Richelieu Gestion SA Trims Stock Position in Jacobs Solutions Inc. (NYSE:J)

Richelieu Gestion SA lessened its holdings in shares of Jacobs Solutions Inc. (NYSE:J) by 21.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 14,215 shares of the company’s stock after selling 3,905 shares during the period. Jacobs Solutions makes up 2.2% of Richelieu Gestion SA’s investment portfolio, making the stock its 22nd largest position. Richelieu Gestion SA’s holdings in Jacobs Solutions were worth $2,185,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital World Investors increased its holdings in Jacobs Solutions by 0.8% in the 4th quarter. Capital World Investors now owns 6,398,776 shares of the company’s stock worth $830,561,000 after acquiring an additional 49,545 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Jacobs Solutions by 0.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,446,374 shares of the company’s stock worth $447,339,000 after purchasing an additional 14,821 shares during the period. Boston Partners boosted its stake in Jacobs Solutions by 268.4% in the 4th quarter. Boston Partners now owns 2,891,429 shares of the company’s stock worth $375,623,000 after purchasing an additional 2,106,589 shares during the period. Ninety One UK Ltd boosted its stake in Jacobs Solutions by 5.9% in the 4th quarter. Ninety One UK Ltd now owns 2,044,031 shares of the company’s stock worth $265,315,000 after purchasing an additional 114,076 shares during the period. Finally, Third Point LLC boosted its position in shares of Jacobs Solutions by 32.8% during 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 last quarter. Institutional investors own 85.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on J shares. StockNews.com downgraded Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Bank of America increased their target price on Jacobs Solutions from $145.00 to $152.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 2nd. Argus raised their price target on Jacobs Solutions from $161.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Citigroup raised their price target on Jacobs Solutions from $161.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Finally, Truist Financial cut their price target on Jacobs Solutions from $154.00 to $153.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Jacobs Solutions currently has a consensus rating of “Moderate Buy” and an average target price of $156.82.

Jacobs Solutions Stock Down 0.7 %

J traded down $1.00 on Wednesday, hitting $138.93. The company had a trading volume of 341,909 shares, compared to its average volume of 658,215. The stock has a fifty day moving average price of $140.63 and a 200-day moving average price of $140.37. Jacobs Solutions Inc. has a 12-month low of $114.88 and a 12-month high of $154.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.61 and a beta of 0.73.

Jacobs Solutions (NYSE:J) last posted its earnings results on Tuesday, May 7th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.07. Jacobs Solutions had a return on equity of 14.59% and a net margin of 3.83%. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the firm earned $1.81 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Jacobs Solutions Inc. will post 7.98 EPS for the current fiscal year.

Jacobs Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 24th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, May 23rd. Jacobs Solutions’s dividend payout ratio is currently 22.39%.

Insider Buying and Selling at Jacobs Solutions

In other Jacobs Solutions news, CFO Kevin C. Berryman sold 1,500 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $229,800.00. Following the sale, the chief financial officer now owns 233,104 shares of the company’s stock, valued at approximately $35,711,532.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $1,072,400.00. Following the sale, the insider now owns 555,138 shares of the company’s stock, valued at approximately $85,047,141.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin C. Berryman sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $153.20, for a total value of $229,800.00. Following the transaction, the chief financial officer now owns 233,104 shares in the company, valued at approximately $35,711,532.80. The disclosure for this sale can be found here. Insiders sold a total of 24,000 shares of company stock worth $3,503,195 in the last three months. 1.00% of the stock is owned by corporate insiders.

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.