Jacobs Solutions (NYSE:J) Sets New 12-Month High – Here’s What Happened

Jacobs Solutions Inc. (NYSE:J)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $149.29 and last traded at $148.89, with a volume of 65030 shares traded. The stock had previously closed at $147.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Royal Bank of Canada upped their price objective on Jacobs Solutions from $161.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. UBS Group increased their price objective on Jacobs Solutions from $161.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Truist Financial dropped their price objective on Jacobs Solutions from $158.00 to $139.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. Citigroup increased their target price on Jacobs Solutions from $138.60 to $166.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird dropped their target price on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $159.30.

Jacobs Solutions Stock Performance

The stock’s 50 day simple moving average is $142.95 and its two-hundred day simple moving average is $142.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.31. The company has a market cap of $17.47 billion, a PE ratio of 27.79, a P/E/G ratio of 1.55 and a beta of 0.71.

Jacobs Solutions Dividend Announcement

The business 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 $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, October 25th. Jacobs Solutions’s payout ratio is currently 22.92%.

Insider Transactions at Jacobs Solutions

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

Institutional Investors Weigh In On Jacobs Solutions

Hedge funds have recently made changes to their positions in the company. EdgeRock Capital LLC bought a new position in Jacobs Solutions in the second quarter valued at approximately $26,000. Bruce G. Allen Investments LLC increased its holdings in shares of Jacobs Solutions by 427.5% in 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. First Horizon Advisors Inc. boosted its position 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 acquiring an additional 74 shares during the period. Capital Performance Advisors LLP bought a new stake in shares of Jacobs Solutions in the third quarter valued at about $42,000. Finally, True Wealth Design LLC bought a new stake in Jacobs Solutions during the third quarter worth about $44,000. Institutional investors and hedge funds own 85.65% of the company’s stock.

About Jacobs Solutions

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.