Jacobs Solutions (NYSE:J) Sets New 52-Week High – Here’s Why

Jacobs Solutions Inc. (NYSE:J) shares reached a new 52-week high on Wednesday . The company traded as high as $141.66 and last traded at $141.23, with a volume of 675371 shares. The stock had previously closed at $138.34.

Analysts Set New Price Targets

A number of brokerages have recently commented on J. Truist Financial lowered their price objective on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. UBS Group increased their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com initiated coverage on Jacobs Solutions in a report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Royal Bank of Canada raised their target price on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird lowered their target price on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.60.

Jacobs Solutions Price Performance

The company has a 50-day moving average of $144.63 and a 200 day moving average of $143.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $18.02 billion, a P/E ratio of 27.65, a P/E/G ratio of 1.39 and a beta of 0.72.

Jacobs Solutions (NYSE:J) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.96 EPS for the quarter, hitting analysts’ consensus estimates of $1.96. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a return on equity of 14.76% and a net margin of 3.72%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 earnings per share. On average, sell-side analysts anticipate that Jacobs Solutions Inc. will post 7.95 EPS for the current year.

Jacobs Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, October 25th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.81%. Jacobs Solutions’s payout ratio is currently 22.39%.

Insider Transactions at Jacobs Solutions

In related news, EVP Shelette M. Gustafson sold 4,167 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the sale, the executive vice president now owns 24,564 shares in the company, valued at approximately $3,688,038.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.88, for a total value of $1,028,160.00. Following the completion of the sale, the insider now directly owns 527,138 shares in the company, valued at $77,426,029.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Shelette M. Gustafson sold 4,167 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $150.14, for a total value of $625,633.38. Following the completion of the sale, the executive vice president now owns 24,564 shares of the company’s stock, valued at $3,688,038.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,516 shares of company stock worth $2,152,693 over the last 90 days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new position in Jacobs Solutions during the second quarter valued at approximately $26,000. Bruce G. Allen Investments LLC boosted its position in Jacobs Solutions by 427.5% during the second quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock valued at $29,000 after purchasing an additional 171 shares during the last quarter. LRI Investments LLC acquired a new position in Jacobs Solutions during the first quarter valued at approximately $48,000. Central Pacific Bank Trust Division acquired a new position in Jacobs Solutions during the first quarter valued at approximately $48,000. Finally, GAMMA Investing LLC boosted its position in Jacobs Solutions by 55.8% during the third quarter. GAMMA Investing LLC now owns 405 shares of the company’s stock valued at $53,000 after purchasing an additional 145 shares during the last quarter. 85.65% of the stock is owned by institutional investors and hedge funds.

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.