Malaga Cove Capital LLC Cuts Stock Position in Jacobs Solutions Inc. (NYSE:J)

Malaga Cove Capital LLC trimmed its holdings in Jacobs Solutions Inc. (NYSE:J) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 35,155 shares of the company’s stock after selling 141 shares during the quarter. Jacobs Solutions makes up 2.0% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 6th largest position. Malaga Cove Capital LLC’s holdings in Jacobs Solutions were worth $4,912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. EdgeRock Capital LLC acquired a new position in Jacobs Solutions during the second quarter worth $26,000. Bruce G. Allen Investments LLC boosted its stake in shares of Jacobs Solutions by 427.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 211 shares of the company’s stock worth $29,000 after acquiring an additional 171 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Jacobs Solutions during the 4th quarter valued at about $30,000. Union Savings Bank raised its stake in shares of Jacobs Solutions by 78.1% in the 4th quarter. Union Savings Bank now owns 285 shares of the company’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. Finally, Quarry LP lifted its holdings in Jacobs Solutions by 108.9% in the 4th quarter. Quarry LP now owns 305 shares of the company’s stock worth $40,000 after purchasing an additional 159 shares during the last quarter. Institutional investors own 85.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. StockNews.com downgraded Jacobs Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. UBS Group raised their target price on shares of Jacobs Solutions from $161.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their target price on shares of Jacobs Solutions from $161.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Truist Financial restated a “hold” rating and set a $158.00 price target (up from $153.00) on shares of Jacobs Solutions in a report on Wednesday, August 7th. Finally, Robert W. Baird cut their price objective on Jacobs Solutions from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Jacobs Solutions has an average rating of “Moderate Buy” and an average target price of $160.40.

Jacobs Solutions Stock Performance

J opened at $144.56 on Tuesday. The stock has a market cap of $18.10 billion, a PE ratio of 27.91, a P/E/G ratio of 1.63 and a beta of 0.72. Jacobs Solutions Inc. has a 1 year low of $120.71 and a 1 year high of $154.50. The stock’s 50 day simple moving average is $145.02 and its 200-day simple moving average is $144.21. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.31.

Jacobs Solutions (NYSE:J) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.96. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.39 billion. Jacobs Solutions had a net margin of 3.72% and a return on equity of 14.76%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. Sell-side analysts forecast that Jacobs Solutions Inc. will post 7.97 EPS for the current year.

Jacobs Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, July 26th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, July 26th. Jacobs Solutions’s payout ratio is 22.39%.

Insider Activity

In other Jacobs Solutions news, insider Steven J. Demetriou sold 7,000 shares of Jacobs Solutions stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the completion of the transaction, the insider now directly owns 527,138 shares of the company’s stock, valued at $77,426,029.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP William B. Allen, Jr. sold 1,451 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.51, for a total transaction of $212,586.01. Following the transaction, the senior vice president now directly owns 26,699 shares in the company, valued at $3,911,670.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven J. Demetriou sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $146.88, for a total transaction of $1,028,160.00. Following the sale, the insider now directly owns 527,138 shares in the company, valued at $77,426,029.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,516 shares of company stock worth $3,132,273. Company insiders own 1.00% 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.