moving average is $146.59 and its 200-day moving average is $136.89. The firm has a market capitalization of $18.35 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 1.57 and a beta of 0.73. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.42.

Jacobs Solutions (NYSE:J) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.46. The firm 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 company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $1.67 earnings per share. As a group, research analysts expect that Jacobs Solutions Inc. will post 8.07 EPS for the current year.

Jacobs Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, February 23rd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Jacobs Solutions’s previous quarterly dividend of $0.26. Jacobs Solutions’s payout ratio is 20.71%.

Insider Buying and Selling at Jacobs Solutions

In other news, EVP Shelette M. Gustafson sold 1,852 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the transaction, the executive vice president now owns 28,791 shares in the company, valued at approximately $4,261,068. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $153.20, for a total value of $1,072,400.00. Following the completion of the sale, the insider now directly owns 555,138 shares of the company’s stock, valued at $85,047,141.60. The sale was disclosed in a 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 dated Friday, February 16th. The shares were sold at an average price of $148.00, for a total value of $274,096.00. Following the sale, the executive vice president now directly owns 28,791 shares in the company, valued at $4,261,068. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,838 shares of company stock worth $2,393,710. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on J. Argus raised their price target on shares of Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, March 14th. KeyCorp initiated coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Truist Financial began coverage on shares of Jacobs Solutions in a research report on Thursday, March 14th. They issued a “hold” rating and a $154.00 price objective on the stock. Bank of America lifted their target price on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a “neutral” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price target on shares of Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.08.

Jacobs Solutions 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.