Sawgrass Asset Management LLC Sells 192 Shares of Jacobs Solutions Inc. (NYSE:J)

Sawgrass Asset Management LLC trimmed its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 6.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners bought a new stake in shares of Jacobs Solutions in the third quarter valued at $106,946,000. Baupost Group LLC MA bought a new stake in Jacobs Solutions in the 3rd quarter valued at about $66,583,000. Third Point LLC raised 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 valued at $245,700,000 after acquiring an additional 445,018 shares during the period. Ceredex Value Advisors LLC boosted its position in Jacobs Solutions by 117.2% during the fourth quarter. Ceredex Value Advisors LLC now owns 615,289 shares of the company’s stock worth $79,865,000 after purchasing an additional 332,053 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Jacobs Solutions by 82.6% during the third quarter. Ameriprise Financial Inc. now owns 411,271 shares of the company’s stock worth $56,141,000 after purchasing an additional 186,030 shares during the period. 85.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on J shares. Bank of America upped their price target on shares of Jacobs Solutions from $145.00 to $152.00 and gave the company a “neutral” rating in a research note on Tuesday, April 2nd. Citigroup increased their target price on Jacobs Solutions from $161.00 to $169.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. KeyCorp began coverage on Jacobs Solutions in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Royal Bank of Canada increased their price objective on Jacobs Solutions from $151.00 to $161.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Truist Financial initiated coverage on Jacobs Solutions in a research note on Thursday, March 14th. They issued a “hold” rating and a $154.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.25.

Jacobs Solutions Price Performance

Shares of J traded down $7.38 during trading hours on Tuesday, reaching $141.70. 1,386,742 shares of the company’s stock traded hands, compared to its average volume of 646,521. The stock has a market cap 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. 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 firm’s 50 day simple moving average is $147.34 and its 200-day simple moving average is $138.31. Jacobs Solutions Inc. has a 12 month low of $109.00 and a 12 month high of $154.50.

Jacobs Solutions (NYSE:J) last released its quarterly earnings results on Tuesday, February 6th. The company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.46. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Jacobs Solutions had a net margin of 4.20% and a return on equity of 14.57%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.67 EPS. Equities analysts expect that Jacobs Solutions Inc. will post 8.07 EPS for the current year.

Jacobs Solutions Dividend Announcement

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

Insider Buying and Selling

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

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.